Susceptible to critique, accomplished banker-cum-administrator Bismarck Rewane was on Channels Television recently to analyse how the Central Bank of Nigeria’s Monetary Policy Committee hiked the Monetary Policy Rate (MPR) from 18.75 percent to 22.5 percent (400 basis points) will affect Nigerians. Elaborating on what he termed the audacity of the …
Read More »Buhari, ex-SGF’s signatures forged to move $6.2m from CBN -Forensic expert
A forensic document examiner seconded to the Economic and Financial Crimes Commission, Bamaiyi Haruna on Thursday said the analysis conducted on the documents used to release $6.2m from the Central Bank of Nigeria in February 2023 showed that they were forged. The EFCC had alleged that on February 8, 2023, …
Read More »Catalyzing Digital Innovation: African Development Bank commits $80 million to Ekiti Knowledge Zone Project in Nigeria
In the heart of Nigeria’s Ekiti State, a groundbreaking initiative is taking shape – the Ekiti Knowledge Zone (EKZ), a bold step to transform the region into a hub for digital innovation and knowledge economy. The African Development Bank has committed $80 million in loan financing for this state-led pioneering …
Read More »Wigwe: Board’ll announce acting CEO soon -Access Holdings
The board of Access Holdings Plc said an acting Group Chief Executive Officer will be announced soon to replace its late CEO, Herbert Wigwe.The company, in a statement signed by the Group Company Secretary, Sunday Ekwochi on Sunday, confirmed Wigwe’s death, as well as his wife and son in an …
Read More »NNPCL, CBN Set Limit For Oil Revenue Management
The Nigerian National Petroleum Company (NNPC) Limited have collaborated with the Central Bank of Nigeria (CBN) to set limits for the management of the oil firm’s revenue. The limit was set following a meeting between the CBN Governor, Olayemi Cardoso and the NNPCL Group Chief Executive Officer, Mele Kyari, in …
Read More »In eight months of Tinubu administration, Nigeria’s stock market leads the world- by Bayo Onanuga
The Nigerian economy is looking good in some sectors. This is not a harebrained assessment, despite the high inflation and the unstable exchange rate of the Naira. Those who doubt this don’t need to look far, for a reality check. The economic boom is happening at the Nigerian Exchange, where …
Read More »Nigeria may have to borrow to service debt in 2025 — Economist
Chief Economist, Senior partner at SPM Professionals, Paul Alaje said Nigeria may have to borrow to service debt in 2025 if the federal government does not take serious precautionary measures. Alaje stated this during an interview with Arise Television on Monday. He said, “You look at the debt profile today …
Read More »African Development Bank Group’s international staff to leave Ethiopia over serious diplomatic incident
The African Development Bank has decided to withdraw all its international staff from Ethiopia immediately. The office will remain open under an Officer-in-Charge. These measures will not affect nationally recruited staff from Ethiopia who will continue their work and remain in the full employment of the Bank. The Bank will …
Read More »ASSBIFI identifies those behind Naira scarcity
The Association of Senior Staff of Banks, Insurance and Financial Institutions, ASSBIFI, has blamed panic withdrawals by bank customers, and activities of ignorant and unscrupulous persons hoarding the Naira Notes for unethical gains for the unending cash crunch across the country. In a statement titled “Scarcity of Naira notes”, President …
Read More »Ogun CIBN boss asks banks to prevent fraudulent transactions
The Chartered Institute of Bankers of Nigeria has advised the Central Bank of Nigeria to implement policies that will effectively curb fraudulent transactions within the banking industry. The institute also urged financial institutions to prioritise cyber security measures to safeguard their websites and protect customer information. The Ogun State Chairman …
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