President Muhammadu Buhari on Friday assented to the Banks and Other Financial Institutions Act 2020. The piece of legislation repeals the extant Banks and Other Financial Institutions Act 1991 as amended. It is expected to enhance the resilience of the Nigerian financial system for economic growth. The BOFI Act 2020 updated the enabling law in…

The Chief Justice of Nigeria (CJN), Justice Ibrahim Muhammad, Governor of Central Bank of Nigeria (CBN), Godwin Emefiele and over 70 judges will be attending an e-workshop on enforcement of Movable Assets and Credit Reporting Acts, 2017. The workshop, which holds between October 27 and 28, is organised by the National Judicial Institute (NJI), CBN,…

The Central Bank of Nigeria (CBN) has done the appropriate thing by introducing a new foreign exchange (FX) regime and guidelines for the operations of the market-driven exchange rate for the Naira.

An investigation into alleged abuses in the management of the N500 billion Federal Government intervention fund released in 2011 for the power and aviation sectors as well as the Small and Medium Scale Enterprises...

The Central Bank of Nigeria (CBN) may today unfold the details of the operation of the new foreign exchange (forex) administration in the country.

Often times the Nigerian economy lacks the necessary parametres to critically appraise it and come up with analyses that would enable business operators, especially small-scale and cottage businesses....

Despite attempts by the Central Bank of Nigeria (CBN) to rescue the naira in the face of dwindling revenue, the efforts have so far failed to yield positive result, as the economy...

Let it be clear from the outset: the battle against corruption must be executed with all the seriousness it deserves and there must be no exception! Corruption has been appropriately deemed more...

WITH 1,461 cases of electronic fraud volume reported in 2014, against 822 of 2013, the Nigeria Inter Bank Settlement Systems (NIBSS) Plc, has called for the passage of the Cyber crime bill into law before the end of this present regime.

THE Nigeria Employers’ Consultative Association (NECA) has decried alleged plans by the Consumer Protection Council (CPC) to embark on criminal prosecution of some corporate organisations. Director General of NECA, Olusegun Oshinowo, explained at the weekend that while it is in order for the CPC to denounce any form of consumer rights abuses in any sector…

...Food products’ importation gulps 13.2% of outflows The nation’s economy recorded a favourable position in inflow-outflow foreign exchange transaction in January 2015, with a net inflow of $5.4 billion. The aggregate foreign exchange flow through the economy, as contained in the Economic Report of the Central Bank of Nigeria (CBN), showed that total inflow was…

THE Central Bank of Nigeria (CBN) has reiterated the need to strategically position the Micro, Small and Medium Enterprises (MSMEs) to enhance the growth of the nation’s economy.