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Nigeria News -Business News updates and Summaries in Nigeria today
  1. RemmyAlex

    Business Naira Recorded Massive 15% Gain Against Dollar This Week

    Nigerian naira gained a massive 15 per cent at the street market this week as the Central bank of Nigeria intervened at the foreign exchange market to close the widen margin of currency rates in the country, Nigerian Bulletin can report. The currenc...
  2. RemmyAlex

    Business Nigeria: Bureau De Change Operators Lose N130m As Naira Gains

    Alhaji Aminu Gwadabe, the President, Association of Bureau De Change Operators of Nigeria (ABCON), has said that CBN-licensed BDCs incurred regulatory losses of 130 million naira this week. Gwadabe disclosed on Friday in Lagos that the losses were c...
  3. RemmyAlex

    Business Naira Appreciates Further, Now At 390 Per Dollar

    Nigerian naira on Friday ended the week trading bullish as the currency trades 390 per US dollar at the parallel market. The currency also appreciated further against the Pound sterling and Euro at the parallel market to close at 490, 430 respective...
  4. Lequte

    Business Biogran Takes Over Nigerian Pharmaceutical Firm, Swipha

    French pharmaceutical firm, Biogaran, has announced the takeover of Swipha, manufacturers and distributors of pharmaceutical products all around the country. Biogran specialises in generic and biosimilar medicines. It will be taking over all activi...
  5. Samguine

    Business Nigeria - 24/03/2016: Today's Naira Rate Against The Dollar, Pounds And Euro

    Today's (24/03/2017) exchange rate of the Nigerian Naira against the Dollar, Pound and Euro ...
  6. Lequte

    Business Naira Appreciates to N385/$ at Abuja Black Market, BDC Operators in Panic Mode

    The Nigerian Naira according to the Vanguard, appreciated on Thursday to N385 per dollar at the parallel market in Abuja, sending bureaux de change operators into panic mode. Although the currency exchanged in a 400-405 at parallel markets in other...
  7. RemmyAlex

    Business CBN Makes Fresh Intervention, Pumps $100m Into Forex Market

    The Central Bank of Nigeria (CBN) on Thursday offered the sum of 0 million to meet the requests of wholesale customers. The sale will be settled today. Acting Director of Corporate Communications at the CBN, Isaac Okorafor, disclosed that mi...
  8. Lequte

    Business Naira Appreciation: What CBN Should do Next - BDC President

    President of the Association of Bureau De Change Operators of Nigeria (ABCON) Aminu Gwadabe has called on the Central Bank of Nigeria (CBN) to loosen its policies on foreign direct inflow and diaspora remittances. According to him, this will help r...
  9. RemmyAlex

    Business Sarah Alade: CBN Deputy Governor Retires After 23 Years Of Service

    The Central Bank of Nigeria (CBN) Deputy Governor, Economic Policy, Dr. Sarah Alade, has retired after 23 years of services. Dr. Alade is retiring after spending two terms as the deputy governor as required by law. At a dinner in her honour by the ...
  10. RemmyAlex

    Business Naira Edges Towards 300/US$1 As CBN Moves To Close FX Gap

    Nigerian naira on Thursday edged towards 300 per dollar at the black market as Central Bank of Nigeria, CBN, keeps pumping forex into official market to narrow the currency’s spread at the black market. The currency trades at 380 to 400 against the ...
  11. Oluogunjobi

    Business Arik Air Workers Shut Down Operations

    Arik Air has on Thursday been shut down by Aviation unions, Premium Times report says. The unions, which include the National Union of Air Transport Employees, Air Transport Services Senior Staff Association of Nigeria and the National Association o...
  12. RemmyAlex

    Business How CBN Weakens Dollar, Pushes Naira To 7-Month High At 410/US$1

    The Central Bank of Nigeria On Wednesday sold the dollar at a weaker rate, traders say, in an effort to boost liquidity on the official market and narrow the naira’s spread at the black market. The Central Bank has been intervening on the official m...
  13. Samguine

    Business Nigeria - 23/03/2016: Today's Naira Rate Against The Dollar, Pounds And Euro

    Nigerian naira edges towards N400 at the parallel market as the Central Bank of Nigeria moves to close the widen gap between the various FX market. Table below shows today's (23/03/2017) exchange rate of the Nigerian Naira against the Dollar, Pound ...
  14. Lequte

    Business Fashola Unveils New Plan to Boost Power Supply in Nigeria

    The federal government of Nigeria has unveiled a power sector recovery program to boost electricity supply in the country. Speaking after the Federal Executive Council meeting yesterday, Power Minister, Babatunde Fashola explained that the plan con...
  15. RemmyAlex

    Business Naira Recovers, Gains 4.9% To 410/US$1 At Black Market

    The Nigerian naira extended recovery at the parallel market by gaining 4.87 per cent to 411 against the United States dollar as Central Bank of Nigeria moves to close the gap between the various forex rates in the country. The currency also apprecia...
  16. RemmyAlex

    Business Adepeju Adebajo Resigns As ED Of Lafarge Africa Plc

    The board of Directors of Lafarge Africa Plc has announced the resignation of Mrs. Adepeju Adebajo as an Executive Director. The company in a statement signed by its secretary, Uzoma Uja said Mrs. Adebajo's resignation is in compliance with the list...
  17. RemmyAlex

    Business Why Nigerian Bonds Are So Popular Now

    Nigerian bonds are proving hugely popular among investors despite the country's economy shrinking by 1.5% in 2016, its first annual contraction in 25 years. Despite Boko Haram jihadists in the north-east and by unrelated militants’ attacks on oil fa...
  18. RemmyAlex

    Business FAAC: How FG, States, LGs Shared N429Bn Allocation For February

    Federal government, state governments and local government councils shared a total of N429.127 billion as federal allocation for the month of February 2017. The communiqué issued by the Technical sub-Committee of Federation Accounts Allocation Commi...
  19. RemmyAlex

    Business How Buhari's Ministers Colluded With IMF To Ruin The Naira – Falana

    Femi Falana, human rights lawyer and senior advocate of Nigeria (SAN), has alleged that President Muhammadu Buhari’s ministers colluded with the Intermational Monetary Fund, IMF to ruined the naira. In this interview with THISDAY Newspaper, Falana s...
  20. RemmyAlex

    Business GSK Appoints Bhushan Akshikar As MD

    GlaxoSmithKline, a science-led global healthcare company, has announced the appointment of Bhushan Akshikar as its Managing Director. Bhushan joined the Nigeria business in January 2017 from Mumbai, India, where he held the position of Executive Vic...

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