FOREX: CBN explains 210 million dollars boost

The Central Bank of Nigeria (CBN) has injected 210 million dollars to boost the inter-bank foreign exchange market and to meet customers’ requests in various segments of the market. The Bank’s acting Director, Corporate Communications, Mr Isaac Okorafor, in a statement on Monday in Abuja said the fund would ensure that legitimate demands for foreign More...

by Uchenna Ajah | Published 14 mins ago
By Uchenna Ajah On Monday, January 22nd, 2018

Bongo: No cause for alarm over failed MPC meeting

Dr Adi Bongo, economist and faculty member, Lagos Business School, insists there is no cause for alarm following the inability of the Central Bank of Nigeria (CBN to hold the Monetary Policy Committee (MPC) meeting More...

By Uchenna Ajah On Thursday, January 18th, 2018

Bitcoin slides to below $10,000

Bitcoin, the dominant digital currency, extended a slump on Wednesday, following a recent surge to trade below $10,000 for the first time since the start of December. Around 1410 GMT, bitcoin stood at $9,807.56 More...

By Felix OLOYEDE On Tuesday, January 16th, 2018

Why CBN won’t cut interest rate despite inflation slowing down to 20 month low

…Nigerian inflation rate slows to 15.37%, lowest since April 2016 FELIX OLOYEDE Prof. Yemi Kale, DG, National Bureau of Statistics Those agitating for interest rate cut in first quarter may have to wait longer More...

By Felix OLOYEDE On Tuesday, December 26th, 2017

Anxiety mounts over depleted MPC membership

May not form quorum in January MPC meeting This would hamper investors’ confidence- analysts  FELIX OLOYEDE CBN Governor Godwin Emefiele A fog of uncertainty has beclouded the ability of the Monetary Policy More...

By Felix OLOYEDE On Tuesday, December 5th, 2017

Banks’ NPLs reach 10-month high in Q3

FELIX OLOYEDE Godwin Emefiele, CBN Governor Non-Performing Loans (NPLs) in the Nigerian banking industry hit 10-month in September, latest data from the the Nigeria Deposit Insurance Corporation (NDIC) has shown. The More...

By Felix OLOYEDE On Wednesday, November 15th, 2017

Time is ripe for rates cut, says Rewane as inflation slows further in Oct.

FELIX OLOYEDE Prof. Yemi Kale, DG, National Bureau of Statistics This is the appropriate time for the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) to cut benchmark monetary rates after inflation More...

By Felix OLOYEDE On Monday, October 23rd, 2017

How UBA Defied gloom: Grows profits and stock value

By OKEY ONYENWEAKU Kennedy Uzoka, GMD UBA Sweeping past recession troubles, United Bank for Africa (UBA) has grown its third quarter (Q3) 2017 profit by 33.2 per cent, one of the strongest year-on-year earnings More...

By Felix OLOYEDE On Thursday, October 19th, 2017

Growth in interest income, FX push GTBank PAT Up 7.26% in Q3

GTBank MD, Segun Agbaje, Nigeria’s most capitalized commercial lender, Guarantee Trust Bank (GTBank) Plc reported a single digit upswing in its profit-after-tax in the third quarter 2017 financial result, buoyed More...