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By Babajide Komolafe In spite of the scarcity and restrictions in the nation’s foreign exchange market, seven banks made N78 billion trading in foreign exchange in 2015. Financial Vanguard investigations revealed that the income was 8.3 per cent lower than the N85.5 billion recorded in 2014. The banks are Access, UBA, FBN Holdings, Union Bank, […]

By Sunday Michael Ogwu, Lagos & Francis Arinze Iloani Financial experts have expressed concerns that the Central Bank of Nigeria (CBN) may reverse its decision on THE proposed flexible exchange rate regime.Damina Advisors,  a preeminent Africa-focused independent frontier markets risk research, due diligence and Africa M&A transactions consulting and strategic advisory firm, believed that the […]

Market operators have warned that unless scarcity and price volatility is addressed, Nigeria’s 300,000 metric tons domestic LPG market may be in jeopardy, and efforts at deepening LPG penetration could be scuttled. Already, intense scarcity of LPG has set in, as private dealers have no product and those who have are charging a 100 percent […]

Vice President Yemi Osinbajo has said that Nigeria would continue consultations within the country regarding its stance on the Economic Partnership Agreement (EPA) between ECOWAS and the European Union. Osinbajo said this at the 49th Ordinary Session of the Economic Community of West African States (ECOWAS) in Dakar, Senegal, a statement issued by the Vice […]

Central Bank of Nigeria (CBN)’s foreign exchange policies and ability to defend the naira face further squeeze as dollar reserves falls to about 4.4 months of import cover, below the international Monetary Fund (IMF) recommended six months, BusinessDay findings reveal. Data from the CBN show that gross official reserves declined by $700m in May on […]

By Nume Ekeghe In continuation of its consultation with major stakeholders in the economy, the Central Bank of Nigeria (CBN) at the weekend met with members of the Nigeria Labour Congress (NLC).At the meeting, the Consumer Protection Department of the CBN disclosed that it had resolved over 6,000 complaints by bank customers, just as it […]

JUNE UPDATE – 2016 ………………………………………………..06/06/16TARGET PRICE RANGE: N360 : $1 AND N520 : £1 AND N400 : €1 ……………….. June forecast out shortly.

Governor, Nyesom Ezenwo Wike of Rivers State has disclosed that the state  government  will provide  the  required platform  for the successful  clean-up of Ogoni land and the implementation of the UNEP Report.During  the  launch of the clean-up of Ogoni land and other impacted communities  in the Niger Delta on Thursday in Bodo, Governor Wike said […]Read More

As the controversy traying diversion of Ten trucks of rice meant for the Internally Displaced Persons living in camps in Borno State, more facts are beginning to emerge as DRUMBEAT NEWS reliably gathered that governor Kashim Shettima directed his Deputy to sell off the rice to buy condiments and diesel for camps. It would be […]

Troops Kill Boko Haram fighters In Borno State Nigerian troops deployed in Borno State killed some Boko Haram fighters during an encounter with the terrorists in a rural area yesterday. The troops also captured one terrorist alive, confiscated their weapons and equipments

Nigerian Footballer Lucky Omeruo Set To Wed In Netherlands 20-year-old Nigerian professional footballer, Lucky Omeruo will be getting married to his partner on June 11, 2016 at party centrum Zichtenburg den Haag, Netherlands. The footballer who currently plays for Pembroke Athleta F.C. as a striker is the younger brother of Chelsea FC center back, Kenneth […]

Share on Facebook Tweet on Twitter Stock Market Report For June 3, 2016 Equity transaction on the floor of the Nigerian Stock Exchange for today ended with the All Share Index at 27, 634.42.1.66% and the Market Capitalization at 9, 491, 025, 487, 396.10 with the volume gaining 243, 801, 730.00 and  deals at 5, […]Read More