CBN investing N500b debenture to drive export, diversification
The Central Bank of Nigeria (CBN) has said it is investing N500b debenture to be issued by Nigerian Export-Import Bank (NEXIM) in line with section 31 of CBN Act to deepen export sector in other to facilitate diversification as a…
This is time for Multinationals to pay their taxes in Nigeria—Minister
Experiences of G-24 Finance Ministers and Central Bank Governors meeting on the sideline of the ongoing IMF/World Bank meeting have shown that several multinationals always find a way to evade taxes. The discovery has therefore forced finance ministers to start…
Confusion as Customs refutes delisting Rice from import prohibition list
Contrary to earlier news making the rounds that the authorities of the Nigerian Customs Service (NCS) has removed Rice imports from land borders from the import prohibition list, the agency this evening, Saturday October 8, 2016 refuted the news, saying…
Rice price crashes as Customs delists from import prohibition list
Respite is coming the way of Nigerians who had been decrying the galloping price of rice in the market as the Comptroller-General of Customs, Col. Hameed Ali (rtd), has ordered the immediate removal of rice from import restriction list. Accordingly,…
FirstBank, NESG seal deal on 22nd economic summit
First Bank of Nigeria Limited and FBN Merchant Bank Limited have partnered the Nigerian Economic Summit Group to host the 22nd Nigerian Economic Summit (NES#22) with the theme: ‘Made in Nigeria.’ The summit which is scheduled to hold at the…
Ecobank, Global Fund renew partnership deal to fight HIV
In keeping with its corporate social responsibility, Ecobank Transnational Incorporated has renewed its partnership with the Global Fund to Fight AIDS, Tuberculosis and Malaria for another three years running. Ecobank in a statement on Friday explained that the relationship between…
Speculations, IMTAs may push up Naira next week
Stabilization of the naira on the parallel market next week may be a reality considering the beginning of international money transfer agencies (IMTAs) to sell dollars to Bureau De Change operators. The new deal is in line with the Central…
5 largest banks record drop in market share—CBN Report
Details from the Central Bank of Nigeria’s (CBN) Financial Stability Report (FSR) has revealed that in terms of size of assets and deposit of banks, the market share of the five largest banks in the country, declined to 43.30 per…
CBN releases guidelines for Liquid Asset Status to Sukuk
The Central Bank of Nigeria (CBN) yesterday unveiled the guidelines for granting liquid asset status to Sukuk Instruments issued by state governments. The development according to the apex bank is in view of the need to foster financial system and…
NASS moves to tame banks over N65 ATM charge
Worried by complains, the House of Representatives yesterday resolved to investigate the N65 being charged customers by commercial banks for Automated Transaction Machine (ATMs). Accordingly, it has directed its Committee on Banking and Currency to investigate the charge and other…
