Nigerian billionaire and Africa’s richest man Aliko Dangote has scored yet another first. This time, he has been named the Africa’s first $20 billion man, thus becoming one of the top 25 richest men in the world. With a current market cap of $20.5 billion, Dangote Cement becomes the first […]
World News
Cashing of third-party cheques above N150,000 stops today
The cash-less policy of the Central Bank of Nigeria enters a new phase today (Monday) as the maximum ceiling of N150,000 placed on conversion of third-party cheques to cash by individuals takes off. The implication is that any cheque above N150,000 originating from a third party must be lodged into […]
Rand Retreat Triggers Record Currency Futures Trading
The plunging rand drove currency futures trading on South Africa’s exchange to a record this month amid bets for further depreciation. Trading rose to 40 billion rand ($3.9 billion) this month, the most ever, Warren Geers, the JSE Ltd. (JSE)’s general manager for bonds and financial derivatives, said in an e-mailed […]
