Respite Seen for Naira as CBN Intensifies Settlement of FX Backlogs
“Realistically, the naira should be trading between N700 and N800/$ if not for the activities of those that are pushing the speculative attack on the naira,” said a bank CEO.
“Realistically, the naira should be trading between N700 and N800/$ if not for the activities of those that are pushing the speculative attack on the naira,” said a bank CEO.
“We don’t want to start our refinery with foreign goods, we want to start with the Nigerian crude,” the billionaire said.
The shutdown may impact the federal government’s planned $7bn dividend securitisation.
“We know you’re ready for business, so we don’t want to come to Nigeria for any exploratory discussion. We are coming for implementation,” said Saudi Trade minister.
“They also highlighted agriculture and renewable energy as major areas of investment interest for Saudi Arabia in Nigeria,” said Information minister Idris.
The bank’s management visited Nigeria’s VP Shettima, a former banker himself.
He said the country is now ready for real business and also sought collaboration towards combating terrorist activities.
It revealed that only about 120,000bpd of Nigeria’s crude made its way to India this year from the 250,000bpd before the war.
“If you want me to put some numbers to it, it could be a billion dollars in local currency or a trillion naira.”
The cooperation between Nigeria and China has enhanced transportation infrastructure in the West African country.
“Awareness of the Islamic calendar, offering alcohol-free options, and demonstrating cultural sensitivity are also essential when planning campaigns targeting visitors…”
The apex bank further insisted that there were sufficient banknotes across the country for all normal economic activities.
It however depreciated to N869 on the official window.
This comes as the US gave reasons for rejection of Nigerian products and offered help.
The NPA disclosed a 25-year port masterplan to this effect.
World Bank statistics in 2022 showed diaspora remittances to Nigeria standing at over $22billion dollars.
A new committee has been set up to address the use of technology to ID Nigerian citizens including underage children.
The official window on Monday reported a daily volume turnover of $87.65 million representing an 11.31% decline compared to Friday.
It said 619.7 million barrels of crude, valued at $46.16bn or N16.25trn was heisted between 2009 and 2020.
: Seplat Energy General Manager, Makinde, said the main problem of Nigerian oil and gas industry was not lack of policy but implementation.
© 2023 Arise News - Part of the Arise Media Group.