Naira Sells For N444/$ As CBN Sustains Fx Intervention
Following last Wednesday’s sale of a total of $150 million through foreign exchange, forex, forwards by the Central Bank of Nigeria, the Naira slightly appreciated at the street market closing Friday at N444 to the dollar. The CBN sold a total of $150 million to authorised forex dealers in the interbank at the highest bid rate of N335/$1 and a marginal rate of N320/$1.
FG’s Stakes In Multiple LNG Projects Led To Their Delay – Brass LNG Chairman
A former Group Managing Director (GMD) of the NNPC and Chairman of Brass LNG, Mr. Jackson Gaius-Obaseki, and other industry stakeholders in an interview monitored on the Nigerian Television Authority (NTA), said the decision by government to undertake three LNG projects led to the failure to complete any of them, reports.
World Bank Approves $57bn For Nigeria, Others
The World Bank Group has announced the approval of $57bn for Nigeria and other sub-Saharan African countries for the next three years. A statement issued by the bank in Abuja on Monday said the World Bank Group President, Jim Yong Kim, made the announcement before leaving for a trip to Rwanda and Tanzania to emphasise its support for the entire region.
Breaking: AMCON Sells Keystone Bank
Keystone Bank Limited, the last amongst the batch of banks acquired by Central Bank of Nigeria, under the leadership of Sanusi Lamido Sanusi, in 2009 has finally been sold off, after nearly eight years of legal tussles with the original owners under the brand name, Bank PHB. The Asset Management Company of Nigeria, AMCON, in a statement last night, said the bank was sold to Sigma Golf Nigeria Limited and Riverbank Investment Resources Limited (the Sigma Golf – Riverbank consortium).
Workers Berate Goverment’s Privatisation Programme
The Public Services International (PSI) has flayed the entire privatization exercise of federal government, describing it as unfavourable to worker. Besides, the Lagos State Council of Trade Union Congress (TUC) has decried the recent bill passed by the Lagos State House of Assembly, denying Lagosians access to water. Speaking at the African regional council meeting in Lagos, the vice chairman of PSI, comrade Adeyemi Peter, said the entire privatisation process in Nigeria is detrimental to workers’ welfare.
NEITI Worried About States’ Debt Profiles
Nigeria Extractive Industries Transparency Initiative (NEITI) has expressed concerns over the rising debt profile of state governments in the country. Nigeria had secured over $18billion legacy debts cancellation from the Breton-wood institutions – World Bank and the International Monetary Fund (IMF) during the past administrations, but many states are plunging the country back into the debts, which are being guaranteed by the Federal Government.
Nigeria’s E-Passport Database In Malaysian Firm’s Custody
The Nigeria Immigration Service (NIS) is not in charge of the country’s e-passport central database where all travel documents of its citizens are stored. Investigations by LEADERSHIP has revealed that over ten years after the federal government, through the NIS, entered into a public private partnership with a Malaysian based firm, Irish Technology Limited (ISTL), for the upgrading of travel documents of Nigerians to an internationally compliant e-passport, the Service is still not in charge of the central database.
Paris Club Refund: FG Releases Disbursement Template
As various states seek the release of the second tranche of the Paris Club refund, the Minister of Finance, Mrs. Kemi Adeosun, yesterday, released guidelines for further disbursement in line with extant rules and regulations. Adeosun, who said the Ministry was reconciling its books with those of various states on the monies earlier released to ensure it was used for the intended purpose, noted that the overriding consideration for any further releases will be the current and projected cash flows of the federation as well as the outcome of the independent monitoring of compliance with terms and conditions attached to the previous releases.
7.8m Permanent Voter Cards Yet To Be Collected – INEC
The Independent National Electoral Commission, INEC, said yesterday that over 7.8 million Permanent Voter Cards (PVC) are yet to be collected. INEC chairman Prof Mahmood Yakubu, who stated this at the maiden quarterly consultative meeting with the media in Abuja, appealed to those yet to collect their PVCs to visit their local government areas to collect their cards. He also announced that the Continuous Voters Registration will start in April ahead of the 2019 general elections.
Ambode Tasks Auditors On Rules, Economic Recovery
Rules and standards of the profession must be observed to promote sound financial institutions that support and facilitate economic recovery, Lagos State Governor, Akinwunmi Ambode, has said. The Governor, who spoke at the ninth yearly retreat/general meeting of the Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN), a sub-committee of the Bankers’ Committee of Central Bank of Nigeria (CBN), said auditors are at vantage position to enforce the rules and standards.