Nigerian BuisnessNews

29 ships to arrive Lagos

Twenty-nine ships are to arrive in Lagos ports with foods, petroleum products and other goods from January 20 to February 7. The Nigerian Ports Authority (NPA) disclosed this in its daily publication, the ‘Shipping Position,’ made available to the News Agency of Nigeria (NAN) in Lagos on Tuesday.

The document stated 14 of the expected ships would arrive in the ports with containers, while eight others would sail in with food items. It reported that three ships were expected to sail in with petroleum products like kerosene and petrol, while four other ships would come in with general cargo.

CBN rules out further devaluation of naira

The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday ruled out further devaluation of the naira and warned against speculative trading in the currency, vowing that it would do everything within its power to protect it from further depreciation. The Governor of the CBN, Mr. Godwin Emefiele, stated this while addressing journalists shortly after the two-day MPC meeting held at the central bank’s headquarters in Abuja ended. Emefiele said while the CBN would continue to provide foreign exchange for Nigerians engaged in legitimate business, it would not allow the nation’s currency to come under speculative attacks.

The governor, however, admitted that significant pressure persisted in the foreign exchange market during 2014, resulting in further weakening of the naira across the three segments of the markets. For instance, he said the exchange rate at the Retail Dutch Auction System-Spot opened at N157.34 to the dollar (including one per cent commission) and closed at N164.08, representing a depreciation of N12.34 or 4.28 per cent.

Nigerian BuisnessNews

29 ships to arrive Lagos

Twenty-nine ships are to arrive in Lagos ports with foods, petroleum products and other goods from January 20 to February 7. The Nigerian Ports Authority (NPA) disclosed this in its daily publication, the ‘Shipping Position,’ made available to the News Agency of Nigeria (NAN) in Lagos on Tuesday.

The document stated 14 of the expected ships would arrive in the ports with containers, while eight others would sail in with food items. It reported that three ships were expected to sail in with petroleum products like kerosene and petrol, while four other ships would come in with general cargo.

CBN rules out further devaluation of naira

The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday ruled out further devaluation of the naira and warned against speculative trading in the currency, vowing that it would do everything within its power to protect it from further depreciation. The Governor of the CBN, Mr. Godwin Emefiele, stated this while addressing journalists shortly after the two-day MPC meeting held at the central bank’s headquarters in Abuja ended. Emefiele said while the CBN would continue to provide foreign exchange for Nigerians engaged in legitimate business, it would not allow the nation’s currency to come under speculative attacks.

The governor, however, admitted that significant pressure persisted in the foreign exchange market during 2014, resulting in further weakening of the naira across the three segments of the markets. For instance, he said the exchange rate at the Retail Dutch Auction System-Spot opened at N157.34 to the dollar (including one per cent commission) and closed at N164.08, representing a depreciation of N12.34 or 4.28 per cent.

Mian has signed an agreement spanning over 20 years, renewable, for supervision and operating a new Hotel named ‘Hyatt Lagos’ at the private ceremony on 11th November 2014 at Grand Hyatt Dubai.

About Hyatt, Hyatt Hotels Corporation is an American international company and operator of hotels. The Hyatt Corporation came into being upon purchase of the Hyatt House, at Los Angeles International Airport on September 27, 1957. In 2014 Fortune magazine listed Hyatt as the 95th-best US company to work for.

Hyatt is a brand name very well-known worldwide, but very selective with whom they like to do the business and in which country they wish to be. It is our great delight that we persuaded them to come to Nigeria and this is going to be their first in Nigeria and also first with Milan.

M-online is your one-stop automobile online store.

Another first from the Milan Group