Category Archives: Business

South Africa Airways goes into bankruptcy, receives 4 billion rand rescue

South Africa Airways last made a profit back in 2011 and has ever since 1994 been racking up unsustainable levels of debt topping 57 billion rand ($3.9billion). It used to be recognized as Africa’s leading airline by World Travel Awards every year from 1994 to 2015 when Ethiopian Airlines began dominating the awards. The airline… Read More »

November 2019 Exchange Rate

Nigerian (Naira) Currency Exchange Rate For | Dollar | Pounds | Euro & Other. DATE Countries & Currency Qnty  Curr. Flags BUY SELL 29.11.2019 United States Dollar $1 USD ₦358  ₦360 29.11.2019 UK Pounds Sterling £1 GBP ₦462 ₦467 29.11.2019 European Euro €1 EUR ₦390 ₦395 29.11.2019 Canadian Dollar  $1 CDA ₦279 ₦285 29.11.2019 Australian… Read More »

Obasanjo Speaks On Border Closure, Says Benin Will Always Have Problem.

Obasanjo Speaks On Border Closure, Says Benin Will Always Have Problem With Nigeria If It Allows Dumping Of Goods Former President, Chief Olusegun Obasanjo, has urged Nigeria’s west coast neighbour, Benin Republic, to change its ways for a harmonious bilateral relationship between the two countries. Obasanjo made the remark during a news briefing on Tuesday… Read More »

South African Rand Flat Amid Fears Of Gloomy Economy

South African rand traded flat on Wednesday, hovering near a four-session peak, as cautious investors awaited clues on the economy ahead of key manufacturing data. “The statistics agency will publish manufacturing data on Thursday, the first set of key indicators since last week’s dismal budget speech where the finance minister slashed the 2019 economic growth… Read More »

Nigeria Considers Selling Naira-Denominated Bonds Next Year

Nigeria is considering selling naira-denominated bonds abroad next year to fund infrastructure projects, Finance Minister Zainab Ahmed said. Africa’s biggest oil producer faces a significant increase in financing needs as it struggles to boost revenue required to fund increased spending on infrastructure. Almost 60% of Nigerians don’t pay tax and the state only collected 58%… Read More »

October 2019 Exchange Rate

Nigerian (Naira) Currency Exchange Rate For | Dollar | Pounds | Euro & Other. DATE Countries & Currency Qnty  Curr. Flags NGN Rate 31.10.2019 United States Dollar $1 USD ₦360 31.10.2019 UK Pounds Sterling £1 GBP ₦463 31.10.2019 European Euro €1 EUR ₦400 31.10.2019 Canadian Dollar  $1 CDA ₦285 31.10.2019 Australian  Dollar 1A$  AUD ₦243… Read More »

We Didn’t Ask MTN To Charge For USSD – Banks

Commercial banks on Monday denied instructing MTN to deduct charges for USSD. In an advertorial, the lenders, acting under the aegis of Body of Bank CEOs said its attention had been drawn to a text message sent by the telco concerning the issue. “Our attention has been drawn to SMS sent on Saturday 19th October… Read More »

Nigeria Needs Unified Exchange Rate

Nigeria Operates A Multiple Exchange Rate Regime, Which The Central Bank Of Nigeria (Cbn) Has Defended. But The International Monetary Fund (Imf) Has Faulted The Multiple Exchange Rate Regime And Asked The Country To Unify Its Exchange Rate. “The Imf Says A Unified Exchange Rate Will Impact The Country’s Economy More Positively Than The Multiple… Read More »