ASSETS & FINANCIALS

 The Central Bank of Nigeria is in the process of stopping issuers of dud cheques (returned cheques) from opening current account, the Deputy Director, Banking Supervision, CBN, Mr. Stephen Nwadiuko, has said. He said the CBN was working on the …

 The Central Bank of Nigeria (CBN) enforced the sanction imposed on banks that failed to return Nigerian National Petroleum Corporation (NNPC)/Nigerian Liquefied Natural Gas (NLNG) Company dollar deposits to the federal government’s Treasury Single Account (TSA) by not selling dollars …

 The Central Bank of Nigeria (CBN) recently stated that it noticed that some authorised dealers in the FX market have continued to buy and sell FX referred to as “free funds” despite the provision of an earlier circular that warned …

 A total of 463.1 million financial transactions worth N33.87trn were settled by the banking sector between January and July this year, figures released by the National Bureau of Statistics have revealed. The NBS stated this in a report on the …

 Aero Contractors, one of Nigeria’s largest domestic airlines, is set to lay off some of its workers as its financial crisis becomes worsened. Already, the airline is in talks with aviation unions on how to cut down on the number …

 The Minister of Finance, Mrs Kemi Adeosun, has called on the Islamic Development Bank to support Nigeria in rebuilding the northeast ravaged by Boko Haram. She made the appeal on Monday in Abuja during the inauguration of the IDB Country …

 Governor Akinwunmi Ambode of Lagos State on Monday approved N15.5 million as seed funding and grants for final year students enrolled in the state’s graduate employment and entrepreneurs scheme. Ambode’s Special Adviser on Education, Mr Obafela Bank-Olemoh, said in a …

The Central Bank of Nigeria has granted Fidelity Bank Plc final licence to operate electronic commerce services in Nigeria. In a statement on Thursday, it said the development would enable the lender to empower Micro Small Medium Enterprises in line …

The Central Bank of Nigeria has again faulted speculations that some banks in the country may be going under because they are distressed, stating that all existing banks are in safe financial condition. The apex bank in a statement issued …

Dangote Flour Mills Plc’s profit from operating activities has risen to N8.47bn. This came some months after the group was reacquired from Tiger Branded Consumers Goods Plc. The group posted a profit before tax of N2.64bn in the half-year ended …

A new report by the National Pension Commission indicates the recovery of N9.38bn pension funds deducted from the salaries of workers but not remitted by their employers, NIKE POPOOLA reports The National Pension Commission has recovered N9.38bn from various employers …

The Federal Government has paid about N700bn out of the N2.1tn liabilities for the construction of 206 road projects across the country, the Minister of Power, Works and Housing, Babatunde Fashola, has said. Although the minister was not specific if …

The Federal Government on Wednesday began the review of the National Tax Policy with the inauguration of a committee to carry out the exercise. The Minister of Finance, Mrs. Kemi Adeosun, who inaugurated the committee at the headquarters of the …

The Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, on Tuesday said that the apex bank did not provide foreign exchange at a subsidised rate for the 2016 hajj pilgrims. Emefiele, according to a statement from the bank, …

The Federal Government borrowed a total of N600bn between January and June this year to augment the shortfall in revenue caused by various challenges affecting oil and non-oil receipts. The amount, which was borrowed from the domestic market, was contained …

The Wheat Farmers Association of Nigeria (WFAN) in Kano State on Wednesday commenced the registration of its members interested in the Central Bank of Nigeria’s (CBN) anchored borrower’s programme. This was disclosed in Kano, by Faruk Rabi’u, the state chairman …

Diamond Bank Plc and First City Monument Bank Limited (FCMB) have disclosed plans to raise fresh capital. Diamond Bank said it is considering raising fresh capital and selling some assets in order to strengthen its capital base, its chief executive …

The naira tumbled from 382 to 390 against the dollar at the parallel market on Wednesday as the scarcity of foreign exchange worsened. The local currency has been under persistent pressure against the greenback owing to dollar scarcity at both …

The Central Bank of Nigeria on Tuesday released four new guidelines for the banking industry, top of which was an approval for bank customers to make cheque deposits into their savings accounts. Prior to this development, bank customers could only …

The nation’s external reserves fell marginally to $26.20bn on July 28, down from $26.32 on July 22, data from the Central Bank of Nigeria’s website showed on Monday. Month-on-month, the reserves fell by 0.4 per cent from the $26.34bn recorded …