The Nigerian insurance industry has been ranked the second in Africa. This was according to reports from the commissioner for Insurance of NAICOM, Fola Daniel during a conference which held recently. “Nigeria’s insurance industry is now the second largest in …
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Industrial and Energy Insurance Plc, said it has paid $1.3m as claims to Niger Delta Power Holding Company Limited(Sapele Power Plant). According to information made available to newsmen the claims were indemnifications for the loss from high tunnel load temperature defects …
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The Maritime Arbitrators Association of Nigeria (MAAN )has called on stakeholders in the maritime industry to pick interest in marine insurance and it’s value as this would be a vital catalyst to the growth and stability of their businesses. This …
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The Central Bank of Nigeria, CBN, has likened the Nigerian economy as “a volcano waiting to erupt” had the foreign exchange pressure been left unchecked. According to the Director of Monetary Policy Department, Moses Tule, the recent policy on foreign …
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Banks and discount houses will from August 1st commence the publication of the list of loan defaulters in newspapers, as directed by the Central Bank of Nigeria. The CBN in a circular referenced BSD/DIR/GEN/LAB/08/022 dated April 22, 2015 entitled: Recovery …
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About N252bn has been set aside by the Central Bank of Nigeria as credit to support businesses owned by women in the country. The CBN said the facility was dedicated to Small and Medium-scale Enterprises, noting that it would deepen …
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The Central Bank of Nigeria last week said that all transactions consummated by any licensed Bureau De Change operators in the country must have the Bank Verification Number of the customers. The directive, which was contained in a circular issued …
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Long grain or imported rice and other food items on the list of items that have been barred by the Central Bank of Nigeria from accessing foreign exchange will witness double digit increase in prices, according to stakeholders in the …
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The Central Bank of Nigeria (CBN) has been directed by the Senate President, Dr. Abubakar Bukola Saraki on Wednesday, to ensure the urgent recovery of the N30billion which was the cost of waivers illegally granted to some category of importers. …
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The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, wednesday revealed that the country’s external reserves had risen to $31.89 billion as at July 7, 2015. Emefiele attributed this to strong efforts of President Muhammadu Buhari to plug all …
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The Central Bank of Nigeria (CBN) last week stated that beyond the exclusion of funding for 41 items in the interbank forex market, the items cannot also be funded from proceeds of exports as well as the bureau de change …
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The newly appointed Accountant-General of the Federation, Alh. Amed Idris, on Monday formally assumed office and vowed zero tolerance for corruption at the Treasury House. Idris took over from the acting AGF, Mr. Mohammad Dikwa, at about 5:30pm on Monday …
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The Permanent Secretary, Ministry of Finance, Mrs Anastasia Nwaobia, on Tuesday said that N409.3 billion was shared among the Federal, States and Local Governments, as revenue for May, 2015. Nwaobia said this while addressing newsmen on the outcome of the …
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The Central Bank of Nigeria has said it will punish Deposit Money Banks and Bureaux de Change that sell foreign exchange to importers of rice, toothpick, tomato paste and private jets, among others, into the country. The CBN Governor, Mr. …
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The former governor of the Central Bank of Nigeria (CBN), Lamido Sanusi will head up Blackstone’s sub-Saharan African energy infrastructure fund, the giant private equity firm has revealed. Sanusi was considered an astute and charismatic CBN governor for Africa’s biggest economy and …
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Nigeria’s consumer inflation rose to 9.0 per cent year-on-year in May, the upper end of a central bank target, from 8.7 per cent in April, marking the highest rate since May 2013, the national statistics office said. Food inflation edged …
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The Islamic Republic of Iran has said it is targeting increased trade volume and value in Nigeria from $50 million to $500 million. Mr. Saeed Koozechi, the Iranian Ambassador to Nigeria, disclosed this while addressing participants at the opening of …
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Extends deadline to eject Nigeria by 6 months JP Morgan has threatened to remove Nigeria from its Government Bond Index (GBI-EM) by the year-end unless the Central Bank of Nigeria, CBN, restores liquidity to foreign exchange market to allow foreign …
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The Nigerian Stock Exchange All-Share Index slipped below 34,000 basis points on Wednesday as equities continued their poor run. Specifically, the NSE ASI shed 172.19 basis points or 0.5 per cent to close at 33,879.21, down from 34,051.40. Consequently, its …
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The Central Bank of Nigeria on Thursday made a slight adjustment to its naira-dollar exchange rate peg, data on its website showed. The bank adjusted the rate at which it sold the United States dollar from N197 to N196.95, The …
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