Advertisement

Advertisement

Browsing Tag

CENTRAL BANK OF NIGERIA

EXCLUSIVE: Nigeria’s Foreign Reserve Hits $42bn

Nigeria’s external reserve has risen further to $42 billion from the previous amount of $40.4 billion in January, 2018, The WHISTLER can exclusively report. A top official of the Central Bank of Nigeria (CBN), who spoke to this medium on the condition anonymity, said the further rise was due to a steady climb in the price of crude oil in the international market. “More than $1.5 billion has been added to Nigeria’s external reserves just between January 5 to date. The Federal Government can expect to continue to witness…

Nigeria Stocks Jump To 9-Year High As Oil Price Hit $70

Nigerian stocks have jumped to a nine-year high as Africa’s biggest economy emerges from its worst recession in 25 years, buoyed by the high price of oil at $69 a barrel. The country’s main equity index grew 12 percent this year in dollar terms, pushing it to the highest level since 2008, according to Bloomberg News. Investors are buying the cheapest stocks in Africa, confident that the Nigerian economy is set to recover and oil prices will stay high. “2018 is a story of return of Africa,” Funmi Akinluyi, head of…

Kachikwu Restates, ‘No Plans To Increase Fuel Price’

Minister of State for Petroleum, Dr Ibe Kachikwu, has denied news reports that the Federal Government was planning to jack up the pump price of petrol, at present fixed at N145 per litre. Idang Alibi, the Director of Press in the ministry in a statement on Thursday night, clarified the minister’s submission made to the joint committee of the National Assembly on Petroleum Downstream. “The Ministry of Petroleum Resources would like to categorically state that the Minister never mentioned nor insinuated the need or plans…

13 Naira Note Sellers In Soup After Raid By DSS, Police In Port Harcourt

No less than 13 Naira note sellers who turned deaf ears to warnings by the Central Bank of Nigeria (CBN) have landed themselves in the soup following a sting operation jointly carried out by operatives of the Police and Department of State Services (DSS) in Port Harcourt, Rivers State. Recall that the CBN had times without number warned that Section 21 (1) of the CBN Act (2007) forbids any person from selling the Naira notes. "It shall be an offence punishable by a term of imprisonment not less than 5 years for any…