Get all the latest information on businesses and companies in Nigerian Stock Exchange.
In: News
19 Feb 2009Prof. Soludo, the CBN Chairman was currently interviewed by the BBC on the new restrictions placed on banks in order to stabilize the Naira. Some of the highlights are that:
In: News
14 Jan 2009The CBN board met yesterday to discuss the continuing devaluation of the Naira. The Naira had fallen so much that it was trading for N160 to a dollar. Some of the steps to be taken include:
1. Specifically, Soludo said operations of Bureaux de Change (BDCs) would be streamlined to reflect what is obtainable worldwide.
2. Besides, all the loose ends in foreign exchange market would be plugged with proper documentation that would require reasons for requests for foreign exchange by banks on behalf of their customers. Erring banks would be sanctioned with suspension from the foreign exchange market.
In: News
27 Aug 2007First, it was the news that the Naira will be revalued. It was then followed by the news that the Federal Government was not informed and that they were caught off-guard by Soludo’s announcements – that he did not inform or consult the President before making the pronouncement. Then the news that the CBN did [...]
In: News
16 Aug 2007The CBN head has announced a new Naira policy – the Naira will be redominized. The new plan essentially calls for the chopping off of 2 zeros from the currency. It is to go in to effect August 2008. The N100, N200, N500, and N1000 notes will be scrapped. N20 will now be the highest [...]
This blog is dedicated to informing users on the latest business and economic news news from the CBN and Nigerian Stock Exchange. Happy reading!