Economy

By Steve Ndubueze, Correspondent Nigeria’s Naira may lose ground due to rising foreign-currency demands, despite raising $900 million from a domestic dollar bond sale. Naira was quoted at N1,650 to a dollar on the official market on Thursday. Data from London Stock Exchange Group, LSEG Plc, shows same rate at which the currency was changing hands in the black market. This was compared with a closing rate of about N1,592, a week earlier. “The dollar increase in itself does not translate to an appreciation, until the Central Bank of Nigeria, CBN, puts out those dollars to the market,” a trader ...

Elected officers and INEC officials in a group pix, after the swearing-in   By Sylva Emeka-Okereke, JP, Publisher   Residents of Journalists Estate Development Association, JERDA, Phase One, Arepo yesterday elected its new executive council for the next two years. The election, which started from11am-2pm on Saturday, March 30, saw Barr. Jide Oke returned unopposed, as the Chairman of the foremost journalists estate in Africa. Declaring the results of the affirmative election, the Chairman of the Electoral Committee, Mr Akin Jimoh said, Oke polled 50 out of the 55 votes cast with 2 votes against him, while 3 were voided. ...

     By Sylva Emeka-Okereke, Publisher.                                                                       Director-General of the Nigeria Employers’ Consultative Association (NECA), Mr Adewale-Smatt Oyerinde  has expressed serious concerns over the recently-introduced fiscal policy measures, as well as tariff adjustments for the year 2023.                                                              ...

                   NECA DG, Mr Ayorinde By Steve Ndubueze, Correspondent.                                                                                The call by the International Monetary Fund, IMF, for the Federal Government to increase taxes in order to reduce borrowing has met serious disagreement from the Nigeria Employers Consultative Assembly, NECA.                            ...

       Pix showing DG, NECA, Mr Oyerinde looking into the future with reassured hope for a brighter future.  Story By Sylva Emeka-Okereke, JP, Publisher.                                                                                                                                    Piqued by the threatening economic chalenges, caused by serious ...

          Pix showing DG, NECA, Mr Oyerinde explaining some points during an engagement in Lagos state   Story By Sylva Emeka-Okereke, JP, Publisher.                                                                                                                                     Piqued by the threatening economic chalenges, caused by serious ...

NECA DG, Mr Oyerinde Story by Sylva Emeka-Okereke, JP, Publisher Organized Private Sector, OPS, Nigeria will on Tuesday, January 17, engages all the political parties on economic agenda for the nation.   The OPSN comprises the Manufacturers Association of Nigeria, MAN; the Nigeria Association of Chambers of Commerce, Industry, Mines and Agriculture, NACCIMA; the Nigeria Employers’ Consultative Association, NECA, and the Nigeria Association of Small Scale Industries, NASSI. Others include, the Nigeria Association of Small and Medium Enterprises, NASME; the Association of Nigerian Women Business Network, ANWBN, as well as the Institute of Directors Centre for Corporate Governance, IoDCCG, in ...

The official dollar-to-naira exchange rate in Nigeria today includes, the Black Market rates; Bureau De Change (BDC) rate; and Central Bank of Nigeria (CBN) rates. Black Market Exchange Rates–Buying Rate Selling Rate, November 1, 2022 Dollar to Naira  ₦765 ₦768 Pounds to Naira ₦835 ₦848 Euro to Naira    ₦728 ₦740 Canadian Dollar to Naira    ₦490 ₦510 Rand to Naira    ₦31  N38 Dirham to Naira ‎₦‎155 ₦165 Yuan to Naira    ₦‎80  ₦90 G.Cedi to Nair   ₦‎75  ₦85 CFA F. (XOF) To Naira     ₦‎945 ₦965 CFA F. (XAF) To Naira      ₦‎900 ₦920 Exchange Rate of Dollar To Naira in Black Market, October ...

EU Executive Members Sylva Emeka-Okereke with Agency Report European Union, EU, and its development finance institutions have approved 1.29 billion euros, about $1.3 billion to help Nigeria to diversify its economy from oil, a document from the bloc has confirmed. The funding will cover about 57 projects, including nature-based measures to reduce climate change vulnerability, combating deforestation and desertification, and a waste-to-energy initiative in Cross River state. According to Reuters, a document from the EU showed that the funding will be provided until 2027 under the EU’s “Green Deal” initiative. It will, among other things, focus on enhancing access to ...