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Naira appreciates to N516 per dollar

Nigerian Naira has gained strength at the parallel market for the first time in several weeks as it now trades at N516 per United States dollar on Tuesday, February 21. The Naira gained four points to trade at N516 from the N520/dollar rate on Monday, February 20. The local currency also appreciated to N630 against the Pound sterling from N635 and N540 from N545 against the Euro. This comes after the Central Bank

Oil prices resumed their rise Thursday and held above the $50 barrier

Oil prices resumed their rise Thursday and held above the $50 barrier following OPEC's decision to carry out its first output cut in eight years. The Organization of the Petroleum Exporting Countries at a meeting in Vienna on Wednesday agreed on specific targets to enact a preliminary deal struck in September designed to ease a global crude supply glut and boost prices. Many analysts had expected the producers' cartel to fail to

How Buhari can crash the Dollar/Naira disparity – Ifeanyi Ubah

Billionaire and Managing Director of Capital Oil and Gas, Dr. Ifeanyi Ubah, has offered the President Muhammadu Buhari-led administration what he described as the solution to the biting recession, as well as crash the proliferating Dollar/Naira disparity in the foreign exchange market. Speaking at the World Youth Gathering, Holy Ghost Adoration Ground, Uke in Idemili North Local Government Area of Anambra State, Ubah lamented, stating that there was nothing wrong with

MMM is a fraud!!! CBN warns Nigerians patronizing MMM

The Central Bank of Nigeria (CBN) has warned Nigerians against patronizing the Ponzi scheme company, MMM Federal Republic of Nigeria. The apex bank in its recent warning said the scheme is fraudulent, not regulated and is not in tandem with any known business model. CBN also described the investment scheme as a ‘wonder bank’. The Central Bank of Nigeria (CBN) has warned Nigerians against the use of MMM Federal Republic of

Nigeria would’ve collapsed under Buhari!

Amidst cries of hunger and hardship presently ravaging the country, Chief John Odigie-Oyegun, the National Chairman of All Progressives Congress (APC), said, but for Muhammadu Buhari, Nigeria would have been in worst situation. Oyegun, who described President Buhari as God-sent to salvage the country, maintained that Nigeria would have collapsed if not for the timely emergence of Buhari. The APC national Chairman made this pronouncement in Sokoto on Friday while declaring open

Naira bounces back against the dollar

The Naira recovered from N470 it traded on Wednesday to close at N465 at the parallel market on Thursday, October 27. The Naira also recorded a feat at the trading at the Bureau De Change (BDC) window, closing at N385 to a dollar. Currency dealers say the Naira is expected to retain its recovery trajectory due to liquidity boost at the market.The Naira also recorded a feat at the trading

Buhari promises to Return Nigeria To Good Old Days

President Muhammadu Buhari announced on Tuesday that his administration is determined to return Nigeria to the “good old days of accountability.” The president said this while addressing a meeting with the Director of Global Upstream of the Shell Oil Company, Andrew Brown, in Abuja on Tuesday. Specifically, Mr. Buhari said his administration would improve national infrastructure and bring peace to the Niger Delta. President Muhammadu Buhari announced on Tuesday that his administration

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