Friday , 23 June 2017
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Stock Exchange

Naira Drops to record low of 345 per dollar

Naira Drops to record low of 345 per dollar

By: Bisi Adekunle The Nigeria currency, Naira has fallen to a record low of 345 against the dollar at the parallel market as at Monday, February 15, 2016  extending its depreciation from nine to 11 per cent in less than two weeks. The naira had hit a lamentable record low of 338 against the greenback on Friday, a day after ... Read More »

CBN Confirms 2,699 Bureau De Change Licences

CBN Confirms 2,699 Bureau De Change Licences

The Central Bank of Nigeria (CBN) has said that 2,699 Bureau De Change (BDCs) operators complied with the new requirements for operations in the country by December 31, 2015. The apex bank at the weekend published on its website a list entitled, “Confirmed BDCs in compliance with the new requirements for the operations of BDCs in Nigeria as at December ... Read More »

FG to privatise BOA, BOI, NCX

FG to privatise BOA, BOI, NCX

The Bureau of Public Enterprises (BPE) has announced its plans to commence the privatisation process of the Bank of Agriculture (BOA), Bank of Industry (BOI) and the Nigeria Commodity Exchange (NCX). Read More »

Lagos Socialite and Businessman Molade Okoya-Thomas Dies at 79

Lagos Socialite and Businessman Molade Okoya-Thomas Dies at 79

Billionaire businessman, the Asoju Oba of Lagos, Babasuwa of Ijebu-Remo, Odofin of Ife, the current Chancellor of Lagos State University and chairman of CFAO Nigeria Limited, Chief Molade Okoya-Thomas has died. He died today February 2nd. He was 79. Details as to what caused his death hasn’t been made public yet. Until his death, he was chairman of many organisations ... Read More »

Tokunbo cars to cost more from 1st of January 2015

Tokunbo cars to cost more from 1st of January 2015

Prices of imported used cars are expected to rise appreciably in the New Year as the Federal Government begins the collection of 70 per cent duty on second-hand vehicles imported into the country from January 1, 2015. This is the second phase of the national automotive policy, which was announced in November 2013. In a move to encourage local assembling ... Read More »

13 Nigerian banks rank among world’s top 1000 world lenders

13 Nigerian banks rank among world’s top 1000 world lenders

Thirteen Nigerian banks have been lifted among the world’s 1,000 lenders. Influential magazine  The Bankers  stated this in its 2014 edition on the review of banks and their performance. According to the report, the banks are in attaining the feat in their second year. The Country Representative of the magazine, Kunle Ogedengbe, listed the 13 banks that made the ranking, ... Read More »

Shake-up in CBN, Emefiele redeploys deputy governors

Shake-up in CBN, Emefiele redeploys deputy governors

The Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, on Wednesday began the reorganisation of the institution with the redeployment of the deputy governors of the bank. The development was confirmed in a statement issued by Mr. Isaac Okoroafor of the Corporate Communications Department of the CBN. The statement stated that with the changes, the Deputy Governor, Corporate ... Read More »

Shocker! CBN makes money from dirty naira notes in circulation

Shocker! CBN makes money from dirty naira notes in circulation

Nigerians may continue to spend dirty and mutilated notes if findings by Saturday Punch are anything to go by. Nigeria’s currency, the Naira, in all its denominations, has been severely mutilated, overused and over-circulated such that it has become an issue of luck to come across a clean note. Read More »

Nigeria’s Aliko Dangote emerges world’s 25th richest

Nigeria’s Aliko Dangote emerges world’s 25th richest

The ranks of the world’s billionaires continue to scale new heights–and stretch to new corners of the world. Forbes global wealth team found 1,645 billionaires with an aggregate net worth of $6.4 trillion, up from $5.4 trillion a year ago. The magazine unearthed a record 268 new ten-figure fortunes, including 42 new women billionaires, another record. In total, there are ... Read More »