The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, on Sunday said that the apex bank may review the $8.134 billion fine imposed on the MTN Group Ltd if facts provided to support its complaints justify such decision. The apex bank had in August sanctioned the telecom operator and four banks including, Standard […]
BudgIT, a civic organization that applies technology to intersect citizen engagement with institutional improvement, to facilitate societal change, has reported that some states were yet to pay pension and salary entitlements of pensioners and civil servants despite the N1.7 trillion released to them by the Federal Government for the purpose. The civil society organization, in […]
The Central Bank of Nigeria (CBN) indicated on Thursday, through its Bankers Committee, the intention to intensify its foreign exchange restriction on imported items as part of sustained efforts to ease pressure on the country’s external reserves and boost local production of goods. The Managing Director of Access Bank Plc, Mr. Herbert Wigwe, gave this […]
The Acting Director General of the Securities and Exchange Commission (SEC), Ms. Mary Uduk, on Thursday advised Nigerians to take advantage of various financial products availed by the nation’s equity market and explore them for investment. Uduk, gave the advice in her welcome address delivered at the event by the commission’s Head of Investment Education […]
The nation’s equity market recorded on Thursday its third straight loss this week as the All Share Index (ASI) dipped 0.09 percent, closing at 32,423.57 points as against the previous day’s 32,454.03closing points. Specifically, the market capitalisation also fell by 0.09 percent closing at N11.837 trillion, as against N11.848 trillion of the previous trading session […]
The Nigerian National Petroleum Corporation (NNPC) on Wednesday reported that earned $416.07 million from crude oil and gas export sales in June, representing a 35.78 percent increase over the preceding month’s revenue accruals. The corporation gave the figures in its June 2018 Financial and Operations Reports which showed that crude oil export sales accounted for […]
The World Bank has revised its growth forecast for sub-Saharan Africa in 2018 from 3.1 percent to 2.7 percent, indicating a slight increase from 2.3 percent in 2017. The Breton Woods institution made the latest forecast in its October edition of the African Pulse, a bi-annual analysis of the state of African economies It stated […]
The Central Bank of Nigeria (CBN) on Wednesday supplied $210 million into the inter-bank segment of the nation’s Foreign exchange (Forex) market to boost its liquidity. Figures obtained from the apex bank on the allocation of the sum to various users showed that authorized dealers in the wholesale segment of the market were offered the […]
The Minister of Communications, Adebayo Shittu, on Wednesday assured that the Federal Government would continue to formulate policies that will promote the diversification of the nation’s economic base in view of the far-reaching socio-economic benefits of the initiative for the country. Shittu made the remarks at this at the opening session of the 15th International Telecommunication […]
Senator Olorunnimbe Mamora on Wednesday resumed as the new Managing Director of the National Inland Waterways Authority (NIWA), in Lokoja, Kogi State with the promise to transform the agency through collaboration with the workers. Mamora, in his maiden address delivered shortly after taking over from the immediate past Acting Managing Director, Barr. Danladi Ibrahim, described […]