After weeks of mounting tension in the public following the Central Bank of Nigeria’s (CBN’s) insistence that its January 31 deadline set for the full withdrawal of old N200, N500 and N1,000 from circulation remains sacrosanct, the apex bank on Sunday disclosed that President Muhammadu Buhari had approved the extension of the deadline to 10 […]
The United States Consul-General in Nigeria, Mr. Will Stevens, on Thursday restated the commitment of the U.S. government to supporting programmes that will drive Nigeria’s digital transformation. Stevens, who made this remark in his keynote remarks at the official opening of Digital Expert Academy on the theme ‘Technology as an Enabler and Tool for Empowerment’ […]
…As Buhari canvasses more support for farmers The African Development Bank Group (AfDB), on Wednesday hinted of its plans to commit $10 billion over the next five years to boost Africa’s efforts to end hunger in the continent and transform it into a primary food provider for itself and the global community. The […]
The Central Bank of Nigeria (CBN) and the Nigeria Inter-Bank Settlement Systems (NIBSS) on Thursday unveiled Nigeria’s maiden national payment card, AfriGo, in furtherance of their collective drive towards fully digitalizing the nation’s financial system. The AfriGo card, which will function like other international payment cards, according to the partners, is designed to deepen the apex […]
The Nigerian Exchange (NGX) closed negative on Wednesday as bears dominated the trading session, thus marginally driving down the broad market’s performance. At the end of the stock buying and selling session, the All-share Index (ASI) depreciated by 0.02% to close at 52,599.65 points while the market capitalization declined by N32 billion to close at […]
The Naira recovered from the Tuesday’s exchange rate value loss for the US dollar at the black market, trading in the early hours of Wednesday at an average of N750/$1, representing a 0.40% appreciation from the N753/$1 it exchanged at during the previous day’s trading session. Some black market traders attributed the gain by the […]
Nigeria and other countries in the Lake Chad region, namely Niger, Cameroon, and Chad are to benefit from the European Union’s (EU’s) €102.5 million humanitarian aid. The EU made the promise to provide the humanitarian aid during the 3rd High-Level Conference on the Lake Chad Region held on Monday and Tuesday in Niamey, Niger Republic […]
The Monetary Policy Committee of the Central Bank of Nigeria (CBN) ended its first meeting this year on Tuesday by raising the Monetary Policy Rate (MPR), also known asthe benchmark interest rate, to 17.5% from 16.5%. The CBN governor, Mr. Godwin Emefiele, gave this hint while briefing the media on the key decisions taken at […]
The Naira depreciated in exchange for the US dollar at the black market on Tuesday, trading at an average of N753/$1 in the early hours trading session compared to N746/$1 it exchanged on Monday, representing a 1.07% depreciation by the local currency. Information provided by some black market traders indicated that the sharp slide in […]
Nigeria’s equities market closed negative on Tuesday, as bears took over the trading session from the bulls, thereby causing slide in the broad market’s performance. At the close of the trading session, the All-share Index (ASI) depreciated by 0.08% to close at 52,612.55 points while the market capitalization declined by N25 billion to close at […]