Finance

Central bank summons currency dealers, others on development in forex market

The Central Bank of Nigeria (CBN) has summoned all authorised currency dealers for a meeting to discuss development in the foreign exchange market.
France is creating a G7 task force to study how central banks ensure cryptocurrencies like Facebook’s Libra are governed by regulations ranging from money-laundering laws to consumer-protection rules, France’s central bank governor said on Friday.

France responds to Facebook’s Libra with new cryptocurrency task force

France is creating a G7 task force to study how central banks ensure cryptocurrencies like Facebook’s Libra are governed by regulations ranging from money-laundering laws to consumer-protection rules, France’s central bank governor said on Friday.

Farmers commend President Buhari for central bank supremo’s reappointment

The South, South Animal and Crops Farmers Association of Nigeria, has commended President Muhammadu Buhari for re-appointing Mr Godwin Emefiele as governor of Central Bank of Nigeria (CBN), for another five years.

431 debtors owe AMCON between N1 billion and N10 billion

Sixty-Two debtors are owing the Asset Management Corporation of Nigeria (AMCON) N10 billion and above each, the agency has said.
L-R: General Managing Director, FBN Holdings Plc, Urum Kalu Eke, MFR; Governor of Lagos State, His Excellency, Babajide Sanwo-Olu; Director General, Budget Office for the Federal Republic of Nigeria, Ben Akabueze; Founder/Chairman of Zenith Bank Plc, Jim Ovia, CON; Regional Senior Partner, West Market Area for PwC, Uyi Akpata and Partner/Experience Centre & Innovation Leader for PwC Nigeria, Femi Osinubi during the ribbon-cutting by Jim Ovia as Chairman of the occasion at the launch of the PwC Experience Centre yesterday at the CCP Place, Victoria Island, Lagos

Jim Ovia advocates for disruptive technology to scale businesses in Africa

According to Zenith Bank Founder/Chairman, Jim Ovia, businesses stand a chance to triple growth rate and earnings through innovation and technology
Zimbabwe Dollar

Zimbabwe’s currency hits new low, firms demanding payment in US dollars

Zimbabwe’s interim currency fell to a new low on the black market on Thursday and local firms were demanding payment in U.S. dollars as a hedge against inflation, which is running at its highest in a decade.

Central bank faults BusinessDay report on bank’s finances

The Central Bank of Nigeria (CBN) has stated that the report in BusinessDay newspaper of Monday, June 17, 2019, headlined: “CBN’s life support to FG rises 780% to N8.12trn in 4yrs”, is not only false, but an attempt, through sheer mischief, to distort and misrepresent CBN’s financial operations and also to misinform the investing public on the financial health of our country.

Angolan oil struggles to sell on demand fears, weak margins

Angola, a key provider of oil to China, has suffered its slowest trading month this year as poor refining margins, high freight rates and subdued demand amid the trade war between Beijing and Washington curbed its sales.

DMO denies reports foreclosing raising euro bond in 2019

Following media reports insinuating that the Federal Government has no plans to issue Eurobonds as part of its external borrowing in 2019, the Debt Management Office (DMO) on Wednesday clarified that there was no such foreclosure.

Court adjourns federal government’s $406.7 million debt recovery suit against Shell

A Federal High Court in Lagos on Wednesday adjourned until Sept. 30, for continuation of trial in a debt recovery suit by the Federal Government against Shell Western Supply & Trading Ltd.

Tribunal reverses FIRS’s N29.2 VAT on bank

The Tax Appeal Tribunal, sitting in Abuja on Wednesday, reversed N29.2 million Federal Inland Revenue Service’s (FIRS) imposed as value added tax on Infinity Trust Mortgage Bank.
Dollar

Stocks, currencies firm up ahead of US Fed outcome

Emerging market stocks rose on Wednesday while developing world currencies broadly firmed against the dollar as investors counted on the U.S. Federal Reserve’s outlook later today to match their expectations of lowering U.S. borrowing costs.

TSA: Group calls for legislation, review

United Global Resolve For Peace (UGRFP) has called on the Federal Government to propose a bill to the National Assembly to make the operation of the Treasury Single Account ( TSA ) Constitutional.
Bank of Industry (BoI)

Bank of Industry disburses $82 million for ship procurement

The Bank of Industry (BoI) has disbursed $82million to some indigenous investors for the purchase of ships. The cash covers support for companies involved in ship repairs and allied investments.
Dollar

Dollar heads toward three-month low

The dollar weakened against its rivals on Tuesday, heading back toward a recent three-month low before a U.S. Central Bank meeting gets underway with expectations growing the Fed will signal its first rate cut in a decade.
The UK pound has continued to fall following the Brexit. AFP

No-deal Brexit chills send pound to a five-month low against euro

Signs that arch-Brexiteer Boris Johnson may be a step closer to becoming Britain’s next prime minister sent the pound tumbling to a five-month low versus the euro on Tuesday as investors worried about the risks of a hard exit from the European Union.
The Founder-Chairman of Zenith Bank, Mr. Jim Ovia, has expressed optimism for more investments in the Nigerian economy.

Zenith Bank chairman expresses optimism for more investments in the Nigerian economy

The Founder/Chairman of Zenith Bank, Mr. Jim Ovia, has expressed optimism for more investments in the Nigerian economy.

Shareholders approve Union Bank’s N54.5 billion capital restructuring

Shareholders of Union Bank of Nigeria (UBN) Plc have approved a proposal to cancel N54.46 billion accumulated permanent losses in the books of the commercial bank.

Recent Stories

The Nigerian Army on Monday dismissed as ‘untrue’ social media reports indicating the closure of the Maiduguri-Monguno Road.

Nigerian Army kills 24 criminals, arrests 61

1 Division Nigerian Army on Wednesday said, it has killed 24 criminal elements during its operation Harbin Kunama III in Kano, Kaduna and Niger states within one month of operation.
Ahmed Idris Wase

Deputy speaker urges workers to make Nass conducive for lawmakers

The Deputy Speaker of the House of Representatives, Mr Idris Wase, has urged workers in the National Assembly to create an enabling working environment for members of the federal parliament.

Itse Sagay: Senators’ monthly pay is N15 million

The Chairman, Presidential Advisory Committee Against Corruption, Prof. Itse Sagay (SAN), has asked Senate President Ahmed Lawan to stop misleading Nigerians, adding that senators earn N15m monthly and not N750,000 as claimed by the Senate President.

UNODC: 10 million Nigerians use cannabis

The United Nations on Drug and Crime (UNODC) said cannabis is the most widely used drug globally with an estimated 188 million people having used the drug in the previous year.
Cameroon defender Augustine Ejangue has apologised to Toni Duggan after spitting on her in their 3-0 loss to England in Sunday's Round of 16 contest in Valenciennes.

WWC: Cameroon’s Augustine Ejangue regrets spitting on England’s Toni Duggan

Cameroon defender Augustine Ejangue has apologised to Toni Duggan after spitting on her in their 3-0 loss to England in Sunday's Round of 16 contest in Valenciennes.