Finance

Fraud places Union Bank in serious financial jeopardy

However, according to insiders, the bank is exposed to litigation issues that could see it in serious financial trouble in the future as events unfold in the courtroom.

Afreximbank opens shareholding to investing public

Supranational trade finance bank, African Export-Import Bank (Afreximbank), says it is opening its shareholding to the investing public with a 300 million dollars equity offering through the issuance of depositary receipts.

Foreign reserves reach $31.22bn, first time in 2 years

Nigeria’s foreign exchange reserves rose to $31.22 billion, data from the Central Bank of Nigeria, CBN, have shown.

Naira sustains gain at parallel market

The naira on Wednesday appreciated against the dollar at the parallel market, exchanging at N363 to the dollar from the N364 posted on Tuesday.

Naira sustains gain at parallel market

The naira on Wednesday appreciated against the dollar at the parallel market, exchanging at N363 to the dollar from the N364 posted on Tuesday.

Naira stabilises after crash at parallel market

The Naira on Tuesday exchanged in the parallel market at N366, same rate it closed on Monday.

Central bank’s forex injections boost confidence in economy – Analysts

“About 57per cent of the total foreign capital inflows into the Nigerian economy between January and May 2017 was recorded in April 2017 and May 2017 following the commencement of the I&E window on April 24, 2017,” they stated.

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.

Recent Stories

President Buhari presides over Federal Executive Council (FEC) Meeting in State House on 12th Dec 2018-4

President Buhari condoles with Kenya’s Uhuru Kenyatta over terror attack

As the casualty in the Kenya’s terror attack hits 21, President Muhammadu Buhari has commiserated with the government and people of Kenya on the attack on a hotel and office complex in Nairobi.
Atiku Abubakar

Atiku Abubakar: I was personally involved in crafting ideas in my document

The presidential candidate of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar, has revealed that he was personally involved and participated in crafting the ideas in the working document he released tagged “The Atiku Plan”, which contains his ideas on how to get Nigeria working again.

Senator Ekweremadu: Thieves stole money in federal lawmaker’s car

The Deputy Senate President, Ike Ekweremadu, on Thursday, shocked his colleagues when he revealed how some thieves broke into the luxury car of a senator and stole huge sums of money.

Board says working to make UNILAG sports hub

As the University of Lagos (UNILAG) prepares to host the 26th Nigerian Universities Games Association (NUGA) Games, its Sports Management Board says the institution will soon be the country’s sports hub.

Abuja court suspends arrest warrant against NFF chiefs, summons presidential panel

The Chief Magistrate District Court II in Abuja has suspended the warrant of arrest issued previously to the Special Presidential Investigative Panel (SPIP) headed by Chief Okoi Obono-Obla against five top officials of Nigeria Football Federation (NFF).