Nigeria's interbank lending rate rose to around 20 percent, from 5 percent on Thursday, after the central bank sold treasury bills to mop-up excess liquidity and announced plans to sell dollars to businesses.
Famine To Hit Nigeria In The Next Few Years - Expert Warns
The Director General of International Food Policy Research Institute (IFPRI), Dr. Shenggen Fan has warned the Federal Government to intensify efforts in the area of research-driven agricultural programmes or face serious famine and attendant malnutrition in the coming years.
NSE Market Capitalisation Appreciates By N27bn
Market capitalisation of the Nigerian Stock Exchange (NSE) for the third consecutive day on Wednesday posted further growth increasing by N27 billion.
NDDC Cancels 600 Contracts
The Niger Delta Development Commission (NDDC) says it has revoked more than 600 contracts and projects as part of efforts to restructure the commission.
Kwara State Govt. To Establish Export Processing Zone
Gov. Abdulfatah Ahmed of Kwara on Tuesday said his government would soon establish an export processing zone in the state.
Nigerian Stock Exchange Sustains Growth By 0.54%
Activities on the Nigerian Stock Exchange (NSE) maintained a positive trend for the fourth consecutive trading day in a roll due to second quarter earnings expectations.
Dollar Liquidity: Fidelity Bank Raises International Spend Limit On Naira Cards
Fidelity Bank Plc said it has raised the monthly international spend limit on its Naira cards to $1000. The Bank made the disclosure yesterday in a statement issued by the Chief Executive Officer, Nnamdi Okonkwo. According to him, the move was in response to complaints from customers as well as improved liquidity in foreign exchange occasioned by economic recovery plans engineered by the Central Bank of Nigeria (CBN).
CBN Sold $2.64bn To Authorised Dealers In May
The Central Bank of Nigeria (CBN) said it sold a total of $2.64 billion dollars to authorised dealers in May.
9Mobile Unveils Its Logo, Website, Others
The Emerging Markets Telecommunication Services Ltd. (EMTS), management of 9mobile has unveiled its new logo, website and mobile application, one week after the Chief Executive Officer of Etisalat International, Hatem Dowidar terminated its management agreement with its Nigerian arm and gave the operators 3 weeks to phase out the brand. Following this directive, the EMT changed Etisalat to 9mobile.
Minimum Wage Committee To Begin Sitting
The 29-member committee on a new National Minimum Wage will begin sitting before the end of July, NLC President, Comrade Ayuba Wabba, said on Wednesday.
States Share Another N243bn Paris Club Refunds
The Federal government has released a State by State breakdown of another tranche of Paris Club refund of over-deductions on Paris Club, London Club Loans and Multilateral debts on the accounts of States and Local Governments between 1995 - 2002.