Naira hits the roof at inter-bank market

The naira on Friday strengthened against the dollar at the inter-bank market as the parallel market remained volatile. The Nigerian currency traded at N314.95 against the dollar in contrast with N338.75 it recorded at the […]

Economic Recession: Blame Jonathan – Sanusi

The Emir of Kano, Alhaji Muhammad Sanusi, on Wednesday attributed the current economic recession in the country to inability of the past administrations to diversify the economy. He made the remark while delivering a lecture […]

9 banks banned from further forex transactions

Nine of the deposit money banks in the country have been banned from further foreign exchange transactions for their refusal to remit outstanding $2.334 billion Nigerian National Petroleum Corporation (NNPC) funds in their coffers. The […]

Oil prices fall on tuesday and extends losses

Oil prices fell on Tuesday, extending the previous session’s sharp losses caused by prospects of another increase in supplies. Around 1200 GMT, Brent North Sea crude for delivery in October had lost 36 cents to […]

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