…to manage the parallel market into extinction, I am of the opinion that the first decision is to reduce the demand in that market, and consequently reduce the supply. To reduce demand, the CBN needs […]
There is an emerging debate that since the Nigerian government buckled to float the naira, with the parallel and official rates of exchange still widely far apart, whether the flexible exchange rate policy was the […]
There is an emerging debate whether since the Nigerian government buckled to float the naira, with the parallel and official still widely far apart, the flexible exchange rate policy was the right thing after all. […]
The last few months have witnessed a number of policy shifts that cannot but be of immense benefits to the Nigerian economy. Unfortunately, the policy shifts are in the short run injurious to well-being but […]
Amidst lingering dispute between Central Bank of Nigeria, CBN, and eight banks banned from participating in the inter-bank foreign exchange market, the local currency, Naira, has suffered further bashing, depreciating to N415/ USD1 yesterday in […]
United Bank for Africa (UBA) Plc shareholders have got some good news. The board of directors has recommended payment of N7.26 billion as interim dividends for the first half of this year as the bank […]
The Central Bank of Nigeria (CBN) has deleted the United Bank for Africa (UBA) from the list of nine deposit money banks (DMBs) banned from the foreign exchange market, for hiding over $2 billion belonging […]
The Chief Executive Officers (CEOs) of banks will today meet in Lagos over sanctions imposed on nine lenders for failing to remit money owed to the Federal Government, New Telegraph has learnt. Also, the Central […]
The naira tumbled to 402 against the dollar at the parallel market on Wednesday, a day after the Central Bank of Nigeria banned nine banks from the foreign exchange market for failing to remit $2.334bn […]
The Central Bank of Nigeria on Tuesday wielded the big stick as it barred nine Deposit Money Banks from the nation’s foreign exchange market for failing to remit the sum of $2.334bn belonging to the […]
Deposit Money Banks have yet to comply with the Central Bank of Nigeria’s directive asking them to sell $50,000 from Diaspora remittances to Bureau De Change operators on weekly basis, the President, Association of Bureau […]
The Central Bank of Nigeria, CBN, yesterday, ordered Authorised Dealers (banks) to allocate 60 per cent of their total Foreign Exchange, forex purchases from all sources (interbank inclusive) to manufacturers and 40 per cent to […]
“Be thou as chaste as ice, as pure as snow, thou shalt not escape calumny.” William Shakespeare, 1564-1616. VANGUARD BOOK OF QUOTATIONS, VBQ, p 25. There must be occasions when the Governor of the Central […]
Deposit Money Banks have put up for sale over 1,000 properties belonging to several customers, who were unable to service their loans, investigations by Sunday PUNCH have shown. This came about eight months after the […]
LAGOS—Naira, yesterday, suffered its most steep depreciation in the inter-bank market since the new foreign exchange market commenced, trading at N365.25 per dollar against N314.14, almost 14 per cent drop in one day.
LAGOS—Money market activities closed, weekend, with a record N1.2 trillion over subscription to the Nigerian Treasury Bills, NTB, indicating that financial institutions are cashing-in heavily on the recent jerk-up of the Monetary Policy Rates, MPR, […]
The Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, on Saturday said the apex bank took the best monetary policy option in addressing the current economic challenges facing the country. He also said […]
South Africa’s economy has leapfrogged Nigeria’s as Africa’s largest in dollar terms, reclaiming the top spot it lost two years ago. Both economies face recession after contracting this year. But while the South African rand […]
The Kaduna State governor, Nasir el-Rufai, on Wednesday decried the Central Bank’s prevailing fiscal regime, saying the bank’s 14 per cent monetary policy rate has led to massive job losses in the country. Mr. El-Rufai […]
It may well be said that adversity, and not necessity, is the mother of invention or innovativeness as the case may be. This is the story of Nigeria’s tax regime in which non-oil revenue has […]
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