Business

CBN Moves to unify FX rates across markets

Isaac UmunnaComment(0)

The Nigerian central bank will work towards gradual unification of exchange rates across all forex windows, the bank said in a document seen by Reuters on Wednesday.

Nigeria, Africa’s largest economy, operates a multiple exchange rate regime which it has used to manage pressure on the currency and to absorb the impact of an oil price crash.

Pix: CBN Governor, Godwin Emefiele

Isaac Umunna

Related Articles
Business

Uber raises fares amid legal tangles

Isaac Umunna

Uber Technologies Inc UBER.UL said it raised its Hong Kong minimum fares on Monday by as much as 80 percent following a review. The San Francisco-based technology company, which recently suspended its services for the second time in the neighboring Chinese city of Macau, told Reuters the price rises would benefit drivers as they pocketed […]
Business

FG closes Independence Bridge for maintenance work On March 1,

Isaac Umunna

Ministry of power seeks collaboration with agencies for improved power supply Minister of Works and Housing, Babatunde Fashola The Federal Government on Sunday announced the partial closure of the Independence Bridge in Lagos for routine maintenance. The maintenance work which ends on May 2, according to the government, will ensure the repair of the damaged […]
Business

Proposed electricity tariff hike: NERC to ensure DisCos provide meters for consumers

Isaac Umunna

The Nigerian Electricity Regulatory Commission said it would ensure that distribution companies provide meters for all customers so that they will be charged only for electricity consumed. The PUNCH had reported that the Nigerian Electricity Regulatory Commission approved an increase in electricity tariff by the 11 Electricity Distribution Companies in the country. The Chairman of […]