The United Bank for Africa (UBA) plans to open a branch in Saudi Arabia as part of its expansion as a global bank. The Group Managing Director (GMD) Mr Oliver Alawuba, disclosed this at a send-forth dinner held in honour of the bank’s retired non-executive directors in Abuja on Wednesday night. He added that the bank would expand its operations …

The Naira yesterday appreciated to N1,695 per dollar in the parallel market from N1,725 per dollar on Tuesday. The Naira remained stable at N1,672.69 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for the naira has maintained stability since Monday following the commencement of live foreign exchange trade on …

In its determination to produce the next generation of young designers who will go on to capture the imagination of the world in fashion, Polaris Bank partnered, with Amtis Skills Place, a body dedicated to producing contemporary vocational skills to young Nigerians to identify, train and mentor young designers through the 2024 Amtis Fashion Competition. Since its inception in 2015, …

The Naira yesterday appreciated to N1,725 per dollar in the parallel market from N1,730 per dollar on Monday. The Naira was stable at N1,672.69 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for the naira has maintained stability since Monday. The volume of dollars traded (turnover) decreased by 18.2 …

The Central Bank of Nigeria (CBN) is reported to be preparing to retire approximately 1,000 employees as part of a strategic workforce realignment. A severance package worth over N50 billion was said to have been allocated as the payoff for the exercise. According to an insider, the retirement initiative is driven by the need to streamline operations and reduce staff …

The Naira yesterday appreciated to N1,740 per dollar in the parallel market from N1,745 per dollar on Wednesday. Likewise, the Naira appreciated to N1,644.86 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,644.86 per dollar from N1,660.83 per dollar on Wednesday, indicating N15.97 appreciation for …

The Naira yesterday appreciated to N1,745 per dollar in the parallel market from N1,755 per dollar on Tuesday. The Naira depreciated to N1,660.83 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,660.83 per dollar from N1,659.44 per dollar on Tuesday, indicating N1.39 depreciation for the …

The Naira yesterday appreciated to N1,755 per dollar in the parallel market from N1,770 per dollar on Monday. Similarly, the Naira appreciated to N1,659.44 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,659.44 per dollar from N1,675.62 per dollar on Monday, indicating N16.18 appreciation for …

The Monetary Policy Committee of the Central Bank of Nigeria has raised the country’s interest rate by 25 basis points to 27.50 per cent in November from 27.25 per cent in September 2024. The Governor of CBN, Olayemi Cardoso, disclosed this during a press briefing on Tuesday after the 298th MPC meeting in Abuja. “The Committee was unanimous in its …

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria is projected to maintain its inflation-tightening stance at its last meeting of the year in the face of rising inflation. At its September meeting, the Committee raised the Monetary Policy Rate by 50bps to 27.25 per cent, emphasising concerns over core inflation, money supply growth, fiscal deficits, and food …