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Business

Domiciliary Accounts to Naira

Again, CBN Denies Planning to Convert FX in Domiciliary Accounts to Naira

September 11, 2021
By Aduragbemi Omiyale The Central Bank of Nigeria (CBN) has again denied rumours making the rounds that it plans to convert foreign exchange (FX) in domiciliary accounts of customers to Naira. A statement issued on Saturday by the Director of Corporate Communications, Mr Osita Nwanisobi, described the social media rumours as false and aimed at “impugning the integrity of the
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1.4 billion shares

Investors Trade 1.4 billion Shares Worth N13.1bn in One Week

September 13, 2021
By Dipo Olowookere A total of 1.4 billion shares worth N13.1 billion were traded last week by investors in 19,315 deals on the floor of the Nigerian Exchange (NGX) Limited, data obtained by Business Post showed. The turnover recorded at the exchange last week was more than the 1.3 billion stocks worth N8.7 billion transacted at the preceding week in
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NASD Unlisted Securities Index

Weekly Trading Value on NASD Surges by 1,061.6%

September 13, 2021
By Adedapo Adesanya Renewed interest in stocks on the NASD Over-the-Counter (OTC) Securities Exchange triggered a 0.4 per cent weekly growth on the exchange. Business Post reports that the weekly trading value surged by 1,061.6 per cent as investors traded shares worth N1.1 billion compared to the N95.4 million transacted in the previous week. This increase was because of the
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foreign reserves

Nigeria’s External Buffers Maintain Upward Trajectory

September 13, 2021
By Ashemiriogwa Emmanuel The total amount in the external buffers of Nigeria maintained an upward trajectory last week with an increase of 1.8 per cent or $599 million. Data analysed by Business Post from the Central Bank of Nigeria (CBN) indicated that the amount left in the reserves of the country stood at $34.8 billion as of Thursday, September 9, 2021,
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Forex Turnover

Forex Turnover at I&E Window Falls to $724.1m

September 13, 2021
By Sodeinde Temidayo David The turnover of the value of foreign exchange (FX) transactions at the Investors and Exporters (I&E) segment of the forex market in Nigeria last week stood at $724.1 million. Business Post gathered that the weekly forex turnover at the market segment was 31.0 per cent or $261.5 million lower than the $1.1 billion achieved at the
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Politics

Nigeria OPEC

OPEC Woos Namibia After Angola’s Exit

April 18, 2024
By Adedapo Adesanya Africa may yet get another producer in the wider Organisation of the Petroleum Exporting Countries and its allies (OPEC+) after the exit of Angola and other players in recent years, as the group is considering Namibia for membership. According to a top African industry official quoted by Reuters, OPEC+ will have to ensure Namibia joins its Charter
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Travel

Latest

Ikeja Electric Donates Items to Lagos Rehab Centre

By Dipo Olowookere As part of the activities to commemorate this year’s International Day of Charity, leading electricity distribution company in the country, Ikeja Electric Plc (IE), recently donated essential items, including clothes and food, to the Lagos State Rehabilitation and Training
September 9, 2018
buhari thinking deep

Criticism: FG Plotting to Arrest Some Elder Statesmen—Group

By Dipo Olowookere A pan Yoruba youth organizations, Igbimo Odo Yoruba, has raised an alarm about a plot by the federal government to clampdown on some leaders of the Nigerian leaders and elders forum comprising Afenifere, Northern Elders Forum, Ohanaeze  Ndigbo, Pan-Niger
September 9, 2018
fuel scarcity history nigeria

Fuel Scarcity: No Need to Panic—NNPC Assures Nigerians

By Dipo Olowookere Nigerians have been urged not to engage themselves in the panic buying of petroleum products as a result of the reported proposed scarcity of the commodity. This warning was given by the management of the Nigerian National Petroleum Corporation
September 9, 2018

Lagos East Leaders Back Senator Ashafa for Re-election

By Ebireri Henry Ovie The prospect of re-electing the member representing Lagos East Senatorial District, Mr Gbenga Ashafa, in 2019 is seen as having more resonance. Lagos East leaders Saturday threw their weight behind the senator for developing the senatorial district, advancing
September 9, 2018

MTN: Diamond Bank Confirms Payment of N250m Fine to CBN

By Dipo Olowookere The Central Bank of Nigeria (CBN) has debited the sum of N250 million from the account of Diamond Bank Plc. This amount was for the fine the apex regulatory agency in the banking sector slammed on the financial institution.
September 8, 2018

2019 Imo Guber: Okorie Picks YPP Nomination Form

By Destiny Ugorji Frontline governorship aspirant of the Young Progressive Party (YPP) in Imo state, Dr Linus Okorie, has reportedly picked the party’s nomination form. In a statement signed by the acting Communication Coordinator of the Imo Nke Anyi Movement, a political
September 8, 2018
sugar

Sugar Tariffs Will Curtail Surge of Imports—S/Africa

By Dipo Olowookere The Chief Director for agro-processing at the Department of Trade and Industry (the dti), Ms Ncumisa Mcata-Mhlauli, has disclosed that the recently endorsed International Trade and Administration Commission (ITAC) recommendation by Minister Rob Davies to adjust the sugar and
September 8, 2018

Lifebuoy Unveils Omawumi as Brand Ambassador

By Dipo Olowookere Sensational Afro-pop artiste, Omawumi Megbele, has been unveiled as the brand ambassador for Lifebuoy Nigeria. This was done at the official re-launch of the health care soap held on Thursday, September 6, 2018 at the Raddison Blu Hotel, Ikeja.
September 8, 2018

I Won’t Govern Rivers Like Wike—West Assures Electorates

By Dipo Olowookere Governorship aspirant under the aegis of the Peoples’ Democratic Party (PDP), Mr Soalabo West, has assured the people of Rivers State that his approach to governance will be totally different from the style of the incumbent Governor, Mr Nyesom
September 8, 2018
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