Finance

The Nigerian Exchange has halted trading in the shares of Guaranty Trust Bank (GTB) Plc, as the bank moves to its transition to a holding company.

PayPal said Friday it is raising fees for some of its newer products “to better align our pricing with the value that our products and services provide,” according to a blog post by senior...

Nigeria's Central Bank is preparing a digital currency pilot that could launch as early as the end of this year, its director of information technology said in a recording heard by Reuters on Friday.

“Significant spreads between the official, the IEFX, and the parallel exchange rate persisted throughout 2020 and as of April 2021, the spread between the official and the IEFX rate was estimated at 8% and between the IEFX and the parallel rate, reached 18% (the spread between the official and the parallel rate was 27%),” the World Bank added.

The naira, on Thursday, appreciated by 1.8 percent to N493 to a dollar at the parallel market as the Central Bank of Nigeria (CBN) increased forex supplies to banks.

The International Monetary Fund (IMF) has advised the federal government to keep reliance on overdrafts from the Central Bank of Nigeria (CBN) within legal limits.

The Securities and Exchange Commission (SEC) has announced plans to launch a regulatory incubation (RI) programme for fintechs operating or seeking to operate in the Nigerian capital market.

Naira for the second day in a row fell against the U.S. dollar at the official market Wednesday, but managed a rebound at the parallel market, a day after hitting its lowest black-market rate in at least four years.

Zenith Bank Plc has been named as the Best Corporate Governance ‘Financial Services’ Africa 2021 by the Ethical Boardroom for the second consecutive year.

Naira fell significantly against the U.S. dollar at the unofficial market on Tuesday, after Nigeria’s foreign reserves plunged to its lowest level in four years last week.

The National Insurance Commission (NAICOM) has partnered the Federal Roads Safety Corps (FRSC) on enforcement of compulsory motor insurance in the country.

The international Monetary Fund (IMF) has stressed the need to address currency risk, exit risk as well as project risks which hinders foreign investments into Sub Saharan Africa.

The Consumer Price Index (CPI) which measures inflation dropped to 17.93 per cent (year-on-year) in May compared to 18.12 per cent in the preceding month, according to the National Bureau of Statistics (NBS).

Nigerian National Petroleum Corporation (NNPC) through its subsidiary Duke Oil has sealed a pact to supply 30,000 barrels per day crude oil supply to Indonesia’s state oil corp, Pertamina, and Indian Oil Corporation.

The CBN Governor, Godwin Emefiele, agreed to the currency minting proposal from the Governor of the Central Bank of The Gambia, Buah Saidy, who led a delegation to visit him on Tuesday.

The Supreme Court of Nigeria has ruled that Investors in Nospetco Oil & Gas Ltd (Wonder Bank) whose N22.45 billion funds are being trapped in the Central Bank of Nigeria, for over 14 years, can go to the appropriate court for recovery of their money.

The African Development Bank said on Monday it is returning to the Australian capital market with the launch of a 5.5-year $464 million Kangaroo social bond.

The report had claimed that the apex bank’s target examination of Unity Bank showed that the tier 2 lender is in ”grave financial condition”, with a capital adequacy ratio (CAR) and non-performing loans (NPL) ratio that breached prudential standards.

The House of Representatives has mandated its committee on banking and currency to investigate disbursements of all agricultural loans and credit facilities to farmers.

The House of Representatives has asked the Central Bank of Nigeria (CBN) to halt the downward spiral in the value of the naira against the dollar.

Lawmakers in the Central American nation’s Congress passed a bill late Tuesday that will eventually allow the famously volatile digital currency to be used for many aspects of daily life, from property purchases to tax contributions.

The Development Bank of Nigeria (DBN) has reaffirmed its commitment to environmental sustainability, pledging to entrench positive practices in its operations and among its stakeholders.