The Central Bank of Nigeria on Friday sustained its intervention in the foreign exchange market by injecting the sum of $339.89m into the Retail Secondary Market Intervention Sales. The Acting Director, Corporate Communications, CBN, Mr. Isaac Okorafor, noted that the continued intervention was in line with the pledge made by the Governor, Godwin Emefiele, to sustain market liquidity in order to boost production and trade.
Osinbajo Set To Launch Economic Diplomacy Initiative Next Month
The Federal Government is to launch the Nigerian Economic Diplomacy Initiative April 5, 2018 to facilitate global market access for Nigerian products. Spokesperson Federal Ministry of Foreign Affairs, Dr. Tiwatope Elias-Fatile, stated this in Abuja at a bi-weekly briefing on the activities of the Ministry.
Aisha Buhari Commissions Hospital That Saved Son's Life After Power Bike Crash
Aisha Buhari, wife of the President on Thursday officially commissioned Cedar Crest Hospital, the health facility that saved her son's life after a power bike crash around Gwarimpa, Abuja. Speaking at the event, Aisha Buhari commended the 90-bed hospital sited in Abuja’s Apo District and health practitioners working in the facility for saving her son’s life after the crash.
FG Appoints Joseph Nnanna, Chairman NEXIM Bank Board
Dr Joseph Nnanna, a former Deputy Governor (Economic Policies) at Central Bank of Nigeria (CBN) has been named as the Chairman of Board of Nigeria Export Import Bank (NEXIM) by the Federal Government.
This is contained in a statement signed by Tayo Omidiji, NEXIM Bank Head of Strategy and Communications on Friday in Abuja.
Other Board members include Dr Mudashiru Olaitan, Mrs Olubunmi Siyanbola, Mr Ochapa Ogenyi, Hon Adesina Adegbenro and Hajiya Ramatu Ahmed.
Nigerian Navy Deploys 4 Ships, 2 Helicopters To Check Sea Robbery In Gulf Of Guinea
The Nigerian Navy on Thursday said it has deployed four warships and two helicopters to patrol the entire Gulf of Guinea in an exercise codenamed "Obangame". The NN Chief of Transformation, Rear Admiral Begroy Ibe- Enwo who made this known in an interview with newsmen said the deployment was aside numerous gunboats that were earlier deployed for the exercise which has 26 countries, including America, Britain, France and Portugal participating.
Market Price Rebounds As Indices Appreciate By N196b
After six consecutive days of decline, transactions on the trading floor of the Nigerian Stock Exchange (NSE) was on the upbeat yesterday, following price gains recorded by most blue-chip stocks, as market capitalisation increased by N196 billion.
Yesterday, price gainers outweighed losses for the first time this week, as 29 stocks appreciated in price while 28 constituted the losers’ chart.
Specifically, Mobil topped the gainers’ chart with N7.70 kobo t close at N184.00 per share while GlaxoSmithKline followed with N2.25 kobo to close at N24.30 per share.
Expanded National Economic Council Meeting: Bill Gates, Dangote In Attendance
Founder of Microsoft, Bill Gates, and Nigerian Industrialist, Aliko Dangote, will attend a special session of the National Economic Council, NEC, chaired by Vice President Yemi Osinbajo on Thursday at the Banquet Hall of the Presidential Villa, Abuja. A press release by the Senior Special Assistant on Media and Publicity, Office of the Vice President, Laolu Akande, said the special session is line with the Buhari administration’s Economic Recovery and Growth Plan (ERGP) for inclusive growth and human development.
Federal Government Gets N64.06bn From Bonds In March 2018
The Federal Government allotted N64.06 billion bonds in its March auction, as against the N70 billion earlier planned, the Debt Management Office (DMO) said. The result of the auction obtained from the DMO website on Thursday in Abuja, showed that the debt office sold N10.05 billion in five-year bonds at 13.40 per cent, and N45.10 billion in 10-year bonds at 13.60 per cent.
At Last, Reps Pass PIB
The House of Representatives, on Wednesday, finally passed the bill for an Act to Provide for the Governance and Institutional Framework for the Petroleum Industry and for other related matters, through third reading.
The bill, which seeks to unbundle the Nigerian National Petroleum Corporation (NNPC), provides for the establishment of Federal Ministry of Petroleum Incorporated; Nigerian Petroleum Regulatory Commission; Nigerian Petroleum Assets Management Company, and National
Petroleum Company and Petroleum Equalisation Fund.
Nigeria Stock Exchange: Indices Rally Records 0.33% Growth
Trading on the Nigerian Stock Exchange (NSE) on Thursday closed on a positive note after dropping for six consecutive days, with the All-Share improving by 0.33 per cent. The index rose by 138.36 points or 0.33 per cent to close at 41,633.79, against 41,495.43 achieved on Wednesday.
9Mobile New Owner Pays $50m Non-Refundable Deposit
Teleology Holdings wednesday beat the deadline stipulated under the bid process for the acquisition of 9mobile by paying a $50 million non-refundable deposit for Nigeria's fourth largest network operator.
Teleology, which emerged the preferred bidder for the 9mobile transaction on February 21, was given till today to pay the non-refundable deposit, failing which Barclays Africa, the transaction adviser, would have invited the reserve bidder, Smile Telecoms Holdings, to takeover 9mobile.