As the prices of crude continue to fall in the global market, Minister of State for Petroleum Resources, Mr. Ibe Kachikwu, has said he would meet his Qatari and Saudi counterparts to discuss way forward.

NIGERIA’s 2016 budget may not be fully implemented as expected going by the predicted downward trend in oil price, unless government makes a quick readjustment.

The Naira yesterday suffered its biggest daily depreciation against the dollar as the exchange rate rose to N345 per dollar in the parallel market.

The Central Bank of Nigeria (CBN) and economic operators have disagreed on the exchange rate that governs business decisions and economic activities in the country. This disagreement was the highlight of the first TheCable Coloquium titled, “The Naira on Trial: To devalue or not”. While participants and panelists at the event unanimously agreed that economic activities are being priced at the parallel market exchange rate, which is N325 per dollar, the CBN disagreed, saying that it is the interbank exchange rate, which is currently N198 per dollar.

The Group Managing Director of Letshego Microfinance Bank, Mr. Chris Low, has assured that there would be no job losses. He said this in an interview following the official announcement of Letshego’s acquisition of FBN Microfinance Bank (FBN MfB) in Lagos, just as he hinted that the company would be investing in building skills and capability among its management team.

German investors in the country have sought guarantees from the Central Bank of Nigeria (CBN) on availability of foreign exchange to repatriate profits out country. This was one of the highlights of a meeting between CBN Governor, Mr. Godwin Emefiele and a German Business led by Vice Minister and Member of Parliament, Mr Uwe Beckmeyer of German Federal Ministry for Economic Affairs and Energy in Abuja last week.

For the first time in the history of any capital market in Africa, Nigeria is set to commence 24 hours trading settlement circle, even as investors in the Nigerian Capital market are now to get dividend payment within 24 hours through the e-Dividend Payment Platform. Director General of Securities and Exchange Commission (SEC) Mounir Gwarzo made this disclosure at the e-Dividend Sensitisation Town Hall Meeting in Lagos.

Stutern, Nigeria’s internship marketplace has entered into a strategic partnership with Jobberman to tackle the menace of unemployment in the country through internship placement. Through this partnership, Stutern has become the exclusive partner of Jobberman for internship placements in the country.

Consumer Advocacy Foundation of Nigeria (CAFON) has accused the Central Bank of Nigeria (CBN) of aiding banks to exploit bank customers. Meanwhile the group has called for a No Banking Day, on March 1st, when bank customers will shun all banking services to protest excessive bank charges. These were contained in a petition signed by the President of CAFON, Sola Salako and made available to Vanguard over the weekend.

Following the controversy over the alleged padding and errors in the 2016 Budget, some corporate economics have raised concern on the implication for national economy recovery and foreign capital inflow.