Banks begin five per cent contributions to SMEs
The five per cent banks contributions from their profit after tax, tagged Agriculture/SMEs Fund (AGSMEs Fund) has taken off.
Nigeria out of recession by end of June, says Emefiele
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, yesterday assured Nigerians that the country would get out of economic recession latest by the end of June this year based on emerging positive economic indicators to that effect.
BDCs, compliance efforts and naira travails
The ABCON President, Alhaji Aminu Gwadabe, in his opening remarks, said CBN was determined to raise liquidity in the forex market provided the BDCs operate within set guidelines.
N30tn Forex fraud: Senate vows to publish names of importers, banks
The Chairman, Senate Committee on Customs, Sen. Hope Uzodinma, made this known on the second day of meeting with representatives of all commercial banks, the Central Bank of Nigeria (CBN) and Ministry of Finance on Thursday.
Reps summon Magu, Emefiele, Baru over stolen $17bn oil money
The Chairman of the committee, Rep. Abdulrazak Namdas, summoned Magu on Monday in Abuja at the opening of the investigation where all the invited stakeholders sent their subordinates to represent the committee.
Insecurity: Where do we go from here?
Hardly can anyone deny the severity of the security challenges this country faces today, characterised by the new enterprise in town called kidnapping. The challenge of armed robbery which has been with us as part of the harvest of the civil war would not go away. Assassinations and cultism are the latter-day headaches in the…
CBN pegs N360 to one dollar at retail market
The Central Bank of Nigeria (CBN) yesterday approved an exchange rate of N360 to the United States dollar in line with its liberalisation policy for the retail segment unveiled five weeks ago. During the period, the apex bank committed nearly $2 billion in the foreign exchange...
USNC seeks partnership with Nigerian businessmen
The co-host of the launch dinner and co-chair of the Council, John Coumantaros, noted that the US Nigeria Council was formed to bring US and Nigerian businesses together in developing catalytic projects that will...
Parallel market rate falls to N378 as speculators lose more
At last, the Naira was exchanged at the parallel market yesterday at N378 to a dollar in over seven months, punishing more speculators, barely one month after the currency hit a record low of N520/$.