Finance articles

Dollar Glut Hits Forex Market as Naira Strengthens to N363 Per Dollar

Dollar Glut Hits Forex Market as Naira Strengthens to N363 Per Dollar

The impact of the sustained dollar supply by the Central Bank of Nigeria (CBN) has continued to have positive effect on the foreign exchange (forex) market as the sell side of the Naira exchange rate against the Dollar appreciated significantly by N12, to close at N363/$ on the parallel market yesterday, as against  the N375/$

Acting President- Osinbajo to sign 2017 Budget Thursday

Acting President Prof. Yemi Osinbajo will sign the 2017 Budget into law on Thursday by  by 9:00 A.M at the Presidential Villa. A source told our correspondent in Abuja that the representatives of the President had just concluded a meeting with the leadership of the National Assembly where the date and time of the budget

Democracy Day: MMM-Nigeria organises ‘Green Party’

MMM-Nigeria, a group for mutual financial aid and donations on Monday organised a green party show in the Federal Capital Territory to celebrate Nigeria’s Democracy Day. The party, which held at the Millennium Park, was opened to members of the group and non-members alike. Mr Seyi Bello, the President of Abuja Guiders Forum of the

CBN retains 14% interest rate

The Central Bank of Nigeria (CBN) on Tuesday retained the Monetary Policy Rate (MPR) otherwise known as interest rate at 14 per cent. The apex bank disclosed this at the end of its Monetary Policy Committee (MPC) meeting in Abuja. Addressing journalists on the outcome of the meeting, the CBN Governor, Godwin Emiefele, said following

Dollar crashes to N380/$1 as MPC meets

The dollar yesterday recorded its worst outing in more than three months against the naira, exchanging at N380/$1 in the parallel market. The rate comes ahead of tomorrow’s Central Bank of Nigeria (CBN) led Monetary Policy Committee (MPC) meeting in Abuja. The local currency was exchanging at N385/$1 on Friday and has maintained steady decline

Osinbajo can assent to 2017 budget, Enang makes u-turn

The Senior Special Assistant to the President on National Assembly Matters (Senate), Ita Enang, has said the Acting President has the powers to assent to the 2017 budget. Enang told State House correspondents that the Acting President has the constitutional power to assent to the bill once he is satisfied with the content, shortly after