Naira rises, now N1,405/$ in parallel market
The Naira yesterday appreciated to N1,405 per dollar from N1,410 in the parallel market on Wednesday. Likewise, the naira appreciated to N1,322.5 per dollar in the Nigerian Foreign Exchange Market, NFEM.
Obat Oil denies diversion of N1.2bn oil subsidy
THE management of Obat Oil and Petroleum Limited has denied reports of its alleged diversion of N1.2billion oil subsidy, saying the publication is not only malicious but orchestrated to disturb its business.
N5.2trn Pension fund: Fashola advocates investment in real sector
Federal government efforts at containing the massive corruption embedded in pension fund in time past may have achieve results but not enough to allow the N5.2trillion lay fallow, says the Minister of Power, Works and Housing, Mr. Babatunde Raji Fashola The Minister at the Nigerian Pension Industry Strategy Implementation Road Map Retreat organised by the National Pension Commission (PenCom) retreat held in Abuja penultimate Friday, advocated proper use of pension fund to build the required infrastructures for a rapid development for the country.
FG to train 370, 000 artisans in 2016
The Federal Government plans to train 370,000 artisans this year to boost skills development and employment generation. Mr Afolabi Imoukhuede, Senior Special Assistant to the Vice President on Job Creation and Youth Employment, disclosed this last week, at the flag-off of the Construction Skills Training and Empowerment Programme (C-STEmp), in Abuja. “The Federal Government has plans to train 370,000 artisans this year…It has already been decided. We have had a fruitful discussion on it with the Vice President and relevant ministers and we are looking forward to working with the C-STEmp to achieve the goal,” Imoukhuede stated.
NSE pledges to dialogue with FG to list public enterprises
The Nigerian Stock Exchange, NSE has said that there will be no relenting on efforts this year to dialogue with the Federal Government to bring public enterprises on the stock exchange so that Nigerians could benefit from it. Chief Executive Officer of the NSE, Mr. Oscar Onyema, while reacting to questions from the media during its briefing on the performance of the market in 2015 and outlook for the year said “the NSE will continue to dialogue with the FGN to ensure that state-owned enterprises are listed in the capital market to unlock the government potentials.”
N331bn inflow from matured Treasury Bills rescues interbank market
The interbank money market experienced huge outflows of cash last week leading to scarcity of funds which was halted by N331 billion inflows from payment of matured treasury bills. Vanguard investigations revealed that the amount of idle cash in the market fell from N633 billion on Monday to zero at the end of business on Tuesday as banks diverted the idle cash to participate in foreign exchange sales by the Central bank of Nigeria (CBN).
