True Dominion Enterprises Ltd

Wednesday, 26 April 2017

CBN predicts an end to recession in Q3 2017

*Foreign reserve hits $31b 26 April 2017, Sweetcrude, Abuja — The Central Bank of Nigeria, CBN, Governor, Godwin Emefiele, has said the country will be completely out of recession by the second or first half of the third quarter Q3 2017. Emefiele spoke after emerging from a closed session with Senate President, Abubakar Bukola Saraki, […] More »

What investors need to know about Nigeria’s exchange window

*Naira weakens in early days of trading with light volume *So far, central bank has held off on intervening to stem slide 26 April 2017, London — There’s a lot riding on Nigeria’s new foreign-exchange platform. The system — called the Investors’ and Exporters’ FX Window — is the central bank’s latest attempt to lure […] More »

26 April 2017, Sweetcrude, Lagos — The Nigerian Maritime Administration and Safety Agency (NIMASA) and the Nigerian Navy (NN) on Wednesday signed a reviewed Memorandum of Understanding (MoU) aimed at keeping the nation’s territorial waters safer for ship navigation. The MoU came, even as industry watchers evaluated the one signed earlier, with some noting that […] More »

NIMASA read riot act to staff over extortion allegation

26 April 2017, Sweetcrude, Lagos — Director General of Nigerian Maritime Administration and Safety Agency, NIMASA, Dakuku Peterside, has threatened to deal decisively with any staff of the agency involved in any illegal activity while boarding vessels within the nation’s territorial waters. The staff of the agency usually board to carry out Port and Flag […] More »

Nigeria Customs blames poor revenue collection on recession

26 April 2017, Sweetcrude, Lagos — THE Seme Border Command of the Nigeria Customs Service, NCS, has blamed its poor revenue generation on the downturn of economic activities on the Lagos-Abidjan trade corridor. As a result of the development, the Customs Area Controller, Comptroller Mohammed Aliyu has commenced moves to redeem the revenue profile of […] More »

Oil prices rise after big draw in U.S. crude inventories

26 April 2017, New York — Oil prices rebounded from earlier losses on Wednesday after data showed a larger-than-expected falloff in U.S. crude inventories, a salve for investors after several days of declines founded on worries about the slow pace of global efforts to reduce a glut. The U.S. Energy Department said crude stocks dropped […] More »

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