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CBN Settles Additional $61.64Mn FX Forwards With Banks
In furtherance of its commitment to offset the backlog of pending matured foreign exchange (FX) in Deposit Money Banks (DMBs), the Central Bank of Nigeria (CBN) has disbursed approximately $61.64 million to foreign airlines through various banks. This initiative is part of the CBN’s efforts to decrease its remaining liability to the airlines. The latest […]
AfDB Governors Endorse Adesina’s Second-Term Devt Programmes
The Board of Governors of the African Development Bank (AfDB) has given the newly re-elected President of the continental development finance institution, Dr. Akinwumi Adesina, a mandate to renew a focus on the institution’s priorities, including closer continental integration, boosting renewable energy sources and developing infrastructure. The re-election of Adesina, who voiced great optimism about […]
Borno To Sanction MDAs Over Extra-budgetary Spending
Borno State Government on Friday warned Ministries, Departments and Agencies (MDAs) to avoid spending out their budgetary provisions and threatened that any defaulting agency will be penalized. The warning came on the heels of the payment of the sum N12 billion by the state government to offset gratuities of 4,862 retirees in the state and […]