Finance

Foreign reserves rose by $554.7m in July – CBN

The Central Bank of Nigeria (CBN) has disclosed that foreign reserves appreciated by $554.7 million or 1.8 per cent in July, to bring the year till date growth to 19.3 per cent.

Ogun tackles fed govt on VAT remittance, computation

The Ogun State government has asked the Federal Government to accord it the deserved recognition regarding the state of Value Added Tax being generated in the state compared to other states.

Fed govt seeks out-of-court settlement with 7 banks over TSA

The Federal Government has filed a notice of discontinuance of the suit it filed against seven commercial banks seeking the remittance of the sum of $793.2 million allegedly hidden with them in contravention of the Treasury Single Account policy.

Naira in circulation drops by 5.6% to N1.77trn – Central bank

The Central Bank of Nigeria (CBN) has disclosed that Naira currency in circulation dropped by 5.6 per cent to N1.77 trillion in July 2017.

Naira crashes against dollar, other currencies

The Naira, yesterday, crashed in the parallel market, Investors and Exporters (I&E) window.

Central bank releases $425m trapped funds to foreign airlines

The IATA representative noted that this situation had forced many airlines in the past to terminate their operations into Nigeria due to non-remittance of their money for sale of tickets.

Nigerians may access SME loans with movable assets – Saraki

The President of the Senate, Bukola Saraki, has stated that the inability to access finance, inadequate power supply and the underdeveloped transport systems are major factors hindering millions of productive but unemployed and underemployed youths from starting small businesses.

Sovereign Wealth Fund contributors to reap dividends from 2018

The Managing Director, Nigeria Sovereign Investment Authority (NSIA), Uche Orji, said on Monday that contributors to the Sovereign Wealth Fund will be eligible to dividends from 2018.

Central bank boosts Forex market with $195m

The Central Bank of Nigeria (CBN) on Monday boosted the Foreign Exchange (FOREX) market by 195 million dollars intervention in three segments of the market.

Bank of Industry disburses N21m to 438 traders in Bauchi

The Bank of Industry (BoI) has disbursed a fresh N21 million loan to 438 traders in Bauchi State.

Central bank to block accounts without BVN

The Central Bank of Nigeria, CBN, has said that with effect from January 1, 2018, all customers without Bank Verification Number, BVN, linked to their account should no longer be entitled to debit operations.

Nigerian banks want to reposition 9mobile before sale – FBN

First Bank of Nigeria (FBN) says the Nigerian Banks who took over 9mobile — formerly known as Etisalat Nigeria — are stabilising the telecommunication company before looking for new investors to buy into the company.

Fed govt offers monthly Savings Bond at 14.54 per cent

The Federal Government will today (Monday) offer for subscription two-year and three-year Savings Bonds to investors at 13.54 per cent and 14.54 per cent, respectively.

AMCON patners EFCC against bank staff who facilitated bad loans

The Asset Management Corporation of Nigeria (AMCON) says it is collaborating with the Economic and Financial Crimes Commission (EFCC) to go after bankers who facilitated the huge non-performing loans in AMCON’s portfolio.

Dollar slumps on Russia probe report, Tokyo stocks slide

The beleaguered dollar struggled to recover from a fresh slump Friday triggered by a report on the probe into alleged Russian interference in the US election.

Naira depreciates in parallel market

The Naira depreciated yesterday to N365 per dollar in the parallel market.

Fed govt targets August to launch green bonds

The federal government remains optimistic that it will launch its Green Bond climate financing initiative this August, despite the many procedural processes necessary to the establishment of the bonds.

Recent Stories

Christian Association of Nigeria | CAN

Official: No fire outbreak at CAN national secretariat

The Christian Association of Nigeria has described as untrue, reports that its National Secretariat and National Ecumenical Centre had been set on fire by hoodlums who have hijacked the #EndSARS protests against police brutality.

Marcus Rashford launches petition calling on UK government to take more action on child...

Marcus Rashford has launched an online petition calling on the United Kingdom government to provide free school meals for more children.

Afenifere disowns, condemns quit notice to Igbo people

The Pan Yoruba sociopolitical group, Afenifere, on Saturday distanced and disowned itself from the ultimatum some Nigerian national, especially the Inbox to vacate the southern region within the next 48 hours.
The Nigeria Police Force says its investigation shows that Boko Haram, Ansaru and other terror groups are getting support from some Nigerians.

Policeman, Boko Haram insurgents killed in Yobe shoot-out

A policeman and six members of the Boko Haram terrorist group have been killed in a gunfight in Yobe State.

Sokoto commences distribution of virus palliatives

The Sokoto State Emergency Management Agency (SEMA) on Saturday commenced the distribution of the Federal Government COVID-19 palliatives to beneficiaries at Isa, Sabon Birni and Gada Local Government Areas (LGAs) of the state.