1. Naira stable at N388 to US$
2. Heritage Bank, Triton Aqua plan more jobs with N2b facility
3. Official exchange rate redundant, Soludo tells CBN
4. FG, CIPM partner on economy, business through human resources
5. Mobil workers to cut 660,000 bpd oil production over anti-labour practices
6. Again, oil prices hit over $50 per barrel
7. NNPC evolves scheme to boost gas supply by 285 per cent
8. FIFA ratifies nine World Cup slots for Africa
Naira Stable At N388 To US$
The naira was stable at N388 per dollar at the parallel market Wednesday. Vanguard survey revealed that while the parallel market exchange rates ranged from N383 per dollar to N389 per dollar, the average closing rate is N388 per dollar at the close of business Wednesday. Meanwhile the Central Bank of Nigeria (CBN) is expected to sell $20,000 to each of the over 3000 bureaux de change, hence boosting dollar supply and hopes of further naira appreciation before the end of the week.
Heritage Bank, Triton Aqua Plan More Jobs With N2b Facility
The N2 billion long-term facility Heritage Bank Plc and Central Bank of Nigeria under the Commercial Agriculture Credit Scheme (CACS) gave to Triton Aqua Africa Limited (TAAL) has continued to boost job creation. The Managing Director of Heritage Bank Plc, Ifie Sekibo, who made this known at the weekend, led a team of the bank’s senior management on fact-finding mission to the company’s facilities.
Official Exchange Rate Redundant, Soludo Tells CBN
A former Governor of the Central Bank of Nigeria, Prof. Charles Soludo, says the apex bank’s official exchange rate of N306 to the dollar has become redundant, describing it as an instrument for rent seekers and arbitrary allocation of scarce foreign exchange in the country. As a result, he said the CBN must achieve a unified market-determined exchange rate by eliminating the current multiple exchange rates as a matter of urgency.
FG, CIPM Partner On Economy, Business Through Human Resources
The Federal Government and the Chartered Institute of Personnel Management (CIPM) are to partner on the best ways to tackle economic and business challenges using Human Resource Management (HRM) as a tool for sustainability. Besides, the Institute also seeks greater government and other stakeholders’ involvement to discuss and cross-fertilize ideas to come up with practical solutions on employee engagement and positively impact organisations.
Mobil Workers To Cut 660,000 bpd Oil Production Over Anti-Labour Practices
Just as crude oil production is increasing from its lowest ebb as a result of attacks on oil and gas installations by Niger Delta agitators, there is a fresh threat from the workers in the oil and gas industry that can affect the production in the country, just as the picketing of all ExxonMobil Nigeria entered the second day on Wednesday. The workers, under the aegis of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), have started gradual withdrawal from oil and gas installations belonging to Mobil Producing Nigeria Unlimited, the Nigeria’s ExxonMobil arm.
Again, Oil Prices Hit Over $50 Per Barrel
Nigeria’s Bonny Light and other crude oil grades have risen from $49 per barrel to over $50 per barrel in the global market following a significant drop in the inventories of United States yesterday. A survey of the oil markets showed that the price of Brent, usually used to benchmark other crude oil grades rose from $46 to $50.42 per barrel.
NNPC Evolves Scheme To Boost Gas Supply By 285 Per Cent
The Nigerian National Petroleum Corporation, NNPC, and its partners have evolved a scheme to grow gas supply for domestic consumption by 285 per cent. The NNPC said this in a statement signed by its Group General Manager, Group Public Affairs Division, Ndu Ughamadu, in Abuja on Wednesday. Mr. Ughamadu quoted the Group Managing Director of the NNPC, Maikanti Baru, as having said this while addressing partners at a 7 Critical Gas Development Projects (7CGDP) stakeholders’ meeting in Abuja.
FIFA Ratifies Nine World Cup Slots For Africa
The FIFA Council has ratified the decision to give Africa nine automatic places when the World Cup expands to 48 teams in 2026. The move was confirmed on Tuesday in Bahrain – the continent currently has five spots at the tournament. A tenth African country will take part in a six-nation play-off tournament to decide the last two spots.