External Reserves Drop for First Time Since December
The nation’s foreign exchange reserves, which had increased significantly in recent months to hit the $30bn mark, fell for the first time this year. Latest data from the Central Bank…
N’Assembly approves $500m Eurobond for FG
Nigeria’s economy Both chambers of the National Assembly on Wednesday approved the request by President Muhammadu Buhari for a $500m Eurobond. Vice President Yemi Osinbajo had made the request as…
FEC okays N102.08billion, $1.79b for roads, rail, other projects
The Federal Executive Council (FEC) yesterday approved N102.077 billion and $1.79 billion for roads projects across the country and rail project in the Federal Capital Territory (FCT). Minister of Power,…
Policy issues: CBN, Finance Ministry rift deepens
Hopes of unanimity of positions and harmony of fiscal and monetary policies appear dim following an alleged demand for a review of the powers of the Central Bank of Nigeria,…
CBN Stays Pumping: Naira Now At 6 Months High
“You know what capitalism is? Getting f%&@!&” Scarface Nairametrics| A lot of words have been used to describe the recent CBN intervention in the retail end of the forex market.…
Why Sterling Bank Is Flirting With Exporters
Nairametrics|Tier two lender, Sterling Bank has entered into a partnership with the Nigerian Export Promotion Council (NEPC). The partnership will benefit the bank in two ways. Access to a new…
Lafarge Wapco Pays Dividends “On Tax Credits”
Nairametrics| Shareholders of Lafarge Wapco Plc. have cause to smile as the company declared a dividend of N1.05 per share for the financial year ended December 2016. The cement company…
Head To Head: Nigerian Banks Leave Kenyan Counterparts Eating Their Dust
Nairametrics| Given the economic crisis that rocked Nigeria in 2016, the near dominance that the country was known for in financial circles in the continent was threatened, especially by Kenya…
FG Has Exhausted Borrowing Options With New $500 Million Eurobond
Nairametrics| The Federal Government’s (FG) plan of borrowing its way out of the deficit budget is about complete as the Senate on Wednesday gave its nod of approval to the…
Nigeria’s ERGP, Exchange Rate Is Under Threat From A Familiar Foe
Nairametrics| Nigeria’s plan for economic resurgence, which was contained in the Economic Recovery and Growth Plan (ERGP), has one primary cause for concern. As much as the plan lays emphasis…