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National Information Technology Development Agency (NITDA), Nigeria’s IT clearinghouse and the National Information Technology Agency (NITA), Ghana’s agency responsible for implementing IT policies have agreed to collaborate on common grounds as it affects...

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CBN sells FX, naira eases against dollar

Nigeria’s central bank asked for bid-offer quotes from currency traders on Monday as it sold dollars on the interbank market to boost liquidity, traders said. The naira NGN=D1 ended at 282 to the dollar after the central bank’s intervention, slightly weaker than Friday’s close of 281. After abandoning the naira’s 16-month old exchange rate peg a week ago, the central bank...

Sterling Bank introduces flexible work conditions for staff

Sterling Bank says it has come up with a policy that allows flexibility in work arrangement to promote work-life balance for its staff. In a statement by the bank on Sunday in Lagos, the bank said the policy was meant to continue to explore ways to improve the work environment and to demonstrate...

Court orders AMCON to takes-over Afrijet Airlines assets over N10bn debt

Hon. Justice Chuka Austine Obiozor of The Federal High Court Lagos Division has granted an interim injunction against Afrijet Airlines Limited, owned by Chief Vitalis Ibe on the application of Asset Management Corporation of Nigeria (AMCON). The obligor owes AMCON nearly...

Jumia Becomes the One Stop Online Destination in Africa

People can now find on Jumia all their needs Africa Internet Group is today connecting its companies into Jumia’s (www.JUMIA.com.ng) ecosystem with a new vision, “Expand your horizons”. The new Jumia ecosystem will give access to products and services...

BoseSunday OdionColumnist DaveColmnista Josef12

Eastern Europe stocks, FX feel more Brexit pain

A fund manager looks at screens displaying activities of shares on the French Stock Exchange, in a financial analysis office in Paris, France, Tuesday, Aug. 25, 2015. Chinese stocks fell Tuesday for a fourth day, hitting an eight-month low amid signs Beijing was no longer buying shares to stem a price slide, and Japanese stocks also dropped. But other Asian and European markets bounced back from a day of heavy losses.(AP Photo/Francois Mori)

Central European markets extended losses on Monday as Britain's vote to leave the European Union dented global sentiment, with some regional bourses falling as much as 2 percent. MSCI's eastern European...

by Staff Reporter

Brexit fallout crushes financial stocks

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S. June 27, 2016. REUTERS/Brendan McDermid

U.S. bank stocks led a steep decline on Wall Street on Monday as aftershocks from Britain’s vote to leave the European Union roiled global markets for a second day. The S&P financial index .SPSY was down nearly 3 percent by late morning, with investors increasingly worrying about London’s future as the region’s finance capital. JPMorgan...

Sterling, stocks take another Brexit hit; oil, yen rise

Sterling fell more than 2 percent, the euro took a hammering and stocks dropped again on Monday as Britain’s vote to leave the European Union drove investors to seek safety in the yen, gold and low-risk government debt. Oil prices...

Nigeria naira firmed as central bank sells dollars

Nigeria’s naira held steady at the close of trading on Friday as the central bank intervened for a fifth straight day with dollar sales to ease liquidity after it floated the currency earlier this week, traders said. The naira ended...

U.S Stocks Plummet after shock Brexit vote

U.S. stocks fell sharply on Friday, with the Dow Jones industrial average dropping as much as 538 points, as Britain’s vote to quit the European Union roiled global financial markets. The S&P 500 index and the Dow posted their...

FreeCurrencyRates.com

Buhari’s government has been hijacked − Saraki

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Senate President Bukola Saraki has alleged that there is a government within President Muhammadu Buhari’s government using their executive powers to persecute the leadership of the Senate. Saraki made...

Senate forgery trial: Saraki, Ekweremadu in court with 35 lawmakers

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Senate President Bukola Saraki and Ike Ekweremadu, deputy senate president, have arrived at the federal capital territory (FCT) high court, Abuja where their trial for alleged forgery commences. They arrived...

Salary crisis: Declare state of emergency – NLC tells FG

Labour leader and General Secretary, Textile Workers Union, Comrade Issa Aremu, at the weekend asked the Federal Government to immediately declare a state of emergency over the current salary crisis rocking...

Fayose: Ekiti APC asks EFCC to beam searchlights on other banks

The All Progressives Congress (APC) in Ekiti State has assured Governor Ayodele Fayose that it will soon react to the fraud charge by the Economic and Financial Crime Commission (EFCC) on how arms cash...

Nigeria oil output rises to 1.9 million bpd due to pipeline repairs

Okrika, NIGERIA: Masked Ateke Tom militants hold their guns as they arrive at their camp, 13 April 2007, in Okrika, Rivers State. Ateke Tom is the leader of the Niger Delta Vigilante, an ethnic Ijaw militia in the Niger Delta region of Nigeria. Many militant groups in the delta say they are fighting for the control of government oil wells. Five people, including a senior police officer, were killed in clashes between rival cult gangs in southern Nigeria's oil-rich state of Rivers, the police said today.    AFP PHOTO / LIONEL HEALING (Photo credit should read LIONEL HEALING/AFP/Getty Images)

Oil production in Nigeria has risen to about 1.9 million barrels per day (bpd), from 1.6 million bpd, due to repairs and more than a week having passed since a major pipeline attack in the Niger Delta,...

Nigeria Eyes $40-$50 Billion Oil Investment as Output Rises

Emmanuel-Ibe-Kachikwu

Country’s crude production as high as 1.9m b/d two days ago Output should rise to 2.2m b/d in July if pipe repairs finish Nigeria is seeking $40 billion to $50 billion in investment in oil...

Oil Seen Hitting $60 This Year on Demand

Crescent Petroleum Co., an oil and natural gas producer in Egypt and Iraq, expects crude prices to improve this year as supply becomes more in line with demand. The U.K.’s decision to leave the European...

Oil prices plunge as Britain votes to leave EU

* Crude prices slump as much as 6 pct on market contagion * PM Cameron to quit as UK rewrites engagement rules with EU * Dollar up most in a day since 2008, sterling 31-year low (New throughout, updating...