PM News Nigeria

FG investigates revenues earned in foreign currency remitted in naira

Vice President, Prof. Yemi Osinbajo, head of the National Economic Council

The National Economic Council (NEC), on Thursday mandated the Central Bank of Nigeria (CBN), and Ministry of Finance to investigate revenues earned in foreign currencies but remitted in naira by some ministries/agencies/departments. This is the high point of decisions reached at the end of the NEC meeting presided over by Vice President Yemi Osinbajo at […]

Delta Govt plans committee to monitor use of bailout fund

Governor Ifeanyi Okowa of Delta State

Delta Government is to set up a committee to ensure effective use of bailout funds for the payment of salary arrears to workers by local government councils. Gov. Ifeanyi Okowa announced this when he received Chairmen and members of organised labour in Asaba on Thursday. Okowa said the bailout funds for local government would be […]

Naira slides further at parallel market


The Naira on Monday further slided at the parallel market as it exchanged for N227 to the dollar, as against the N226.5 it traded previously. The News Agency of Nigeria (NAN) reports that the official interbank rate, however, remained at N197. Traders at the market attributed the slide in the price of the naira to […]

Kenya yields dip, Nigeria’s to rise as offshore investors sell

President Muhammadu Buhari of Nigeria

Yields on Kenyan Treasury bills are likely to dip again next week, while rates on Nigerians paper were expected to rise as offshore investors sell. KENYA Yields on Kenyan T-bills are likely to slip next week, with extra shilling liquidity chasing the instruments and the central bank sending what traders saw as a signal that […]

Naira appreciates at parallel market

naira note

The naira on Wednesday firmed against the dollar at the parallel market. The naira gained N1 on Wednesday afternoon as it traded for N225 against the dollar. It had previously traded for N226 against the dollar. In the same vein the naira also appreciated in value at the official interbank rate as it gained N0.02 […]

POS daily transaction hits N1.5bn

pos 3

The Central Bank of Nigeria (CBN) has said that Nigeria averages about N1.5 billion worth of transactions on the Point Of Sales (POS) terminal daily. Mr Dipo Fatokun, the Director, Banking and Payment System Department (BPSD), CBN, said this in Abuja on Wednesday at the apex bank’s e-Payment Incentive Scheme (EPIS) cash reward presentation. The […]

Blue chips drop price on NSE

Dealers at the Nigeria Stock Exchange

Some blue chips on the Nigerian Stock Exchange (NSE) recorded further price depreciation on Wednesday as a result of profit taking by investors. The News Agency of Nigeria (NAN) reports that Forte Oil topped the price losers’ chart, dropping N9.35 to close at N253.65 per share. UACN trailed with a loss of N1.52 to close […]

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