CBN Warns Banks, Others Not To Use Its Discount Windows To Fund Forex
The Central Bank of Nigeria (CBN) has issued a warning to commercial banks and authorised dealers not to use its discount windows to fund foreign exchange, Treasury Bills, and Open Market Operations auctions. Angela Sere-Ejembi, CBN Director, Financial Market Department, notified authorised dealers of this in a circular. The circular on access to the CBN […]
Air Peace Resumes Johannesburg Route Operation Oct 9
Air Peace airline announced the resumption of its Johannesburg route on Saturday, after suspending it owing to the increase in Jet A1 and a lack of foreign exchange. The airline stated in a press release made available to LEADERSHIP that flight operations will resume on October 9. Passengers can book their flights to South Africa […]
Kim Kardashian Charged By SEC, Agrees To Pay $1.26 Million Fine
Kim Kardashian agreed to pay a $1.26 million fine to the Securities and Exchange Commission to settle civil charges after the reality TV star touted a crypto asset, EthereumMax, on Instagram. The SEC charged Kardashian with failure to disclose that she was paid $250,000 to publish her Instagram post. In addition to paying the fine, she agreed […]
Stocks End September Down 9.3%, Worst Month Since March 2020
Wall Street closed out a miserable September on Friday with the S&P 500’s worst monthly skid since March 2020, when the coronavirus pandemic crashed global markets. The benchmark index ended the month with a 9.3% loss and posted its third straight losing quarter. It’s now at its lowest level since November 2020 and is down […]
King Charles: New Coins Featuring Monarch’s Portrait Unveiled
New coins featuring the portrait of King Charles have been revealed, with a 50p carrying his image entering general circulation within weeks. BBC News was given a first glimpse of the 50p and a commemorative £5 Crown which include an image of the King by British sculptor Martin Jennings. The coins follow centuries of tradition […]
Bank Of England Steps In To Calm Markets
The Bank of England has said it will step in to calm markets after the government’s tax-cutting plans sparked a fall in the pound and caused borrowing costs to surge. It warned that if the market volatility continued there would be a “material risk to UK financial stability”. The Bank will start buying government bonds […]
US Markets Sink On Unexpectedly High Inflation
Inflation in the US remained unexpectedly high last month, news that drove Wall Street to its worst day in more than two years. Prices rose 8.3% in the 12 months through August, the Labor Department said, faster than the 8.1% that economists had expected. That was down from 8.5% in July, driven by lower petrol […]
Dangote Group Arrest Driver Over Illegal Hauling Of Timber
Dangote Group on sunday said that one of its drivers had been arrested for hauling timber illegally. Anthony Chiejina, the firm’s group chief branding and communications officer, said in a statement that the driver and the truck were arrested in the North Central zone and turned over to policemen. The statement added, “The driver was […]
Gas Prices Soar 26% After Russia Keeps Key Pipeline Closed
Gas prices have soared on concerns over energy supplies after Russia announced it would not reopen its main gas pipeline to Europe. The Dutch month ahead wholesale gas price, a benchmark for Europe, was up as much as 30% in early trading on Monday. The Nord Stream 1 pipeline had been due to reopen on […]
NNPC Agrees To Forensic Audit, Insist That Daily Fuel Supply Remained At 68 Million
Insisting that the daily fuel supply remained at 68 million, the Nigerian National Petroleum Company, NNPC Limited, has offered to submit itself for a forensic audit of fuel supply and subsidy management. Between January and August 2022, “the total volume of Premium Motor Spirit, PMS, imported into the country was 16.46 billion litres, which translates […]
