The Nigeria Extractive Industries Transparency Initiative (NEITI) has reported that some oil companies and ministries, departments and agencies (MDAs) failed to remit over $8.3 billion into the Federation Account as required by extant financial regulations. The Executive Secretary of organization, Dr. Ogbonnaya Orji, made this disclosure in a detailed report on Nigeria’s extractive industry operations […]
The Securities and Exchange Commission (SEC) Nigeria has restated its commitment to continuously educate and enlighten investors as part of its sustained efforts to guide them on right investment decisions. The commission’s Head, Office of the Chief Economist of the SEC, Dr. Okey Umeano, who made this promise during an interview, noted that the rising spate of […]
In furtherance of its efforts to ensure that the provisions of the Money Laundering Act are fully complied with in the nation’s public finance system, Nigerian Financial and Intelligence Unit (NFIU) on Thursday announced a total ban on cash withdrawal from Public Accounts and payment of Estacode and travel allowances in cash and criminalized it. […]
The Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, on Tuesday stoutly justified its monetary’ policy forbidding crypocurrencies transactions in Nigeria, saying trading in the virtual assets is illegal and has no place in Nigeria’s monetary system. Emefiele, who re-affirmed the apex bank’s policy stance against the virtual currencies when he appeared before […]