Nigerian banks can now trade forex at any rate ― CBN

Nigerian banks can now trade forex at any rate ― CBN

The Central Bank of Nigeria, CBN has given Nigerian commercial banks the go-ahead to freely trade foreign exchange at any rate. The announcement comes after Godwin Emefiele’s suspension as CBN’s governor. Nigerian banks can now trade forex at any rate ― CBNNiara note and dollar exchange It is believed that banks can now sell forex at market-determined rates, suggesting Nigeria is now operating a freely floating exchange rate. This is in line with the promise of President Bola Tinubu to unify the multiple exchange rate in the market. However, official confirmation will have to come later in the day when data from the FMDQ is available. Sources also report trades are now going for as high as N750/$1. Meanwhile, in the black market, the exchange rate traded for as high as N773/$1 for “inflows” which represent dollars or other currencies sold over the wires. GistReel reports that President Bola Tinubu last Friday, June 9 took Nigerians by surprise when he ordered the immediate suspension of the Central Bank of Nigeria Governor, Godwin Emefiele, from office. Explaining the reason behind Emefiele’s suspension, the Director of Information, Office of the Secretary to the Government of the Federation, Willie Bassey disclosed that the suspension of the CBN governor was based on an ongoing investigation as well as planned reforms in Nigeria’s financial sector. Nigerian banks can now trade forex at any rate ― CBNThe suspended CBN Gov, Godwin Emefiele Emefiele was directed to immediately hand over the affairs of his office to the Deputy Governor (Operations Directorate), Mr Folashodun Adebisi Shonubi, who will act as the Central Bank Governor pending the conclusion of the investigation and the reforms. The suspended CBN governor assumed office in 2014 after succeeding Lamido Sanusi, who was equally suspended from office under controversial circumstances by President Goodluck Jonathan few months before the expiration of his tenure.

Globacom appreciates trade partners with over N750m cash rewards

Globacom appreciates trade partners with over N750m cash rewards

Lagos: 09/04/2022: On Friday, April 8, 2022, total telecommunications and digital services provider, Globacom, took time out to celebrate its top business partners at the exquisite 2022 Dealers Appreciation Gala Dinner hosted at the Eko Hotels and Suites. At the event, the company announced over N750m worth of unprecedented rewards for the dealers in appreciation of their past support.
(L-R): Brand Specialist, Globacom, Monisola Olofintuyi, Managing Director, Anselem Communication, Mr. Anselem Agwu, Managing Director, Latcom Global Resources Limited, Mr. Shehu Shola Lateef, Regional Manager, Globacom, Kaduna, Mr. Fatai Kilani, Managing Director, Good God Global Services, Mr. Michael Chukwu and CEO, Lekzritz Telcomms, Mr. Alex Uche Okoh during Globacom’s 2022 Dealer Appreciation Gala held in Lagos on Friday.
In his address, the Chairman of Globacom Dr. Mike Adenuga Jr who was represented by Retail & Consumer Sales Chief, Globacom, Mr. Ken Ogujiofor, explained that the event is a continuation of Glo’s tradition of rewarding and upholding excellence among its treasured partners, adding that In the last quarter of 2021, Globacom announced a special incentive by Mr. Chairman to bolster the distribution business and encourage its partners to strive even higher to meet the business goals of the company.
“We are delighted to note that the reward programme was a huge success, with many of our partners achieving and surpassing the target bands set for the two categories; volume push and activations. Very shortly, we shall be presenting prizes to the winners from different parts of the country”. He further stated.
He concluded by saying that the event was organized to celebrate Glo’s business partners who have worked assiduously with the company in its quest to make Globacom the number one Telecommunications and Digital services provider in Nigeria.
In response, the visibly excited dealers were effusive in their praise of Globacom which rewarded different categories of its dealers with cash prizes in form of credit notes running into millions of naira, in addition to other incentives.

“Globacom has delighted its trade partners tonight and on behalf of my fellow dealers, we say thank you to Globacom” said Managing Director of Zeph Associates, Mr. Tochukwu Nwosu whose company carted home three top prizes among the category 1dealers.
Similarly, CEO of Alenssar Infinity Communication Chief Edward Emeano, also a winner expressed his joy in the way Globacom appreciated its business partners. According to him, “Globacom has shown its true appreciation of our efforts in marketing the company’s products and services and we are truly grateful”
Also another winner, the Managing Director of Yarab Integrated Limited, Alhaji Mobolaji Abdulrasaq said Globacom’s gesture is truly appreciated. “We will continue to work towards the progress of the company. Kudos to Glo.”
A key highlight of the evening was the electrifying performance of top musicians and comedians including juju music legend, King Sunny Ade (KSA) and his African beats. The Groove Band and the duo of Godwin Komone aka Gordons and MC Forever also thrilled the audience to breathtaking entertainment.