With the growing macroeconomic headwinds, companies operating in the country are faced with an unattractive return for shareholders and the public at large. Undeniably, companies’ operations suffered setbacks but some companies’ effective business strategies have enhanced corporate responsibility and sustainability. KAYODE TOKEDE captures the impact of FBN Holdings sustainable interventions on stakeholders and its outlook for the future.  Since its creation 123 years ago, 1894 to be precise, FirstBank has retained its number one position as the strongest financial institution in the country and this has transited into a strong Holdings Company. The FBNHoldings emerged from the erstwhile FirstBank Group in 2012 to effectively diversify and leverage the synergy of the group’s financial services businesses, and actively provide a full range financial services to customers, FBN Holdings’ success story can be attributed to the corporate responsibility and sustainability which are deeply rooted across the communities where it does business. The financial...

Forex: Naira Loses Against Dollar

The naira on Thursday continued to fall against the dollar at the parallel market, the News Agency of Nigeria (NAN) reports. The Nigerian currency lost one point to exchange at N368, weaker than N367 posted on Wednesday, while the Pound Sterling and the Euro closed at N478 and N432. At the Bureau De Change (BDC) window, the naira was sold at N363 to the dollar, while the Pound Sterling and the Euro closed at N478 and N432. However, the naira appreciated at the investors’ window, exchanging at N361.17 stronger than N362.39. Traders at the market told NAN that in spite of the weekly auction of foreign exchange by the Central Bank of Nigeria (CBN) to BDC, the naira continued to depreciate. (NAN)