Finance articles

FEC approves N2.65bn for FCT road, sewage projects

The Federal Executive Council (FEC) on Wednesday approved N2.659 billion for road and sewage projects in the Federal Capital Territory (FCT. The Minister of FCT, Mohammed Bello, disclosed this to State House correspondents at the end of the FEC meeting chaired by Acting President Yemi Osinbajo at the Presidential Villa, Abuja. The approval, he said,

CBN injects $142.5m into Forex market

The Central Bank of Nigeria on Monday injected a total of $142.5 million into the inter-bank foreign exchange, days after intervening in the retail segment of the market with the sum of $254.3 million. A breakdown of the Monday’s intervention indicated that the Bank offered the sum of $100 million to dealers in the wholesale

Bankers, MTN staff, others in N150m fraud

Detectives attached to the Police Special Fraud Unit (SFU), Milverton, Ikoyi, Lagos State, have arrested 11 suspected fraudsters, among them three bankers and MTN workers, for allegedly infiltrating customers’ accounts and withdrawing over N150 million. The bankers are Oyelade Shola-Isaac (32), Osuolale Hammid (40) and Akeem Adesina (33). The MTN workers are Okpetu John (29),

Naira suffers loss against dollar despite CBN’s intervention

The Naira on Friday suffered marginal loss against the dollar at the parallel market in spite of CBN’s intervention at the foreign exchange market. The News Agency of Nigeria (NAN) reports that the Naira lost one point to exchange at N366, weaker than N365 traded on Thursday, while the pound sterling and the Euro closed

Naira rises to N359/$ in Investors/Exporters window

The naira yesterday recorded its biggest daily appreciation of N6 against the dollar in the Investors & Exporters (I&E) window, with the exchange rate falling to N359 per dollar. The naira also appreciated by N1 in the parallel due to weak demand for dollars.  Vanguard survey revealed that the parallel market exchange rate dropped from