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.

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Nigeria’s downstream sector records $56 billion revenue yearly

Nigeria’s downstream sector records a yearly income of 56 billion dollars, Mr Abayomi Awobokun, Chief Executive Officer, Enyo Retail and Supply Limited, has said.
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Beni Lar: My constituency under siege

A member of the National Assembly representing Langtang South/Langtang North Federal Constituency of Plateau State, Hon Beni Lar, has cried out that her constituency is under siege of political thugs ahead of the rescheduled presidential and National Assembly elections holding on Saturday.
Atiku Abubakar, presidential candidate of the Peoples Democratic Party (PDP), has again accused President Muhammadu Buhari of clamping down on the judiciary.

Kailani Muhammad: Atiku Abubakar is desperate to be president

A chieftain of the ruling All Progressives Congress (APC), and strong ally of President Muhammadu Buhari, Engr. Kailani Muhammad, has said that, the presidential candidate of the People’s Democratic Party (PDP), Alhaji Atiku Abubakar, is desperate to be president of Nigeria.

Suspected herdsmen kill 16, injure two in Benue

Suspected herdsmen on Wednesday killed 16 persons and injured two others during an invasion of Ebete community in Usha council ward of Agatu Local Government Area of Benue State.