ASSETS & FINANCIALS

 The overnight lending rate rose sharply to around 50 per cent on Friday, from an average of 4.5 per cent on Thursday, after the Central Bank of Nigeria debited commercial banks’ accounts for special foreign exchange sales. The CBN had …

 The naira is seen depreciating further and may hit the 500 mark to the United States dollar at the parallel market next week as the greenback scarcity persists and the Central Bank of Nigeria cuts supply to foreign exchange operators. …

 The registration of the Sterling Bank Plc’s N100bn commercial paper programme will boost confidence in the Nigerian financial market, according to FMDQ OTC Securities Exchange. The CP, which was signed on the FMDQ platform, came barely after the listing of …

 The Federal Executive Council on Wednesday approved the Ministry of Finance Whistleblowing Programme that may see individuals, who voluntarily volunteers credible information on stolen or concealed funds, smiling home with between 2.5 per cent and five per cent of the …

 The Lagos State Governor,  Akinwunmi Ambode, on Wednesday inaugurated the much anticipated Lagos-Kebbi Rice (LAKE Rice), saying an individual would only be allowed to purchase a bag so it could go round. The governor, who inaugurated the rice along with …

 The level of investment inflow into the country recorded a huge decline of $4.51bn from the $8.08bn in the first nine months of 2015 to $3.57bn in the same period of 2016, an analysis of the capital importation report obtained …

 The Speaker of the House of Representatives, Mr. Yakubu Dogara, said on Tuesday that Nigerians were not feeling the impact of Development Finance Institutions established by the Federal Government to serve as a catalyst for development. He noted that despite …

 The Central Bank of Nigeria will try to eliminate the spread between the official and black market exchange rates against the dollar, the Minister of Finance, Mrs. Kemi Adeosun, has said. The naira is trading on the parallel market some …

 A former governor of Anambra State, Mr. Peter Obi, on Tuesday, said the economic recession in the country would last longer than expected. He stated this at the Nnamdi Azikiwe University, Awka, Anambra State, while inaugurating a building donated to …

 The Federal Government has secured $150m from the World Bank for the solid minerals sector support and economic diversification. The Minister of Mines and Steel Development, Dr. Kayode Fayemi, disclosed this while briefing the press in Abuja on Monday on …

 The Federal Government hopes to raise a total of N565bn from recovered loot and fines to be paid by MTN Nigeria to fund the 2017 budget. The Minister of Budget and National Planning, Udo Udoma, explained on Monday in Abuja …

 Africa’s richest person and President of Dangote Group, Aliko Dangote, has been named along other world leaders such as Russian President, Vladimir Putin; American President-elect of the United States of America, Donald Trump; and German Chancellor, Angela Merkel, as the …

 Monetary authorities in Nigeria are currently being faced with very difficult choices in the trade-off between tackling inflation, supporting growth and exchange rate stability, the Deputy Governor, Economic Policy, Central Bank of Nigeira, Sarah Alade, has said. She noted that …

 The expansion drive of BUA Cement, which commenced last year, will be completed in 2018, the Executive Chairman/Chief Executive Officer, BUA Group, Abdulsamad Rabiu, has said. Rabiu, who disclosed this on Saturday in Abuja at the company’s annual customers’ forum …

 The leadership of the House of Representatives said on Sunday that Nigeria had no choice but to borrow money to fund the 2017 budget. It noted that in a country battling economic recession, the government must spend money to reflate …

 New UN Secretary-General António Guterres on Thursday announced Nigeria’s Environment Minister, Amina Mohammed, as his Deputy Secretary-General. Guterres made the announcement through the spokesman of the Secretary-General, Mr. Stephane Dujarric. The News Agency of Nigeria reports that Guterres also announced …

 The Consumer Price Index, which measures the rate of inflation in the country, rose by 18.48 per cent in November, figures released by the National Bureau of Statistics on Thursday revealed. The NBS said in the CPI report that the …

 Fidelity Bank has emerged as Ghana bank of the year 2016 at The Banker’s 17th annual Bank of the Year awards. The lender disclosed this in a statement, quoting the judges as saying, “In a highly competitive banking sector, Fidelity …

 The Federation Accounts Allocation Committee on Thursday allocated a total of N386.9bn to the three tiers of government for the month of November. The amount, when compared to the N420bn distributed in October, represents a decline of N33.1bn. Addressing journalists …

 The naira closed flat at 485 against the United States dollar at the parallel market on Wednesday, three trading days after the local currency fell against the greenback to the current level. The naira has been under persistent pressure both …