Tuesday, 26 July 2016
Monday, 25 July 2016
Sunday, 24 July 2016
Saturday, 23 July 2016
Naira rises to 307/dollar at interbank market
The naira rose slightly against the dollar at the interbank market to 307 on Friday, up from 310 it closed on Thursday.
The naira had hit had a record low of 330 per dollar at the regular interbank trading on Friday, falling 9.5 per cent as traders tested lower levels seeking to attract liquidity in the absence of the Central Bank of Nigeria interventions.
The naira slipped to 298.50 per dollar on thin volumes at market open and extended losses to trade a total volume of $26.97m by 1203 GMT, Reuters reported.
On Thursday, the naira crossed 300 for the first time and hit 330.50 in off-market trades.
Traders were expecting the CBN to intervene to ease dollar shortages, which did not materialise.
According to traders, the CBN has not intervened for most of this week. Instead it was mopping up naira liquidity to support the currency.
“We are looking at what will be a comfortable rate for sellers to come back to the market,” one trader said, referring to foreign players.
“Most banks are quoting around 300 levels but liquidity is still thin. The central bank hasn’t participated this week,” he said.
The CBN ditched its 16-month-old peg of N197 to the dollar last month. But the lack of liquidity has curbed activity, leaving the CBN as the main supplier of dollars.
Source: Thenigeriablogger
Source: Thenigeriablogger
Friday, 22 July 2016
Buhari Nominates New Supreme Court Justices
Hot on the heels of Buhari’s nomination of Mr. Nsima Ekere and former Senate Leader, Senator Victor Ndoma-Egba as the Managing Director and Chairman
Wednesday, 20 July 2016
Secret Service Investigating Trump Adviser for Alleged Clinton Threat
The Secret Service is investigating aDonald Trump adviser who said in a radio interview that
Tuesday, 19 July 2016
Monday, 18 July 2016
Pokemon Go Server Outage: OurMine Claims Credit for DDoS Attack
A day after players complained about the server outage of popular augmented reality (AR) game Pokemon Go, hacking group OurMine,
Sunday, 17 July 2016
Saturday, 16 July 2016
Friday, 15 July 2016
Fashola gives conditions for stable power supply
The Minister of Power, Works and Housing, Babatunde Fashola, has stated the conditions that must be met for Nigerians to enjoy uninterrupted electricity supply.
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