FXTM Analyst: Nigeria’s failure to get out of recession brought undeniable disappointment

FXTM Analyst: Nigeria’s failure to get out of recession brought undeniable disappointment

Lukman Otunuga, a research analyst at FXTM, says there was an undeniable feeling of disappointment across Nigerian markets, as the country failed to get out of recession in Q1 2017.The post FXTM Analyst: Nigeria’s failure to get out of recession...
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Markets mixed as investors tread carefully

Markets mixed as investors tread carefully

The Greenback was under pressure on Tuesday with prices finding comfort near a six-month low against a currency basket as political turmoil in Washington weighed heavily on sentiment. A growing sense ofThe post Markets mixed as investors tread carefully appe...
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BREAKING: Again, CBN MPC holds interest at record high

BREAKING: Again, CBN MPC holds interest at record high

The monetary policy committee (MPC) of the Central Bank of Nigeria (CBN) decided to hold key interest rate at record 14 percent, while seeking convergence in foreign exchange market. GodwinThe post BREAKING: Again, CBN MPC holds interest at record high...
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BREAKING: GDP contracts as Nigeria’s worst recession in 29 years continues

BREAKING: GDP contracts as Nigeria’s worst recession in 29 years continues

The Nigerian economy remains in its worst recession in 29 years! The National Bureau Statistics confirmed this on Tuesday, as it released the gross domestic product (GDP) report for theThe post BREAKING: GDP contracts as Nigeria’s worst recession in 29.....
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Human trafficking proceeds hit $32b, says ECOWAS chair

Human trafficking proceeds hit $32b, says ECOWAS chair

• Liberian leader seeks strict policy implementation The proceeds of human trafficking in West Africa has risen to $32billion yearly, Chairman, Economic Community of West African States [ECOWAS] Permanent Representative and Liberia President, Ellen Sirleaf J...
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FMBN disburses N2.3b housing renovation loans

FMBN disburses N2.3b housing renovation loans

The Federal Mortgage Bank of Nigeria (FMBN) says it has disbursed N2.3 billion to 3,104 beneficiaries under its housing renovation loans scheme nation wide. Its Managing Director, Ahmed Musa Dangiwa who spoke yesterday in Sokoto while flagging off the state’...
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Fed Govt slams higher interest rate on tax debtors

Fed Govt slams higher interest rate on tax debtors

The Federal Government has approved a new interest rate spread on unpaid taxes for this year. The new interest rate was approved by the Minister of Finance, Mrs. Kemi Adeosun. According to the Minister, the new interest rate shall be five per cent over the Cen...
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CAC phases out physical application submission

CAC phases out physical application submission

The Registrar-General, Corporate Affairs Commission (CAC), Bello Mahmud yesterday said the commission has phased out physical submission of new applications for registration in its six states offices. The states are Abuja, Lagos, Kano, Kaduna, Enugu and Rivers...
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Nigeria’s cocoa purchases slow on low bean weight

Nigeria’s cocoa purchases slow on low bean weight

Purchases of Nigerian midcrop cocoa have slowed following a high incidence of beans that failed to develop fully and the relative low weight of matured ones, buying agents in the main cocoa-producing southwest region have lamented. The late arrival of rains in...
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CBN Intensifies Supply In Forex Market

CBN Intensifies Supply In Forex Market

The Central Bank of Nigeria has injected over 205 million dollars into the foreign exchange market. The intervention comes ahead of the conclusion of the ongoing Monetary Policy Committee meeting in Abuja, A breakdown of the fund showed that 100 million dollar...
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