Two days after Patience Jonathan was blocked from withdrawing from the $5.8 million she deposited in Skye Bank, the financial institution has explained its action. Mrs. Jonathan had on Monday visited the Maitama Branch of […]
Ibukun Awosika, Ngozi-Okonjo Iweala, Arunma Oteh, Nike Akande, Kemi Adeosun, Sola David-Borha, Sarah Omotunde Alade, are part of the very few Nigerian women breaking barriers, setting records and shattering glass ceilings in the world of […]
United Bank for Africa (UBA),which has branches in 19 African countries, has announced the promotion of 3,000 staff members. Commenting on the development, Kennedy Uzoka, CEO of the bank, said taking care of the staff […]
The Central Bank of Nigeria (CBN) on Sunday reiterated its determination to sustain the provision of foreign exchange with a view to ensuring liquidity in the market and enhance accessibility and affordability for genuine end […]
The Central Bank of Nigeria (CBN) has directed bureau de change operators (BDCs) to sell the dollar at N362 to Nigerians in need of it. This directive comes barely 24 hours after its directive to […]
Fluctuating real exchange rate impairs economic growth in resource rich countries. In countries with the Dutch disease, the real exchange rates move with the prices of natural resources. Nigeria is a perfect example of such […]
For one or two years now, the Central Bank of Nigeria’s Monetary Policy Committee has retained the monetary policy rate (MPR) at 14%. The MPR is just a peg, the lowest interest rate a bank […]
The Asset Management Corporation of Nigeria has announced Sigma Golf Nigeria Limited and Riverbank Investment Resources Limited (the Sigma Golf-Riverbank Consortium) as the new investors in relation to the acquisition of the entire issued and […]
The recent decision by the Central Bank of Nigeria, CBN, to reintroduce various charges on large cash transactions in deposit money banks has generated mixed reactions by Nigerians, PREMIUM TIMES investigations have revealed. The regulator […]
When scarce supplies are met with limitless demands, allocation of resources in the most judicious ways are employed to ensure prices don’t spiral out of control. While in the long-term, demands are either managed or […]
Since Nigeria was confirmed to have slipped into a recession in August 2016, Nigerians, investors from across the world, the World Bank and International Monetary Fund (IMF) have been waiting on the Muhammadu Buhari government […]
There is the Naira’s new strength coming from? The Central Bank of Nigeria (CBN) said yesterday that the currency’s appreciation against others was the result of its market monitoring and intervention. Its spokesman Isaac Okorafor […]
I got an interesting call from my account officer in one of the so-called new generation banks Friday last week. It was a follow up to an earlier discussion on the newly introduced forex policy […]
The strength of a nation’s currency is an expression of the vibrancy, and robustness of that country’s economy. Conversely, a very weak currency therefore is a mark of a country with a perverse economic mix. […]
Way ahead of questions around the sustainability of current supply levels to the market. The more important question should be: “In the light of our experience with the foreign exchange market over the last two […]
Nigerians who deposit or withdraw N500,000 and above will now pay between 1.5 per cent and 7.5 per cent charges, according to a new banking policy. The new policy was approved by the Bankers’ Committee […]
About 24 hours after The Central Bank of Nigeria (CBN) announced fresh policy actions in the foreign exchange market, the bank has pumped $370.9 million into the forex market. On Tuesday, the apex bank carried […]
The Central Bank of Nigeria (CBN) says every Nigerian, 18 years or older, is entitled to $4,000 per quarter of $16,000 per year for personal travel allowance (PTA) under the guidelines for the adjusted foreign […]
The Central Bank of Nigeria on Monday modified its foreign exchange policy with the reduction of the tenor of its forward sales from the current maximum cycle of 180 days to 60 days from the […]
The Central Bank of Nigeria (CBN) says it has provided additional forex to banks, as part of its efforts to alleviate the hardship experienced by Nigerians who need forex for school fees, medicals and personal […]
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