Finance

Central bank holds workshop on livestock development in Nigeria

The Central Bank of Nigeria (CBN) has declared open workshop organized for stakeholders on livestock production and development, for enhanced diary potentials in the country.

Panama Papers: German police raid Deutsche Bank

German prosecutors raided several Deutsche Bank offices in the Frankfurt area Thursday over suspicions of money laundering based on revelations from the 2016 “Panama Papers” data leak.

Dollar weakens as cautious Fed leads to rate-hike rethink

The dollar weakened against other major currencies on Thursday as markets took Federal Reserve Chairman Jerome Powell’s comment that U.S. interest rates were just below neutral as a signal that a three-year rate-hiking cycle is nearing an end.
(FILES) This file photo taken on February 9, 2017 shows Chinese 100 yuan notes in Beijing. The Chinese currency continued its sharp decline on July 20, 2018 despite US President Donald Trump's bid to rein in the dollar, as analysts pointed out that a weaker yuan aids Beijing in its trade tussle with Washington. / AFP PHOTO / FRED DUFOUR

Kenya partners SimbaPay on money transfer to China

Family Bank, a leading bank in Kenya, has partnered with London-based financial technology firm, SimbaPay, to launch an instant money transfer service from Kenya to China.

Naira gains against dollar at investor’s window

The Naira on Wednesday gained 70 kobo to exchange at N364.15 to the dollar at the investor’s window, the News Agency of Nigeria (NAN) reports.
VTB

Russian bank mistakenly gives $12 billion loan to Central African Republic

Central African Republic landed a windfall on Tuesday, at least on paper, when Russian state bank VTB reported it had lent the country 12 billion dollars.
Bank of Industry (BoI)

Official: BoI disburses N278 billion to 219,000 enterprises

Edet Akpan, the permanent secretary, Federal Ministry of Industry, Trade and Investment, says the Bank of Industry (BOI) has disbursed N277.89 billion to 219,515 enterprises across the country since the inception of the present administration.

Forex: Central bank injects $210 million in wholesale segment, others

The Central Bank of Nigeria (CBN) on Tuesday intervened in the wholesale segment of the foreign exchange market, offering the sum of $100 million to dealers in that window.

Naira sells at 364.22 to dollar at investor’ window

The Naira on Tuesday was sold at N364.22 to the dollar at the investors’ window in Lagos, with a turnover of 147.30 million dollars, the News Agency of Nigeria (NAN) reports.

Central bank spends $20.91 billion in six months to defend naira

Within a space of six months this year, the Central Bank of Nigeria (CBN) has so far expended about $20.91 billion to stabilise the naira at the various segments of the foreign exchange (forex) market.
Acting Finance Minister of Finance Zainab Ahmed

Zainab Ahmed urges state governments to reduce overhead costs

The federal government has called on state governments to reduce unnecessary overhead costs, increase Internally Generated Revenue and embrace fiscal discipline for proper management of available resources.

Court orders Fidelity Bank to pay dismissed worker

The National Industrial Court, Abuja, on Monday ordered Fidelity Bank Plc to pay N340, 361 to its dismissed staff, Mr Alah Jonathan.
Mary Uduk

SEC: Financial Inclusion’ll aid economic growth

The Securities and Exchange Commission (SEC) has restated its desire to pursue initiatives that would aid financial inclusion of Nigerians as this is capable of growing the nation’s economy.

NAICOM cancels controversial insurance industry recapitalisation

The controversial recapitalisation exercise in insurance industry, tagged Tier Based Solvency Capital increase, initiated by the insurance industry regulator, the National Insurance Commission (NAICOM), has been cancelled. The commission officially announced the cancellation at the weekend through a circular dated Novermber 23, 2018 circulated to all insurance companies.
Zainab Ahmed

Zainab Ahmed tasks N200 million loan beneficiaries on repayment

Hajiya Zainab Ahmed, Minister of Finance, on Saturday tasked beneficiaries of the Kaduna State Women Empowerment Funds (KADWEF Loan) on prompt repayment of the loan to enable others benefit.

CBN: $3.2 billion withdrawn from NLNG dividend account in three years

The Central Bank of Nigeria (CBN) says 22 withdrawals totalling $3.12 billion were made from the Nigerian Liquefied Natural Gas (NLNG) dividends account domiciled in the apex bank in the last three years.

Central bank confirms withdrawal of $3.2 billion from NLNG dividend account in three years

Twenty-two withdrawals totalling 3.12 billion dollars were made from the Nigerian Liquefied Natural Gas (NLNG) dividends account domiciled in the Central Bank of Nigeria (CBN) in the last three years.

Experts proffer ways to grow insurance sector

Mr Ben Ujoatuonu, Managing Director, Universal Insurance Plc, on Thursday said with increased public awareness and prompt settlement of claims by policy holders, Nigeria’s Insurance sector would thrive.

Recent Stories

68 inmates gain freedom in Ogun

The Ogun Chief Judge (CJ), Justice Mosunmola Dipeolu, has granted pardon to 68 inmates from the five prisons in the state.

SGF: Federal government working on early implementation of new minimum wage

The Federal Government is working toward early implementation of new minimum wage which has caused a lot of controversies in recent times, Boss Mustapha, the Secretary to the Government of the Federation said.
Pope Francis arrives to address the Synod of Bishops, focusing on Young People, the Faith and Vocational Discernment, on October 3, 2018 at the Vatican. - AFP PHOTO - Andreas SOLARO

Pope Francis to visit Bulgaria, Macedonia in May

Pope Francis plans to visit Bulgaria and Macedonia from May, the Vatican spokesman, Greg Burke, said on Thursday.

EFCC files 59 charges against Doyin Okupe over alleged N120 million fraud

Following his inability to return N120m allegedly received from the Office of the National Security Adviser, the Economic and Financial Crimes Commission, has filed 59 charges against a former Senior Special Assistant to the President on Public Affairs, Dr. Doyin Okupe.

NECA tasks federal government on implementation of minimum wage by January 2019

The Nigeria Employers’ Consultative Association says Federal Government must conclude all legal processes for the implementation of the 30,000 minimum wage before Dec. 31, to ensure its implementation by January 1, 2019.