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CBN governor: Improved diaspora remittances will boost economy

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, said the ongoing reforms to increase diaspora remittances into the country will support the economy and help reduce the impact of the COVID-19 pandemic.
FILE PHOTO - A Goldman Sachs sign is seen above the floor of the New York Stock Exchange shortly after the opening bell in the Manhattan borough of New York January 24, 2014. REUTERS-Lucas Jackson-File Photo

Goldman Sachs loses legal fight against EU cartel fine

U.S. investment bank Goldman Sachs on Wednesday lost its fight against an EU cartel fine handed down to its former Italian subsidiary and cable maker Prysmian after Europe’s top court said it was liable for the actions of the unit.
The Central Bank of Nigeria (CBN) has revealed that the aggregate domestic credit in commercial banks grew by 7.61 percent in October 2020, compared with 7.35 percent in the previous month.

Nigeria’s central bank extends interest reduction on intervention loans till 2022

The Central Bank of Nigeria (CBN) Tuesday resolved to leave all monetary policy parameters unchanged in a continued efforts to stimulate the economic growth.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

Nigeria’s central bank retains lending rate

On Monday, the currency exchanged for 475 at the parallel market, against the 383 central bank’s official rate. Inflation hit 15.75 per cent in December 2020, the highest in three years, according to the National Bureau of Statistics.
The Central Bank of Nigeria (CBN) has revealed that the aggregate domestic credit in commercial banks grew by 7.61 percent in October 2020, compared with 7.35 percent in the previous month.

Central bank advises against total lockdown as coronavirus infections soar

The apex bank also retained the Monetary Policy Rate (MPR) at 11.5 per cent, the Cash Reserve Ratio (CRR) at 27.5 per cent, the Liquidity Ratio (LR) at 30 per cent and the asymmetric corridor of +100/-700 basis points around the MPR.
Our education system is designed to teach kids everything that is needed for employment and related skills but it often leaves an important aspect that deals with managing our finances. Financial education is often ignored or overlooked by many.

12 Smart tips to set and achieve your financial goals

Our education system is designed to teach kids everything that is needed for employment and related skills but it often leaves an important aspect that deals with managing our finances. Financial education is often ignored or overlooked by many.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

MPC: Expert urges central bank to curb inflation rates

As Central Bank of Nigeria (CBN) opens its Monetary Policy Committee (MPC) meeting on Monday, a financial expert, Mr Okechukwu Unegbu, has advised the committee to address rising inflationary rates.
The supreme court, on Friday, dismissed a suit filed by Shell Petroleum Development Company of Nigeria (SPDC), seeking the review of a judgment ordering it to pay N17 billion to some Ogoni communities in Rivers state.

Seplat: Access Bank wants Supreme Court to reverse Appeal Court’s ruling

Access Bank Plc at the weekend said it had filed a notice of appeal at the Supreme Court to challenge the decision by the Lagos Division of Court of Appeal to upturn the suspension of the interim order made by a Federal High Court in Lagos sealing the corporate offices of Seplat Petroleum Development Company (SPDC) and freezing its accounts, in respect of loan obtained by Cardinal Drilling Services Limited.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

Nigeria’s central bank to stop exporters with unrepatriated proceeds from banking services

The Central Bank of Nigeria (CBN) has directed banks to deny exporters with unrepatriated export proceeds from accessing all banking services by January 31.
The Central Bank of Nigeria (CBN) has revealed that the aggregate domestic credit in commercial banks grew by 7.61 percent in October 2020, compared with 7.35 percent in the previous month.

Nigeria’s central bank vow sanctions against IMTOs still paying remittances in naira

The bank had in December 2020 directed that IMTOs and commercial banks in the country pay beneficiaries of diaspora remittances in foreign currencies, in a bid to deepen the foreign exchange market and create transparency in the administration of diaspora remittances into Nigeria.
Nigeria Naira

Naira rises against dollar at official market

Naira strengthened against the U.S. dollar on Thursday at the Investors & Exporters (I&E) window of the foreign exchange market, data from the FMDQ Security Exchange where currencies are officially traded showed.
FILE PHOTO - A logo of the electronic payment service Alipay that belongs to Ant Group Co Ltd is seen at a vending machine in Beijing, China December 30, 2020. REUTERS-Thomas Peter

