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The Central Bank of Nigeria on Tuesday announced the restriction of sale of foreign exchange to importers of textiles and other clothing materials. Godwin Emefiele, CBN governor,  said this in Abuja during a meeting with stakeholders in the cotton value chain. He said the restriction which takes immediate effect was to encourage the growth of […]

 Oil prices fell on Tuesday as China cut its 2019 economic growth target, dimming the outlook for fuel demand, although OPEC-led efforts to cut output still offered some support. U.S. West Texas Intermediate (WTI) crude oil futures were at 56.31 dollars per barrel at 0740 GMT, down 28 cents, or 0.5 per cent, from their […]

Cheap valuations on West Africa’s regional stock exchange are tipped to improve its attractiveness as strength in two of the continent’s fastest-growing economies helps spur a rebound from a record slump last year. Stocks traded on the Bourse Regionale des Valeurs Mobilieres — an exchange covering seven Francophone countries and Guinea-Bissau — could be among […]

Stocks were mixed on Tuesday as investors searched for direction amid lower growth forecasts and tax cuts in China and speculation that a Sino-American trade deal is near. Treasuries dipped while the dollar strengthened for a fifth day.   The Stoxx Europe 600 Index erased an earlier gain, with automakers dragging the gauge lower, while S&P 500 […]

The Nigerian Electricity Regulatory Commission (NERC) has granted certificate of ‘no objection’ to 121 metering firms to procure and install electrical meters to yet-to-be metered power consumers in Nigeria through its Meter Assets Providers (MAP) scheme. . This was disclosed in a recent document on the MAP released by the NERC in Abuja, and in […]

Currency in circulation dropped by N189.33bn to N2.139tn at the end of January 2019 from N2.329tn as of December 2018, according to the Central Bank of Nigeria. Currency in the country is issued to Deposit Money Banks through the branches of the CBN and unfit notes are retrieved through the same channel. Some experts have […]

Godwin Emefiele, governor, Central Bank of Nigeria, Mr Godwin Emefiele, has not resigned from the apex bank, it has been learnt. There had been speculations on Monday that President Muhammadu Buhari had asked the apex bank boss to proceed on terminal leave. The leave, according to some online media,  was to last for three months […]