Foreign exchange inflow into the economy fell by 11.85 per cent in $2.38 billion October, said the Central Bank of Nigeria, CBN.
Meanwhile, the Naira further depreciated on Wednesday despite decline in foreign exchange demand at the official foreign exchange auction.

An African Develop-ment Bank (AfDB) delegation led by its President, Donald Kaberuka, met with Nigerian development financial institutions (DFIs) officials on Wednesday, 24 November 2010 in Abuja to exchange views on how to boost the country’s economy through close collaboration.

First Bank of Nigeria Plc (FirstBank), has announced the appointment of four (4) new Non-Executive Directors to its Board. The directors are : Mr. Ambrose Feese Mrs. Ibukun Abiodun Awosika, Mr. Ebenezer Adewale Jolaoso, and Alhaji Lawal Kankia Ibrahim.

United Bank for Africa has announced the commencement of banking operations in Mozambique. UBA Mozambique as it called opened its doors to the public on Monday following approval by the Central Bank of Mozambique.

THE Nigerian Export Promotion Council (NEPC) has said in Lagos that it has concluded arrangement to revive the tea industry to meet local demand.

AS part of its man-date of promoting the non-oil export from Nigeria the Nigerian Export Promotion Council (NEPC) has commenced capacity building workshop for chairmen and secretaries of State Committees on Export Promotion (SCEP).

In this interview, Mr. Gavin Fraser, a Senior global expert on blue ocean strategy (bos) who was in Nigeria recently to facilitate Trithel International Consulting Conference on Blue Ocean Strategy, says companies should stop fighting for market shares because price competition kills industries.

The value of listed equities’ represented by the market capitalisation on the Nigerian Stock Exchange (NSE) Wednesday, dropped further by N51.51 billion.