Naira appreciates at parallel market

The Naira on Friday sustained its gains against the dollar as liquidity boost by the Central Bank of Nigeria had forced a crash in the price of the greenback. In Lagos that the Naira exchanged at N460 to a dollar at the parallel market, gaining 40 points from N500 it recorded on Thursday. The Pound Sterling and the Euro traded at N575 and N480 respectively. At More...

by Bar and Bench | Published 2 days ago
By Bar and Bench On Thursday, February 23rd, 2017
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Naira exchanges at N500/dollar at parallel market

The Naira on Thursday consolidated its gains against the dollar at the parallel market, few days after the CBN announced a new forex policy. The Nigerian currency exchanged at N500 to a dollar after closing at More...

By Bar and Bench On Thursday, February 23rd, 2017
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Naira continues gain, closes at 505/dollar

The naira recorded further gain against the United States dollar on the parallel market on Wednesday, reversing part of the loss it had recorded in recent days. Specifically, the naira rose to 505/dollar on Wednesday, More...

By Bar and Bench On Tuesday, February 21st, 2017
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Court frees Indian brothers, sets aside committal order

A Federal High Court sitting n Lagos has freed three Indian brothers, who were sent to prison custody for one month for disobedience of court order. Affected by the court’s order were Chandru Ganglani, Bharat More...

By Bar and Bench On Monday, February 20th, 2017
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Naira is Africa’s worst currency under Buhari’s govt, says Ekweremadu

Deputy President of the Senate, Senator Ike Ekweremadu, on Monday, carpeted President Muhammadu Buhari-led government on its management of the nation’s economy, saying the country had suffered more crises than More...

By Bar and Bench On Monday, February 20th, 2017
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CBN empowers banks to sell more BTAs, PTAs

The Central Bank of Nigeria (CBN) on Monday reviewed the foreign exchange policy, empowering banks to sell more forex to travellers and those paying school fees and medical treatment. The new foreign exchange policy More...

By Bar and Bench On Friday, February 17th, 2017
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Why FG temporarily seized fiscal support allocation to Ekiti–Adeosun

Finance Minister, Mrs. Kemi Adeosun, on Thursday said that the Federal Government seized the fiscal support allocations due to Ekitii State owing to the state’s refusal to confirm with regulations regarding disbursement More...

By Bar and Bench On Thursday, February 16th, 2017
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Nigeria’s total debt is N17.36 trillion as at December 2016 – DMO

The Director-General of the Debt Management Office, DMO, Abraham Nwankwo, said that the nation’s total debt profile as at December 31, 2016 was $57.39 billion (N17.36 trillion). He made this known when defending More...

By Bar and Bench On Wednesday, February 15th, 2017
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Naira exchanges at N510/$ at parallel market

The Naira has continued to depreciate at the parallel market in spite of the steady rise in the nation’s foreign reserves. The Nigerian currency lost three points at the parallel market to exchange at N510 on More...

By Bar and Bench On Tuesday, February 14th, 2017
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AMCON takes over another airline

The Asset Management Corporation of Nigeria (AMCON) has taken over Odengene Air-Shuttle Services (OAS) Helicopters in Lagos following a court order. The News Agency of Nigeria (NAN) gathered that AMCON had on Tuesday More...