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Money and Capital market
Naira official rate falls 1,531/$ below street value
Maureen Aguta
Nigeria's naira dropped to a record low against the dollar on the official market on Tuesday, FMDQ Exchange data showed on Wednesday, slipping below rates on the unofficial parallel market in intra-day…
Naira records biggest fall in official market, depreciates to N1348/$
Maureen Aguta
In apparent reflection of the dollar scarcity plaguing the economy, the Naira on Monday recorded its biggest fall in the official Nigerian Foreign Exchange Market (NAFEM) where it depreciated by 24 per cent…
Nigeria clears $2bn forex backlog of 14 banks, pays airlines
Maureen Aguta
The Central Bank of Nigeria (CBN) said it had cleared the foreign-exchange backlogs of 14 banks and begun settlements with international airlines.
In a statement Wednesday it said that it had paid…
Over 1533 staff to be affected in plan to relocate key CBN depts to Lagos
Maureen Aguta
There is disquiet in the Central Bank of Nigeria (CBN), over plan by the new management to relocate major departments from the Abuja headquarters to the former headquarters in Lagos.
Advocacy Times…
CBN appoints new executives for Union, Keystone, Polaris banks
Maureen Aguta
Hours after dissolving the board of directors and management of Polaris, Union, and Keystone banks, the Central Bank of Nigeria has appointed new executive directors to run the affairs of the deposit money…
CBN dissolves boards, managements of Union, Keystone, Polaris banks
Maureen Aguta
The Central Bank of Nigeria (CBN), has dissolved the Boards and Managements of Union Bank, Keystone Bank, and Polaris Bank.
The apex bank in a statement on Tuesday disclosed that this action became…
Bettagate: EFCC widens net, arrests Zenith, Providus, Jaiz CEOs
Maureen Aguta
Three Chief Executive Officers (CEOs) of Nigeria’s prominent banks – Zenith, Providus, and Jaiz, are currently sweating it out in the office of the Economic and Financial Crimes Commission (EFCC), where they…
Naira scarcity persist as banks ration cash across the counter
Fresh developments in the financial sector have shown that despite the Central Bank of Nigeria (CBN’s) move to ameliorate the cash crunch situation by suspending charges for cash withdrawals above regulatory limits, scarcity of…
Obazee report exposes how UBA diverted N3.9bn NSEI funds
Maureen Aguta
Among other revelations made by Jim Obazee, the CBN Special Investigator, in his report on the activities of the Central Bank of Nigeria under its former governor, Godwin Emefiele; was how the Tony…
CBN: Northern forum questions Obazee’s integrity, cautions Tinubu
Maureen Aguta
The Concerned Northern Forum has cautioned President Bola Tinubu over the use of the report before him submitted by Jim Obazee, the special investigator hired to check the activities of the country’s apex…