Connect with us

Business & Brands

BREAKING: Naira Records Wide Gain Against Dollar

Published

on

BREAKING: Naira Records Wide Gain Against Dollar

The Nigerian naira on showed resilience against the US Dollar, experiencing a positive shift despite the country’s escalating inflation rate.

News ToGo reports that data from FMDQ revealed that the naira strengthened against the Dollar, reaching N818/$1 on Wednesday compared to the previous day’s exchange rate of N850.22/$1. This marked a notable improvement, with a gain of N31.23 in comparison to the exchange rate recorded on Tuesday.

In the parallel market, the Nigerian currency demonstrated relative stability, maintaining a trading rate of N1120 against the Dollar on Wednesday, consistent with the previous day’s rate. However, there are reports indicating a slight uptick to N1140 against the US Dollar in the parallel market.

This development occurs against the backdrop of the National Bureau of Statistics’ latest Consumer Price Index data, which revealed a surge in the inflation rate.

The October inflation rate in Nigeria reached 27.33 per cent, up from 26.72 per cent in September. This figure represents the highest inflation rate recorded in the country in the last two decades. The naira’s resilience amid these economic challenges showcases the complexities of Nigeria’s financial landscape.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business & Brands

BREAKING: CBN Speaks On Plan To Redenominate Naira Amid Massive Fall

Published

on

BREAKING: CBN Speaks On Plan To Redenominate Naira Amid Massive Fall

The Central Bank of Nigeria (CBN) has spoken on reports that it plans to redenominate Naira.

News ToGo reports that the CBN refuted claims suggesting that it intends to redenominate the country’s currency, the Naira, effective from January 2023. Isa AbdulMumin, the Director of Corporate Communications at CBN, clarified the bank’s position in a statement released on Tuesday.

The CBN’s response comes in reaction to a circulating claim indicating its plans to redenominate the nation’s legal tender. The bank dismissed this notion, emphasizing that it has no intentions to restructure or redenominate the Naira.

In the statement, AbdulMumin stated, “We wish to reiterate that the contents of the message are misleading. The authors of the message, in their mischief, modified text taken from an old policy move by a previous CBN Governor in 2007 to make it appear recent.”

He further clarified that while the bank might be considering reforms, any such initiatives would follow established procedures outlined in the CBN Act, 2007. The public was advised to disregard the speculative news report, which was deemed calculated to cause unnecessary panic.

Continue Reading

Business & Brands

BREAKING: CBN Gives New Order To Banks, Lists Things To Collect From Customers

Published

on

BREAKING: CBN Speaks On Plan To Redenominate Naira Amid Massive Fall

CBN has given new order to banks on the things to collect from customers.

News ToGo learned that the new CBN regulations mandate financial institutions to collect additional customer information including social media handles, email addresses, telephone numbers, and residential addresses.

This move aims to strengthen the identification process within the banking system. The apex bank outlined these requirements in its recently released document titled ‘Central Bank of Nigeria (Customer Due Diligence) Regulations, 2023.’ It stated that these regulations were established to enhance customer due diligence measures for financial institutions under its regulatory oversight.

The goal is to ensure compliance with the provisions of the Money Laundering (Prevention and Prohibition) Act (MLPPA), 2022, Terrorism (Prevention and Prohibition) Act (TPPA), 2022, Central Bank of Nigeria (Anti-Money Laundering, Combating the Financing of Terrorism and Countering Proliferation Financing of Weapons of Mass Destruction in Financial Institutions) Regulations, 2022 (CBN AML, CFT, and CPF Regulations), and international best practices.

Under the customer identification section, the CBN specified that financial institutions must identify their customers, whether they are permanent or occasional, natural persons or legal entities, or legal arrangements. The required information for individuals includes legal name and any other names used, permanent address, residential address, telephone number, email address, social media handle, date and place of birth, Bank Verification Number, Tax Identification Number, nationality, occupation, public position held, and name of employer.

The CBN also stated that individuals must provide an unexpired passport, national identification card, residence permit, social security records, or driver’s license as proof of identification. Additionally, financial institutions are required to gather details regarding the type of account, nature of the banking relationship, signature, and politically exposed person status. The document also outlines separate requirements for legal entities and legal arrangements. The CBN emphasized that these regulations apply to all financial institutions under its supervision.

Continue Reading

Business & Brands

Eko Maintenance Limited Recruitment 2022 (APPLY NOW)

Published

on

Eko Maintenance Limited Recruitment 2022 (APPLY NOW)

Eko Maintenance Limited Recruitment 2022 is ongoing and applicants can apply now.

News ToGo brings you useful information concerning recruitment, scholarships, and trending news to keep you updated. This means that you can always check this platform to get information on various subjects.

Apply for Eko Maintenance Recruitment 2022, Careers & Job Vacancies. Eko Maintenance Job Recruitment positions are available till the deadline. Eko Maintenance Limited is a rapidly growing Facility Management Company that specializes in the maintenance of high-rise building facilities with office located in Victoria Island, Lagos. Founded in 2011, it offers her services to the construction and real estate industries from a network established in several countries across Africa, Europe, and the Middle East. Our track record includes projects with an investment value. See the available posts below.

1.) HSE Officer

Location: Lagos

Click Here To View Details

 

2.) Legal Specialist

Location: Lagos

Click Here To View Details

 

3.) Fire Alarm Technician

Location: Lagos

Click Here To View Details

 

4.) Carpenter

Location: Lagos

Click Here To View Details

 

5.) Inventory Officer

Location: Lagos

Click Here To View Details

 

6.) Procurement Officer

Location: Lagos

Click Here To View Details

 

7.) Heating, Ventilation, & Air Conditioning (HVAC) Technician

Location: Lagos

Click Here To View Details

 

8.) Driver

Location: Lagos

Click Here To View Details

 

Application Closing Date

Not Specified.

See older jobs below:

1.) HR Legal Officer (Team Lead)

Location: Lagos

Salary: N150,000 – N200,000 Monthly.

Deadline: 20th June, 2022.

Click Here To View Details

 

2.) Legal and Human Resources Officer

Location: Lagos

Salary: N80,000 – N100,000 Monthly.

Deadline: 15th July, 2022.

Click Here To View Details

 

3.) Archivist

Location: Lagos

Salary: N80,000 – N100,000 Monthly.

Deadline: 15th July, 2022.

Click Here To View Details

 

4.) Accountant

Location: Lagos

Salary: N150,000 – N200,000 Monthly.

Deadline: 30th June, 2022.

Click Here To View Details

 

5.) Accountant (Tax)

Location: Lagos

Salary: N150,000 – N200,000 Monthly.

Deadline: 30th June, 2022.

Click Here To View Details

 

6.) IT / Software Support Officer

Location: Lagos

Salary: N150,000 – N200,000 Monthly.

Deadline: 30th June, 2022.

Click Here To View Details

 

7.) Inventory Officer

Location: Lagos

Deadline: 8th June, 2022.

Click Here To View Details

 

8.) Plumber

Location: Lagos

Salary: N70,000 – N80,000 / month.

Deadline: 20th June, 2022.

Click Here To View Details

 

9.) Legal / HR Officer

Location: Lagos

Salary: N80,000 – N100,000 / month.

Deadline: 20th June, 2022.

Click Here To View Details

 

10.) Recruitment Assistant

Location: Lagos

Deadline: 26th May, 2022.

Click Here To View Details

 

Continue Reading

Trending