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killing interest rate

JUST IN: CBN Raises Benchmark Interest Rate to 13%

May 24, 2022
By Dipo Olowookere For the first time in two years, the Monetary Policy Rate (MPR) has been raised by the Central Bank of Nigeria (CBN) to 13.0 per cent from 11.5 per cent. Mr Godwin Emefiele, the Governor of the CBN, who announced this development on Tuesday in Abuja, explained that the decision to increase the benchmark interest rate was
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Seplat

We’ll Sustain High Level of Corporate Governance—Seplat

May 24, 2022
By Aduragbemi Omiyale The immediate past chairman of Seplat Energy Plc, Mr Ambrosie Bryant Chukwueloka (ABC) Orjiako, has assured that the company will continue to sustain a high level of corporate governance. Speaking last Thursday at the closing gong ceremony to honour him and introduce his successor, Mr Basil Omiyi, to the market, the energy expert applauded the Nigerian Exchange
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Binance

Binance Gets Digital Asset Service Provider Licence in France

May 24, 2022
By Adedapo Adesanya Binance, the world’s largest crypto and blockchain infrastructure provider, has been granted a Digital Asset Service Provider (DASP) registration to operate in France. The green light was given by Autorité des marchés financiers (AMF), which regulates the French financial markets, with the approval of the Autorité de Contrôle Prudentiel et de Résolution (ACPR), the authority responsible for
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crude oil market

Oil Market Down Amid Supply, Economic Worries

May 25, 2022
By Adedapo Adesanya The oil market was down on Tuesday amid tight supply worries, a possible recession, and China’s COVID-19 curbs, causing the Brent crude to decline by 14 cents or 0.28 per cent to $113.56 per barrel, with the United States West Texas Intermediate (WTI) crude shedding 52 cents or 0.87 per cent to $109.77 per barrel. Yesterday, the
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stock markets investing Invest in Stocks

Stocks Post Highest Daily Loss in 11 Months After CBN’s Rate Hike

May 25, 2022
By Dipo Olowookere The decision of the Central Bank of Nigeria (CBN) to increase the monetary policy rate (MPR) to 13.0 per cent from 11.5 per cent on Tuesday after its third Monetary Policy Committee (MPC) meeting for the year had a spiral effect on local stocks. At the Nigerian Exchange (NGX) Limited yesterday, the action of the central bank
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Politics

Aradel Holdings

Aradel Holdings Lifts NASD OTC Bourse by 2.64%

April 19, 2024
By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange rebounded by 2.64 per cent on Thursday following the price appreciation reported by Aradel Holdings Plc. The energy firm chalked up N170 during the trading session to settle at N1,870.00 per share, in contrast to the N1,700.00 per share it traded a day earlier. The improvement in the share price of
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Inflation Rate

Nigeria: Inflation Falls by 0.53% to 15.37% in December 2017

By Modupe Gbadeyanka Data released on Tuesday by the National Bureau of Statistics (NBS) has revealed that inflation in Nigeria moderated further in December 2017 by 0.53 percent. According to the stats office, the rate declined to 15.37 percent in December 2017
January 16, 2018

NSE Stops Trading of 7up Shares by Investors

By Modupe Gbadeyanka Trading of shares of Seven Up Bottling Company Plc by investors on the floor of the Nigerian Stock Exchange (NSE) has been stopped. This followed the full suspension placed on the shares of the firm as a result of
January 16, 2018

DG Budget Office Ben Akabueze Lists Seven Aspects of Budget

By Modupe Gbadeyanka Director General of Nigeria’s Budget Office, Mr Ben Akabueze, has highlighted the processes involved implementing a budget. Mr Akabueze, speaking on Tuesday in Abuja at a programme organised by the National Institute for Legislative Studies (NILS), disclosed that the
January 16, 2018
naira depreciate

Naira Suffers Crash Against Dollar Despite Forex Supply

By Modupe Gbadeyanka It was very bad day for the Naira yesterday at the parallel market segment of the foreign exchange (forex) market. This was despite the $210 million injected into the interbank forex market on Monday by the Central Bank of
January 16, 2018

7000 Oyo Traders, Artisans Get Biometric ID Cards

By Modupe Gbadeyanka About 7,000 tradesmen and artisans captured in Ona Ara local government area of Oyo State have given biometric identity cards. The biometric data capturing of informal sector operatives was initiated by the administration of Mr Abiola Ajimobi to enable
January 16, 2018
t-bills market

T-Bills Market Bearish as Yields, Overnight Rate Rise

By Dipo Olowookere As investors patiently await the sale of treasury bills at the primary market on Wednesday, the T-bills market opened for the week yesterday bearish. However, the average yields recorded a marginal growth on Monday, increasing by 3 basis points
January 16, 2018
forex Black Market

Forex Market Gets Fresh $210m Intervention from CBN

By Dipo Olowookere The currency market received a boost on Monday when the Central Bank of Nigeria (CBN) released another $210 million into the interbank segment of the market. A statement issued by spokesman of the apex bank, Mr Isaac Okorafor, explained
January 16, 2018

Ajanaku Appointed as Ambode’s Strategist

By Dipo Olowookere Governor Akinwumi Ambode of Lagos State has approved the appointment of Mr Idowu Ajanaku as his Special Adviser on Information and Strategy. A letter signed by the Head of Service, Mrs Folasade Sidikatu Adesoye, disclosed that the appointment of
January 15, 2018
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