News Reports

Charles Soludo

‎Eliminate multiple exchange rates, Soludo tells Central Bank of Nigeria

“I think some steps are beginning to be taken, but it is still quite a long way to go.”

Diamond Bank Headquarters

Photo: Business News

Diamond Bank’s profit after tax drops to N3.49 billion

The bank’s gross earnings also dropped to N212.41 billion from the N217.09 billion.

Dollar and Naira bills [Photo credit: NairaFX]

Naira stabilises at parallel market

The Nigerian currency traded between N380 (buying rate) to N385 (selling rate) on Monday.

Access Bank building

Employee sues Access Bank over alleged unlawful suspension

The banker is asking the court to order the bank to reinstate him without further delay.

Dollar and Naira bills [Photo credit: NairaFX]

Foreign exchange rate round-up Week 3 April

The highest value for the Pounds Sterling was on Wednesday April 19.

Minister of Finance, Kemi Adeosun

Nigeria needs aggressive tax revenue generation to drive growth, says Adeosun

“Revenue mobilisation is critical to the success of Nigeria’ s economic reform agenda,” the minister said.

Godwin Emefiele, CBN Governor

CBN to sanction banks hindering SMEs’ access to forex

The apex bank spokesperson urges Nigerians frustrated by banks to call and lay complaints.

Godwin Emefiele, CBN Governor

CBN rejects IMF’s call on Nigeria to float local currency

The bank says there is no country that floats its currency by just leaving it to the dictates of the market.

Central Bank of Nigeria (CBN)

Forex: CBN creates special window for investors, exporters

“Supply of foreign currency to the new window shall be through portfolio investors.”

Central Bank of Nigeria (CBN)

Cashless Policy: CBN suspends charges on large withdrawals

The Central Bank also ordered commercial banks to make refunds to customers already affected.

Western-Union

Diaspora remittances to Nigeria, other developing countries decline in 2 years – World Bank

Remittance to Nigeria, according to the report, went down by 10 per cent in 2016.

NNPC Towers

NNPC diversifies into health sector

‎”My vision is to make NNPC a renowned Health Medical Services (HMS) provider globally.”

Executive Secretary, Nigerian Content Development Monitoring Board, Simbi Wabote

INTERVIEW: Why local content in Nigeria’s oil, gas industry is low – Executive Secretary, NCDMB

The official also spoke on the challenges of accessing the Nigerian Content Development Fund.

Minister of Finance, Kemi Adeosun

Correct policies, not OPEC deal will take Nigeria out of recession – Adeosun

The minister noted that Nigeria must focus on implementing the right type of economic policies.

The World Bank

Nigeria needs reform to avoid future forex crisis, says World Bank

The World Bank official noted that continued monetary policy tightening would address the pressures on the Naira.

Ecobank

Ecobank declares 2016 results, posts N52 billion post-t

Loss before tax amounted to N33.7 billion.

Central bank of Nigeria

Central Bank disburses $280 million to SMEs, BDCs, others

Under the new arrangement, SMEs are allowed to purchase $20,000 per quarter.

Dollar and Naira bills [Photo credit: NairaFX]

Naira strengthens against dollar at parallel market

The naira appreciated from the N410 it posted at the segment on Friday.

Nigerian economy improved slightly in 2016, but remains in recession -- NBS [Photo Credit: naija247news.com]

Nigeria’s economy to rise 0.8 per cent in 2017 – IMF

The IMF said continued growth in agriculture and big government spending will drive the nation’s growth.

NNPC TOWERS

Unremitted oil revenue: NEITI wants Nigerian govt to revisit transfer of oil asset to NPDC

“In total, the non-payment for the 12 oil blocks by NPDC sums up to $3.925billion,” NEITI said.

Central bank of Nigeria

Over N7 trillion recorded in TSA – Nigerian govt

The official said the Nigerian government saves N4 billion monthly on MDAs bank accounts

Photo credit: Drum

Facebook shareholders demand report on fake news threat

The board of directors of the company recommend a vote against the proposal.

Bureau De Change

‘Nigerian politicians behind naira’s decline’

The bureau de change union says politicians are stashing huge amounts of dollars.

NNPC TOWERS

‘Missing’ Petrol Scandal: NNPC confirms Premium Times report of retirement of top officials

The NNPC announced the immediate retirement of three of the officials, and redeployment of four others.

NBS

Nigeria’s inflation declines by 0.52 per cent in March – Statistics Bureau

On a year-on-year basis, the sector recorded a reduction from 18.53 per cent in the previous months to 18.44 per cent.