Economic and financial experts on Wednesday expressed divergent views on the latest decision of the Central Bank of Nigeria, but agreed that the economic crisis plaguing the nation had yet to be addressed. The CBN’s Monetary Policy Committee had on …
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Kenya and Nigeria will launch five year business visas for business people operating in both countries to allow ease of doing business. While signing various bilateral trade agreements in Nairobi president Uhuru Kenyatta of Kenya and Muhammadu Buhari committed to …
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President Muhammadu Buhari declared late Wednesday in Nairobi, Kenya, that he was yet to be convinced that Nigeria and its people will derive any tangible benefit from an official devaluation of the Naira. Speaking at an interactive meeting with Nigerians …
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The Indian Government says it will continue to buy Nigeria’s crude oil and sustain its bilateral cooperation with the country in power, agriculture, Natural Gas, and Small and Medium Enterprises (SMEs). Mr Kaisar Alam, acting High Commissioner of the India …
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Low oil revenue to linger The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday warned Nigerians to brace for a longer period of low revenue from oil sources, which would necessitate hard and uncomfortable choices. The committee, …
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The Central Bank of Nigeria (CBN) has indirectly reintroduced Commission on Turnover (CoT) fee as Current Account Maintenance (CAM) Fee. Recall that the CBN in 2013 commenced phased reduction of CoT which terminated with zero CoT charge this year. But in a …
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Nigerian Investment Promotion Commission (NIPC) has said this is the time for investors to come and invest in Nigeria, saying the challenges facing the country at the moment is an ample opportunity for investors. The Executive Secretary of the Commission, …
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Botswana-based Letshego Holdings Limited has acquired a 100 per cent shareholding in FBN Microfinance Bank from its parent, FBN Holdings Plc, Nigeria’s oldest banking group. Letshego is a financial inclusion-focused group with consumer, micro lending and deposit-taking subsidiaries across Southern …
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About $2.9bn (N571bn) is being lost annually by the Federal Government to tax incentives given to some companies operating in the oil and gas sector under the Nigerian Liquefied Natural Gas consortium. The figure was released by ActionAid Nigeria on …
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The Debt Management Office (DMO) is to raise between N260 billion ($1.30 billion) and N350 billion ($1.75 billion) from primary issue in the first quarter of 2016, according to its provisional issuance calendar for Q1 2016. It plans to raise …
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Skye Bank Plc has concluded plans to raise fresh capital during the first quarter of 2016 to beef up its capital base and improve its working capital. The bank will this year shift its business focus to retail and commercial …
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The Central Bank of Nigeria on Friday said it would refund the N35m paid by licensed Bureau De Change operators across the country as mandatory caution deposit. The move followed last week’s ban of direct sale of foreign exchange to …
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It’s dead on arrival, not feasible – PDP senators No, it’ll stimulate economic growth – APC senators Senators want oil price benchmark reduced, warn against excessive borrowing Senators yesterday were sharply divided along party lines on the feasibility of the …
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The Federal Government through the Central Bank of Nigeria, on Tuesday, imposed stamp duty of N50 on bank customers for money received into their accounts. Consequently, bank customers will henceforth pay N50 stamp duty for money received into their accounts …
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Worried by the current glut in the international market and dwindling revenue from Nigerian crude oil export, the Central Bank of Nigeria, CBN, and the Nigerian Export/Import Bank, NEXIM, yesterday formed partnership to devise strategies to revamp Nigeria’s non-oil exports. …
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The Governor, Central Bank of Nigeria, Mr. Godwin Emefiele, explained to the Senate on Tuesday that some harsh monetary decisions taken by the United States and Nigeria’s over dependence on foreign goods were responsible for the continuous fall in the …
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Determined to recover Nigeria’s stolen funds stashed in foreign banks, the Federal Government, yesterday, signed different bilateral agreements with the United Arab Emirates, UAE. The agreements were essentially on trade, finance and judicial matters. While the agreement on trade was …
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The Chief Executive of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema, has said that the outstanding federal government N2.2 trillion budget deficits could be effectively financed through the instruments in the capital market. He stated this while appraising the performance …
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The Nigerian Stock Exchange (NSE) and FMDQ OTC Securities Exchange yesterday listed the Transcorp Hotels Plc N10 billion Series 1, 7-Year 16 per cent Fixed Rate Unsecured Bonds under a N30 billion Medium-Term Bond Programme. Transcorp Hotel is the the …
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Ekiti State Government has commenced the disbursement of N500 million Small and Medium-Sized Enterprises (SMEs) loan to the beneficiaries. The N500 million is the first tranche of the N2 billion the Central Bank of Nigeria (CBN) earmarked for the support …
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