AGF’s response to latest whistleblower discouraging—Nigerians
The way and manner of response to the request put forward by a whistleblower to the Office of the Attorney-General of the Federation and Minister of Justice on his share after revealing and bursting a $1bn hidden in an account…
NIPOST outlets to offer banking services, Int’l passport issuance from May this year—Minister
Though efforts to get official confirmation from the Central Bank of Nigeria (CBN) on Thursday proved abortive, the Minister of Communications, Adebayo Shittu has claimed that all is set for all the 1,500 Nigeria Postal Service outlets across the country…
GTB, Zenith Bank, others await second tranche of Etisalat’s negotiated loan payment
Indications have emerged, showing that the dusts raised by $1.2 billion, about N30bn loan jointly pulled by a consortium of banks in 2013 for Etisalat are yet to settle. Earlier last month, banks involved in the deal opened up to…
Momentary weakening of Naira shows it cannot be stable by only CBN’s intervention–Expert
Ever since the Central Bank of Nigeria (CBN) started its almost daily intervention in forex liquidity, many pundits have continued to argue that the practice remained cosmetic and may not do the magic of forex stability. The naira weakened to…
Zenith Bank Plc is stronger than them all, rock solid— Fitch Report
Whereas three banks (names with held) were said to vulnerable by the latest result of the stress test conducted by the Central Bank of Nigeria (CBN), the report however, singled out Zenith bank and declared it rock solid even in…
CBN’s new special forex window for SMEs’ll drive cut forex settlement period
Analysts have hailed the tactics used by the Central Bank of Nigeria (CBN) to open a special foreign exchange window for the Small and Medium Enterprises (SMEs), saying it would help in growing the sector faster. Before now, many SMEs…
CBN begins tightening of liquidity with seven to 30-day maturity Forwards sale
Indications have emerged that the combination of foreign exchange (forex) and Treasury Bills (T-Bills) auctions by the Central Bank of Nigeria (CBN) last week, calmed the quantity of money in circulation making investors to scout for naira to pay for…
CBN deepens forex rates convergence drive, crashes BDC rate to N360 to sell at N362 only
All most 24 hours after the Central Bank of Nigeria (CBN) directed Deposit Money Banks (DMBs) in the country to sell foreign exchange obtained from it to retail end-users at not more than N360/$1 for invisibles, the apex bank on…
Banks abusing CBN’s forex guidelines in trouble as apex bank plans examination visit
Out of fears and suspicion of infractions by some commercial banks in the disbursement of forex allocations, the Central Bank of Nigeria (CBN) will this week send examiners to banks for an oversight function on the administration of all dollar…
Recession receding as Nigeria’s inflation falls to 17.78% in February – NBS
Respite on recession seems underway as latest report on the nation’s presented by the National Bureau of Statistics (NBS) on Tuesday showed that Nigeria’s inflation rate has begun reversal trend as February figure showed drop to 17.78 percent from January…
