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Banks’ Borrowing from CBN Window Surges June 5, 2018

Commercial and merchant banks in the country visited the Central Bank of Nigeria’s (CBN) Standing Lending Facility (SLF) window, a window for banks to borrow from the CBN more frequently in 2017, compared with the previous year, due to the tight monetary policy stance of the Bank, a report has shown. Read more

Transactions Value on NSE Jumps 114 % to N1.1tn in Four Months June 5, 2018

The value of transactions on the Nigerian bourse between January and April 2018 stood at N1.091 trillion, showing a jump of 114.2 per cent compared to N509.4 billion recorded in the same period of 2017. Read more

Nigeria records $24.7bn forex inflow in three months June 5, 2018

The Nigerian economy recorded a total foreign exchange inflow of $24.71bn, figures obtained from the Central Bank of Nigeria have revealed. The apex bank said the inflow was recorded as a result of the continued stability in the foreign exchange market promoted by improved dollar liquidity at the Investors’ and Exporters’ window of the market. […]

CBN postpones USSD framework implementation June 5, 2018

The Central Bank of Nigeria has extended the start date for the implementation of the regulatory framework for use of unstructured supplementary service data in the country’s financial system. Read more

OTC trade settlement: CBN orders banks to pledge N1bn June 5, 2018

The Central Bank of Nigeria has ordered the pledge of N1bn worth of government or the CBN securities as collateral for over-the-counter trade settlement by the Deposit Money Banks. Read more

Campaign to rebrand insurance industry kicks off June 1, 2018

Owing to the low contribution of the insurance sector to the Gross Domestic Product, GDP, and the poor perception by the general public, a nationwide campaign to rebrand the industry is set to kick off in June, 2018. Read more

Power sector regulator dumps MYTO June 1, 2018

The Nigeria Electricity Regulatory Commission (NERC) has dumped the Multi Year Tariff Order (MYTO) with which it regulates the cost of electricity in the Nigeria Electricity Supply Industry (NESI). Its Chairman, Prof James Momoh spoke yesterday in an interview in his office, NERC building, Abuja yesterday.Read more

Oil prices steady after shake-out on supply worries June 1, 2018

Oil prices steadied yesterday after slipping prices on concerns that Saudi Arabia and Russia will pump more crude in response to falling global crude inventories and rising consumer prices. Saudi Arabia and Russia have discussed raising the Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC oil production by one million barrels per day (bpd) to […]

Trans-Forcados Oil Terminal delays add to supply concerns June 1, 2018

There are concerns that following disruptions of the oil flows on the pipeline feeding the Trans-Forcados terminal in Nigeria, the facility faces more than two weeks of delays of oil cargo loadings, as no official June or July loading schedules have been released yet, oil industry sources said yesterday. Read more

Naira would remain at N360, until production, export improve — CBN June 1, 2018

The Central Bank of Nigeria, CBN, has disclosed that the naira would continue to exchange at N360 to a dollar until production and export of goods increases significantly in the country. Read more

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