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Chinese Currency

The wrong way to defend the naira

The Central Bank of Nigeria has injected over $10.97bn, into the Forex Market between January and October this year, to defend the Nation’s currency, the Naira, against other major currencies, including the dollar.” (See Punch Newspaper report of November 18th 2018 titled “CBN Defended Naira with $11bn in 10 months”).
China's Yuan

CBN Yuan auction estimated at N3.6 billion

The Central Bank of Nigeria (CBN) has estimated its first auction of the Chinese Yuan Renminbi (CNY) at N3.6 billion, an exchange rate between N49 and N51 per Yuan.

Currency swap: Naira will gain strength against dollar – economist

An economist, Dr Chijioke Ekechukwu, says the naira will gain strength against the dollar when the Nigeria-China currency swap takes effect.

Recent Stories

Shareholders condemn SEC’s suspension of Oando annual general meeting

The Pramatic Shareholders Association of Nigeria (PSAN) has condemned the Securities and Exchange Commission's (SEC) suspension of the 42rd Annual General Meeting of Oando Plc which was scheduled to take place on Tuesday, June 11, 2019.

Senator Ndume: Senate president election was free, fair

Sen. Ali Ndume (APC-Borno) on Tuesday, described the conduct of the senate president election for the 9th National Assembly as ”free and fair.”

Court remands four suspects in Ilorin prison over alleged murder

An Ilorin Magistrates’ Court on Tuesday ordered the remand of four men at the Oke-Kura Prison, Ilorin, for the alleged murder one Isiaka Sikiru.

Nigeria’s Pelfaco signs oil production sharing deal with Congo Republic

Nigerian private oil and gas company Pelfaco signed a production sharing deal with Congo Republic’s state energy firm on a 32-million barrel oil field on Tuesday, Congo’s oil ministry said.
Ahmad Lawan, majority leader of the senate, says the national assembly will not become President Muhammadu Buhari’s “rubber stamp” if he is elected senate president.

President Buhari congratulates new National Assembly presiding officers

President Muhammadu Buhari has congratulated heartily the newly elected presiding officers of the Ninth National Assembly.