BUSINESS

CBN injects $190m, unveils fresh rules to liberalise forex market

Daily Dispatch June 6, 2017

The Central Bank of Nigeria (CBN) on Monday further liberalised the foreign exchange market by unveiling fresh regulations for a more open market. According to a circular signed by Alvan Ikoku, director, financial markets department, the CBN now allows authorized dealers to sell their excess

BUSINESS

400 capital market operators to be de-register by SEC

Daily Dispatch June 6, 2017

The Securities and Exchange Commission (SEC) has threatened to revoke the registration of about 400 capital market experts and professionals if they failed to comply with the directive to provide updated information of their companies by July 31, 2017. This was made known in a circular issued by the commission yesterday in Abuja. According to […]

BUSINESS

Nigeria’s debt rises by N7.1t in two years

Daily Dispatch June 6, 2017

The nation’s total indebtedness to foreign and local creditors now stands at N19.16 trillion, the Debt Management Office has said. This is N1.8 trillion increase from the N17.36 trillion recorded at the end of December 2016. As of March 31, 2015, the country’s total debt stood at N12.06 trillion. This means the debt level increased […]

BUSINESS

NAMA commences implementation of Osinbajo’s Executive Orders

Daily Dispatch June 5, 2017

Ahead of the June 8 deadline for the implementation of the Federal Government’s executive orders on the ease of doing business in the country, the Nigerian Airspace Management Agency, NAMA, says it has begun the process of implementing the directive. The Managing Director of NAMA, Fola Akinkuotu, said the agency had already updated its website […]

BUSINESS

NSE share index hits 23-month high

Daily Dispatch June 5, 2017

Nigerian stocks hit a 23-month high on Monday, extending last week’s rally and helped by gains in cement, fuel retailing and banking shares. A pickup in oil prices and a more stable currency have improved economic prospects in Nigeria, prompting investors to buy into the stock market. Shares rose on Monday for the fifth consecutive […]

BUSINESS

N5 fuel levy: We don’t intend to further burden Nigerians – Senate

Daily Dispatch June 4, 2017

The President of the Senate, Dr. Abubakar Bukola Saraki, has described as both false and wicked the swirling reports about likely fuel hike allegedly being orchestrated by the Senate, saying there is no such intention in the first place. Saraki, who said he was going to order an official statement to that effect, however dismissed […]