China proposes tougher anti-trust rules for non-bank payment industry

China’s central bank proposed stepping up anti-trust measures to rein in payment firms such as Ant Group’s Alipay and Tencent’s WeChat Pay, which dominate the non-bank payment industry.
Dr Herbert Wigwe, Managing Director of Access Bank Plc

Nigerian bank targets eight more African countries in expansion drive

Access Bank Plc has unfolded plans to expand to eight more African countries as part of a strategy to support trade and finance in the continent and take advantage of the newly formed African Continental Free Trade Area (AfCFTA).
Bank of Industry (BoI)

Bank of Industry: We are not recruiting

The Bank of Industry (BoI) has reacted to advertisements and letters on a purported recruitment exercise by the bank.
The Central Bank of Nigeria (CBN) has revealed that the aggregate domestic credit in commercial banks grew by 7.61 percent in October 2020, compared with 7.35 percent in the previous month.

CBN to review products launched by licensed financial institutions

This was announced in a circular issued to all deposit money banks, mobile money operators and payment service providers on Monday and signed by Musa Jimoh, the director of payments system management department, and Kevin Amugo, director of financial policy and regulation department.
FILE PHOTO - A picture illustration shows U.S. 100 dollar bank notes taken in Tokyo August 2, 2011. REUTERS-Yuriko Nakao-File Photo

Dollar drops as traders prepare for Janet Yellen to talk up stimulus

The dollar dropped on Tuesday as investors prepared for U.S. Treasury Secretary nominee Janet Yellen to talk up the need for major fiscal stimulus and commit to a market-determined exchange rate when she testifies later in the day.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

Coronavirus: KanInvest secures N10 billion central bank fund to revive industries in Kano

The KanInvest and Diaspora, in partnership with the Links, a UK-based company and the Manufacturers Association of Nigeria (MAN), has secured N10 billion intervention fund from Central Bank of Nigeria (CBN) in its bid to revive industries affected by the COVID-19 pandemic disease in Kano State.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

Price of maize set to crash as CBN releases 300,000 tonnes soon

The anticipated release follows moves made by the CBN, working with the Nigeria Customs Service (NCS), in the last quarter of 2020, to facilitate import waivers to four agro-processing companies to import 262,000 tonnes of maize to bridge the shortfall in production and augment local production.

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National Bureau of Statistics NBS

NBS: VAT increases by N29.98 billion in Q4 2020

The National Bureau of Statistics (NBS) says Value Added Tax (VAT) increased by N29.98 billion from N424.71 billion generated in the third quarter to N454.69 billion in the fourth quarter, 2020 (Q4 2020).
President Muhammadu Buhari on Wednesday met with the newly appointed Service Chiefs at the Presidential Villa, Abuja with a directive that they should rise up to the nation’s current security challenges.

President Buhari meets new service chiefs

President Muhammadu Buhari on Wednesday met with the newly appointed Service Chiefs at the Presidential Villa, Abuja with a directive that they should rise up to the nation’s current security challenges.
FILE PHOTO - Bill Gates, Co-Chair of Bill & Melinda Gates Foundation, gestures as he speaks during the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 25, 2018. REUTERS-Denis Balibouse

Bill Gates advises Nigerian government against paying high price for coronavirus vaccines

American Philanthropist, Bill Gates, has advised the Nigerian Government against diverting its limited health fund into trying to pay a high price for COVID-19 vaccines.
Dr Hakeem Baba-Ahmed

Northern elders: New service chiefs not enough to fix Nigeria’s insecurity

The Forum argued that the change of the Service Chiefs by President Muhammadu Buhari was not an end in itself, but a means to a better security, adding that it would, therefore, require his active involvement and interest in their conduct, records and performances for the country to win the war against insurgency and other threats.
The Institute for Peace and Conflict Resolution (IPCR) has pledged to collaborate with the Nigerian Army Resource Centre (NARC) to find practical solutions to insecurity confronting the country.

Insecurity: Nigerian Army deploys female soldiers to secure Kaduna-Abuja highway

The military authorities have on Wednesday, deployed 300 female soldiers to provide security on the dreaded Kaduna-Abuja highway.