ASSETS & FINANCIALS

  The Governor of the Central Bank of Nigeria, Dr Olayemi Cardoso, has disclosed that the foreign exchange inflows recorded in the first quarter of 2024 into Nigeria were about 136 per cent of the total inflows recorded in 2023. …

The Federal Government may need to raise a supplementary budget to accommodate the proposed minimum wage increase for workers. This is because the negotiated amount may surpass the budgeted amount in the original 2024 budget. The International Monetary Fund gave …

The Managing Director/Chief Executive Officer of the Nigeria Deposit Insurance Corporation, Bello Hassan, has revealed that only 25 per cent of the value of customers’ deposits are insured by the corporation. Hassan said this on Monday on the sidelines of …

  The Governor of the Central Bank of Nigeria, Dr Olayemi Cardoso, has said that the members of the Monetary Policy Committee would do whatever is necessary to tame the country’s high inflation. Cardoso said this in an interview with …

The Federal Government spent about $1.12bn on foreign debt service payments in the first quarter of 2024, highlighting the growing burden of external debt on the nation’s finances. Data obtained from the international payment segment of the Central Bank of …

The Federal Government has faulted the proposal by telecommunications companies to raise their tariffs, emphasising that increasing data, voice and text message prices isn’t the “sole or optimal solution” to the sector’s challenges. It also urged the companies to explore …

  The House of Representatives, Northern Elders Forum and some members of the Organised Private sector on Thursday asked the CBN to suspend the implementation of the controversial cybersecurity levy, saying the new charge would worsen the economic hardship in …

Operatives from the Economic and Financial Crimes Commission on Tuesday reportedly arrested some h Bureau De Change operators at the popular Wuse Zone 4 market on Tuesday. This came as traders also said some BDC operators resisted the arrest during …

The Central Bank of Nigeria has directed banks to stop charges on cash deposits until September 30, 2024. CBN disclosed this in a circular dated May 6, 2024, and signed by its Director of Banking Supervision, Adetona Adedeji. Some bank …

The Central Bank of Nigeria has ordered banks operating in the country to start charging a cybersecurity levy on transactions. A circular from the apex bank on Monday disclosed the implementation of the level would start two weeks from today. …

Nigerian fintech companies have warned their customers against trading in cryptocurrency or any virtual currency on their apps, threatening to block any accounts found engaging in such activities. At least four fintechs—Opay, Moniepoint, PalmPay, and Paga—have communicated this development to …

The Central Bank of Nigeria has expressed concern over the declining economic activities in the country. The CBN deputy governor of Corporate Services, Bala Bello, disclosed this in a statement published on the bank’s website. He noted that the country’s …

The Federal Government, through the Ministry of Solid Minerals Development, has announced plans to review the rates of mining licences and other fees payable by mining operators in the country. According to the minister, in a statement signed by the …

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said that the huge purchase of foodstuffs by the government as palliatives is contributing to the galloping food inflation in the country. He stated this in his contributions during …

  Executive and non-executive directors of 10 banks received N17.79bn as sitting allowance and compensation in 2023, according to an analysis of the lenders’ financial statements. The amount represents an increase of 2.2 per cent or N375.6m from N17.4bn the …

The President of Dangote Industries Limited, Aliko Dangote, has said that the depreciation of the local currency was the company’s biggest challenge in 2023. He stated this on Tuesday during his remarks at the Annual General Meeting of Dangote Sugar …

After days of sustained bearish trading, the Nigerian exchange recorded a 0.05 per cent increase in the All-Share Index as investors gained N26bn. The local bourse has been on a bearish run for days, which has seen the major indexes …

The Federal Government through the Central Bank of Nigeria has been urged to sustain recent moves and policies being rolled out to stabilise the naira. The Chief Executive Officer of Pelican Valley Nigeria Limited, Babatunde Adeyemo, who dropped the hint …

Cardoso, CBN Governor The naira depreciated further against the United States dollar at the official market on Tuesday, closing at 1,300/$. This came as the Central Bank of Nigeria stepped up efforts to stem the tide, selling more dollars to …

Godwin Emefiele, Former CBN Governor The Economic and Financial Crimes Commission has filed a fresh charge at the High Court of the Federal Capital Territory against the embattled former governor of the Central Bank of Nigeria, Godwin Emefiele. EFCC in …