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 […]
Some experts have identified greed, corruption and instability of the financial sector as reasons why people keep money at home. In South-West, a financial analyst, Mr. Rotimi Agboluaje, bemoaned the trend, saying this had impacted […]
The naira tumbled to 470 against the United States dollar on Wednesday, down from 455 on Tuesday as fresh dollar shortage hit the official and parallel foreign exchange markets. The local currency has been relatively […]
The recent 22nd edition of the Nigerian Economic Summit (NES#22) organized by the Nigerian Economic Summit Group (NESG) on the theme: “Made-In-Nigeria” presented public and private sector players opportunity to interact and share ideas on […]
we cannot be certain whether Nigerians should celebrate or decry the recent decision by the Central Bank of Nigeria to reduce the existing annual limit on naira debit cards used abroad, from $150,000 to $50,000 […]
…if we could open the eyes of our people in Africa and other developing countries to know the laws of money, then we can indeed help our continent. I am convinced that giving out food […]
This second look at the urgent need to review the Central Bank of Nigeria Act will not end on a sarcastic note as the previous one concluded: “In the absence of a productive real sector, […]
The foreign exchange crisis hitting the economy has assumed a new dimension with Deposit Money Banks announcing the suspension of overseas Automated Teller Machine card services and online transactions denominated in foreign currencies, OYETUNJI ABIOYE […]
A viable mobile money platform in Nigeria would trigger a tremendous growth in the country’s financial system as can be seen in Kenya where the service provides an outlet for financial institutions to give out […]
Fifty customers owe commercial banks the sum of N5.23tn, representing 33.4 per cent of the total private sector credit exposure of N15.68tn, the Central Bank of Nigeria’s Financial System Stability report has stated. The FSS […]
I never could consider that those families who were wealthy were not just lucky or fortunate. I was never told that people who control real wealth were first wealthy in their minds. Even those who […]
The Presidency appears to have passed a vote of confidence on the Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, following the moves by some members of the House of Representatives to […]
The World Bank says eight in 10 Muslims do not use conventional banking systems — a practice that emphasises the need for Islamic Banks. Speaking at the World Bank Headquarters in Washington, Arunma Oteh, vice […]
European Union (EU) official Fillippo Amato yesterday advised the Federal Government to devalue the Naira as part of measures to tackle the economic recession. Amato, Counsellor, Head of Trade and Economics Section of EU, stated […]
To ex-Central Bank of Nigeria (CBN) Governor Charles Soludo, the proposals to sell valuable national assets remain in the realm of advice and recommendations. The professor believes that the targeted revenue from such endeavour will […]
The Minister of Finance, Mrs. Kemi Adeosun, has said that she cannot predict when the nation will get out of the current economic recession. She, however, said that some of the efforts of the government […]
Unity Bank Plc, yesterday sacked not less than 215 of its employees as part of its reengineering strategy for greater performance. According to information gathered from sources close to the bank, the workers were sacked […]
The Central Bank of Nigeria, CBN, has asked Nigerians to brace up for the current economic recession in the country, saying that it was not a 100 metre race but a marathon. Acting Director of […]
There is no doubt that our nation’s overdependence on food importation in feeding her citizens despite the availability of large cultivable expanse of fertile land spread across the 36 states and the Federal Capital Territory, […]
Any economy is as strong as its banks. So, if this is “our worst possible time”, then no sector of the economy reflects our situation better than our banks. That many are hanging on the […]
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