Year: 2023

An Abuja High Court on Friday ordered that the suspended Central Bank (CBN) Governor, Godwin Emefiele be remanded in Kuje correctional centre until Nov 22. Justice Hamza Muazu gave the order and adjourned until Nov. 22 when Emefiele’s bail application will be heard. Emefiele was arraigned on a six-count charge before Justice Muazu.

The Nigerian Naira had a mixed performance against the US dollar. The Naira depreciated by 2.70% in the official market, closing at N841.14 to the US dollar compared to the previous rate of N818.99.

The Nigerian Exchange (NGX) still maintained an uptrend following the inflation surge. Stockholders sought to rebalance their portfolio which keep trading activities in the local bourse on a tight nose. However, bulls prevailed, and this pushed key performance indicators upward by 0.02%.

Addis-Ababa (Ethiopia) some financial experts have called for the removal of visas by countries on the continent to encourage the free movement of means of production. This they said would also drive trade on the continent.

Pan-African banking group, Ecobank and the African Guarantee Fund (AGF), a specialized pan-African guarantee provider…

The US dollar was mixed against its major trading partners — up versus the pound and Canadian dollar, down versus the euro and yen — early Thursday.

The Nigerian naira fell to a new record low of N1,105 to the U.S. dollar on the official market on Thursday down from N830 at its close on Wednesday, LSEG data showed.

A Federal High Court in Lagos on Monday adjourned the trial of a former Speaker of the Lagos State House of Assembly, Adeyemi Ikuforiji, for alleged N338.8 million money laundering.

The Organised Labour has explained why it suspended the nationwide indefinite strike that commenced on Nov. 14. Mr Emmanuel Ugboaja, General Secretary of Nigeria Labour Congress (NLC), explained the action in a statement he jointly signed by Mr Nuhu Toro, Secretary General, Trade Union Congress(TUC), on Wednesday in Abuja.

Brent price declined by 0.5% to US$80.78 per barrel as US crude inventories rose. Also, West Texas Intermediate crude fell 0.5% to US$76.25 at last look early Thursday.