By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-Godwin Emefiele, governor of the Central Bank of Nigeria (CBN) has said the current $34 billion Nigeria’s external reserve is adequate to meet all legitimate foreign exchange demands. Emefiele made this disclosure on Tuesday at a breakfast meeting with captains of industry and critical stakeholders […]
Money Market
AMCON transfers Enterprise, Mainstreet banks to new owners
The Asset Management Corporation of Nigeria has transferred the ownership of Mainstreet Bank Limited and Enterprise Bank Limited to their new owners, Skye Bank Plc and Heritage Bank Limited, respectively. At the divestment ceremony held in Lagos on Tuesday, Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, warned […]
Naira Now Sells for 210 in Parallel Market
By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)- The Nigerian local currency the naira on Tuesday crashed against the U.S dollar and traded N191.10 reported Monday to N210 at the parallel market (black market). This crash in the exchange rate differential is further worsened by the new directive by the Central Bank […]