The Central Bank of Nigeria (CBN) says fake naira notes in circulation are less than one percent. The CBN was reacting to statement credited to Obadiah Mailafia, an ex-deputy governor of the bank, who claimed […]
Deposit Money banks have agreed to contribe five per cent of their Profit After Tax (PAT) to a pool of funds to fund eligible bankable projects meant for exports and to drive the economy. Based […]
The management of Skye Bank Plc has announced the promotion of over 300 of its employees under the 2016 annual staff performance review exercise. The promotion, which cuts across several cadres up to the managerial […]
Five commercial banks have been queried for manipulating foreign exchange (forex) transaction rates, The Nation learnt at the weekend. The Central Bank of Nigeria (CBN) detected the rate manipulations following the mandatory rendition of forex […]
The Senate yesterday in Abuja passed the 2017-2019 medium term expenditure framework (MTEF) and fiscal strategy paper (FSP), retaining the exchange rate of N305 to $1 as proposed by the executive but raised the proposed […]
Mavrodi Mondial Moneybox, a Ponzi scheme known simply as MMM, on Friday opened for business after one month of break, but investors in the scheme have remained stranded as they still cannot access their funds. […]
The Central Bank of Nigeria (CBN) has told Bureau de Change (BDC) operators it does not intend to devalue the naira and will support it at current levels, especially with a recent rise in oil […]
Unfortunately, the story will remain the same with the reluctant attitude towards the criminal prosecution of bankers and the banks themselves. It is unfortunate that legal safeguards cannot be maintained because the money the banks […]
The Nigerian National Petroleum Corporation on Saturday said it would study the court ruling ordering a temporary forfeiture of $153.3 million purportedly belonging to former Nigerian petroleum minister, Diezani Alison-Madueke, before taking a decision. Justice […]
Paper money or fiat currency is still the greatest innovation conceived by man. Imagine Nigeria being some type of human zoo of sort that still trades by barter. If we import loads of Apple’s iPhone […]
Qatar National Bank (QNB) has increased its stake in Ecobank Transna-tional Incorporated (ETI) by more than 60 per cent in the past two years. The investment has earned Qatar National Bank the largest single shareholder […]
Muhammad Sanusi II, the emir of Kano and former governor of the Central Bank of Nigeria (CBN), recently claimed that the CBN has been illegally funding the Muhammadu Buhari-led administration. In his claims, Sanusi said […]
THE Federal Government is set to abolish the policy of the Central Bank of Nigeria, CBN, regarding the 41 items exempted from foreign exchange market in its newly released 2017 Fiscal Policy Roadmap The policy […]
ABUJA— The on-going economic recession has persisted owing to application of wrong prescription by non-professionals, the Director of Policy of the Central Bank of Nigeria, CBN, Mr. Moses Tule, has contended. The CBN chief spoke […]
The Central Bank of Nigeria says the naira has lost about 85 per cent of its value in the last two years and there is a need for risks managers in banks to be on […]
The Naira has come under fresh pressure in the parallel market having depreciated to N473 per dollar following the decision of the Central Bank of Nigeria (CBN) to slash dollar sales to Bureaux De Change […]
If the new monies pumped into the economy have not driven increases in output or productivity, did they simply run after the dollar, pushing up domestic prices in the process? If the answer to this […]
Banks often don’t tell customers what they should know. This is why the customers must research to know his or her rights. Here are some secrets you should know, according to www.advicesavings.com: Know the protection […]
Nigeria’s central bank left its main lending rate unchanged for a second consecutive meeting as it tries to balance the needs of an economy that’s shrunk every quarter this year with an inflation rate that’s […]
The State Security Service has arrested about 40 Bureau de Change operators in Kano for allegedly selling foreign currencies above the official rates. An official of the Alamant Bureau de Change Association in Kano, Abdulhamid […]
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