• IATA

    IATA Advocates For Release Of Foreign Airlines’ Revenues

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    The International Air Transport Association (IATA), yesterday, called on countries with tight currency exchange rate controls, including Venezuela and Nigeria, to release $5 billion worth of local ticket sales revenues owed to foreign airlines, or risk losing their services. Two airlines, Lufthansa and LATAM Airlines, said that this week they were halting flights to Venezuela,…

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  • Nigeria To Raise N105bn bonds On May 11

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    Nigeria plans to raise N105 billion in local currency denominated bonds on May 11, the Debt Management Office (DMO) said on Wednesday. The office said it will sell N50 billion of a bond maturing in 2036, 40 billion of paper maturing in 2026 and 15 billion of debt maturing in 2020, using the Dutch auction…

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  • Smarphones

    Forex: Phone Dealers Lament As Prices Rise By 30%

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    The scarcity of foreign exchange especially the dollar has started to impact on importers and traders of feature and smartphones in the country, taking its toll on the prices of new and used handsets which have now gone up by as much as 30 per cent. Between January and the first week of April, 2016,…

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  • central-bank-of-nigeria_cbn_1

    CBN To Withdraw N1trn From Circulation

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    The Central Bank of Nigeria (CBN) has disclosed it readiness to pull out up to N1 trillion from circulation in a bid to stabilise the economy. Already, N525 billion has been pulled out less than one week after the policy which seeks to tighten money supply, while additional N219 billion is slated to be pulled…

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