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‘Erratic Naira’ Now Trading Between 280 And 310

The naira took a strange turn on Wednesday, trading at varying prices across different sections of the parallel market, appreciating by the highest leaps in 2016. The “official rate” of the black market is now completely unpredictable as various sellers are quoting different prices. Traders told TheCable that the uncertainty ...

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Economic Crisis: Ecobank Fires 50 Top Management staff

The management of Ecobank Nigeria Plc has relieved a minimum of 50 staff of their duties over the prevailing economic crisis in the country. A top management staff of the bank told TheCable that the development came as a shock to those affected. He explained that although the issue had been discussed in ...

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MTN Withdraws Case Against NCC, Pays $250M Fine

MTN Group, South African telecoms firm has withdrawn its legal action against Nigerian Communications Commission (NCC) over a $3.9 billion fine and paid $250 million towards a possible settlement, the company said in a statement on Wednesday. Africa’s leading telecoms firm was fined by the Nigerian Communications Commission in October ...

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Onyema Gets New Five Year Term At NSE

The Nigerian Stock Exchange (NSE) has renewed the contract of agreement of Oscar Onyema, its chief executive officer, for another five-year term. Onyema resumed office as the CEO of the NSE in April 2011 with the first term of  a five-year contract expiring on March 31, 2016. According to a ...

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First Bank Achieves 100 MILLION E-Banking Transactions Per Month

FirstBank  PLC has been officially recognized as the first financial institution in the country to achieve a transaction volume of 100 million transactions in a month by Interswitch Transnational -Africa’s leading integrated payment and transaction processing company. This milestone feat was achieved in the month of December 2015 and represents ...

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Ecobank Transnational Appoints New Managing Director For Its CESA Subsidiary

Ecobank Transnational Incorporated  (ETI), parent company of the Ecobank Group, today announced a leadership change in its subsidiary, Ecobank Ghana Limited. Mr. Samuel Ashitey Adjei, the current Managing Director of the Ghana Subsidiary, has been appointed Managing Director for the Group’s recently combined region, Central, Eastern, and Southern African (CESA) ...

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Naira Falls to N345 To 1$ In Parallel Market

The naira, yesterday, suffered its biggest daily depreciation against the  dollar  as it exchanged for N345 to a dollar in the parallel market. This represents N20 depreciation when compared with the closing exchange rate of N325 per dollar in the market on Friday. But the naira was relatively stable at the ...

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First Bank Shares The Perfect Valentine Gift

In an atmosphere of love this February,FirstBank is allowing its customers show love in an exciting and different way this season like transferring money to someone in need using FirstBank’s integrated lifestyle mobile banking app – FirstMobile. While at it, customers can also pay bills and purchase airtime Customers can ...

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Naira Falls To 325 on Dollar Shortage

The naira hit a record low of 325 to the dollar at the parallel market on Thursday as desperate importers scrambled for dollars to meet their obligations overseas. The local currency had closed at 318 against the greenback on Wednesday, after hitting 313.5 and 310 on Tuesday and Monday, respectively. ...

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Orange Launches Entrepreneur Club For Start-Ups In Africa And The Middle East

World leading telecommunication company,Orange  is launching the Entrepreneur Club, a new space  and portal for information in French and English devoted to entrepreneurs in Africa and the Middle East. The website ( is a source of information for entrepreneurs that puts them in touch with a variety of instruments from ...

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