…Retail SMIs get $267.3 m; …Wholesale window receives $100m offer; …SMEs get $50m allocation; …BTA, Tuition others get $45m In line with its commitment to sustain and deepen flexibility in the foreign exchange market to further enhance foreign exchange flow in the economy, the Central Bank of Nigeria (CBN) on Friday, July 28, 2017, intervened in the inter-bank Foreign Exchange Market with the total sum of $462,336,426.74. A breakdown of the forex intervention figures obtained from the Bank indicates that the Retail Secondary Market Intervention Sales (SMIS) received the largest allocation…
Read MoreCategory: BUSINESS
Airtel TVN Season 2 Blind Auditions Ends with Epic Performances
The Blind Audition of Airtel The Voice Nigeria Season 2 came to thrilling and emotional end on Sunday night, as the Coaches completed the remaining spots on their teams. Contestants brought their A-Game seeing Coach Timi Dakolo defy the rules with a remarkable 13-member team, instead of 12. He added sisters Tara and Bella, Gerald Agunwobi and Happiness Osasumwen. Having made the most picks in episode 5, Coach Patoranking won over Ese Urinrin to complete his side. Coach Waje won over Amarachi Ugoeke, Daniel James and the final talent for…
Read MoreForex: CBN Boosts Supply With $240m To Retail SMIS
In the last trading day of the week and ahead of June 26 and 27, 2017 holiday declared by the Federal Government to commemorate the Eid-el-Fitr, the Central Bank of Nigeria (CBN) on Friday, June 23, 2017, allocated the total sum of $240 million to the Retail Secondary Market Intervention Sales (SMIS) for spot and forward deals. The Bank, also on Friday, confirmed the sale of forex to dealers in the Bureau de Change (BDC) segment of the market to meet the needs of low-end forex users. According to the…
Read MoreEtisalat vs Banks: CBN, NCC Intervene To Save Jobs, Asset Stripping
Following the deepening crisis between Etisalat and a consortium of 13 Nigerian Banks over a syndicated loan of about US$1.2 billion granted the telecom company by the banks, the Central Bank of Nigeria (CBN) on Friday, June 23, 2017 said the apex Bank and the Nigeria Communications Commission (NCC) decided to intervene in the crisis in order to prevent job losses and asset stripping. Confirming the intervention of the two regulators in the loan dispute, the CBN Spokesman, Isaac Okorafor said: “Although it should ordinarily not be the role of…
Read MoreDHL Express Lauds Employees As Cornerstone Of Success
…Nearly 4, 000 DHL Express employees in Sub-Saharan Africa recognized for their contributions In a network business like DHL Express (www.dpDHL.com), it is imperative that a culture of motivation is inculcated among employees so they will deliver superior service to our customers. The annual DHL Employee Appreciation Week is one such employee engagement initiative. This year, this Africa-wide initiative was run in the month of June in over 50 countries impacting over 4,000 employees. “Special meals, giveaways, fun team activities and long service awards are just few of the ways…
Read MoreAirtel’s The Voice Nigeria Returns, Premieres On June 18
Nigeria’s leading music talent show, The Voice, proudly sponsored by Airtel Nigeria has returned with the promise of an even more exciting journey of talent discovery. The Season will hit TV screens across the country from Sunday, 18th of June, 2017. Contestants for this year’s show emerged at auditions which took place in April in four cities, namely: Abuja, Port Harcourt, Enugu and Lagos. The Voice Nigeria airs on Africa Magic Showcase on channel 151 and Africa Magic Urban on Channel 153 by 7pm. The Airtel sponsored show is bound…
Read MoreInflation: CBN Mops Up N200bn In Special OMO
In its latest move to further rein in inflation, the Central Bank of Nigeria (CBN) has unveiled plans to mop up a total of N200.322 billion from the Nigerian banking system through a special Open Market Operation (OMO) at the rate of 16 per cent per annum. Rising from a meeting of the Bankers’ Committee in Lagos on Thursday, June 15, 2017, the CBN said its decision to mop up liquidity was in reaction to the maturity of N206 billion on Thursday, June 15, 2017. Disclosing this to newsmen, the…
Read MoreDentsu Aegis Network Signs Affiliation Agreement With Outori Limited
One of the leading global advertising networks, Dentsu Aegis Network has strengthened its footprint in West Africa with the signing of Outori, one of Nigeria’s leading Brand and Marketing Communications Agencies, as its affiliate consumer experience agency in the market. Dentsu Aegis Network Sub Saharan Africa (SSA) is part of the global media group that specialises in media, digital and creative communications and spans over Southern Africa, Nigeria, Ghana, Kenya and Tanzania with both owned businesses and affiliates and affiliate partnerships in another 32 markets across SSA. Outori is one…
Read MoreOil and Gas: Stakeholders Seek Infrastructure Deficit Map
The Petroleum Technology Association of Nigeria (PETAN) has advised that an infrastructure Deficit Map be create as the county looks forward to attracting investment in the oil and gas sector to show areas and opportunities available for investment. The call was part of the resolutions contained in a communique issued at the end of the Offshore Technology Conference (OTC) 2017 held recently in Texas, USA by PETAN, signed and made available to LEADERSHIP by its Chairman, Bank-Anthony Okoroafor. The communique noted that with a graphic infrastructure Deficit map in place,…
Read MoreGateway Trade Fair: OGUNCCIMA Lauds Dangote Group’s Collaboration
…As Group’s subsidiaries offer products at subsidised prices The Ogun State Chamber of Commerce, Industry, Mines and Agriculture (OGUNCCIMA) has commended the Pan African Conglomerate, Dangote Group (www.Dangote.com) for its giant strides in economic development of the country through massive investments in several sectors of the economy describing the feat as worthy of emulation by other Nigerians. President of OGUNCCIMA, Mrs. Adesola Adebutu who made this commendation at the opening ceremony of the 8th Gateway Trade Fair holding in Abeokuta Ogun state said the support given enough by the Dangote…
Read More