Tuesday, September 08, 2020
Leaders in Nigeria’s private sector have risen against a controversial bill that aims to give the Central Bank of Nigeria (CBN) governor more powers, including immunity from third-party lawsuits. The Bill, which has been passed by the National Assembly but awaits the President’s assent to become law, will replace the Banking and Other Financial Institutions…read more.
Nigeria’s central bank resumed dollar sales to Bureau De Change (BDC) operators on Monday, selling $51.8 million to 5,180 BDCs across the country. But this dollar allocation could not strengthen the value of naira, which as at 1.41pm on Monday had depreciated by an average rate of N4.33k…read more.
In its Revised Legislative Agenda, the House of Representatives has indicated plans to initiate an amendment of the 2007 Fiscal Responsibility Act (FRA) to require revenue generating agencies deposit at least 80 percent of their revenues into the Consolidated Revenue Funds (CRF)…read more.
The implementation of a new tariff by the electricity distribution companies (DisCos) across Nigeria, has stoked a controversy with the operators, as consumers refuse to accept the increment, calling for its reversal…read more.
The Country Director, Korea International Cooperation Agency in Nigeria, Woochan Chang, has tasked the Federal Government to proactively implement the National eGovernment Master Plan, to ensure digital transformation of the Nigerian economy…read more.
As Nigeria focuses more on the Solid Minerals sector for economic growth and diversification, the need to ensure that all protocols guiding the exploitation of the natural resources are observed is paramount…read more.
The outbreak of COVID-19 has increased food insecurity in Lagos, Kano, Rivers and Abuja, the National Bureau of Statistics has said. It disclosed this in its latest report on the impact of COVID-19 in Kano, Lagos, Rivers and the Federal Capital Territory, obtained from the NBS on Monday…read more.
The Federal Government’s removal of petrol subsidy and the increase in electricity tariff are in line with reforms being sought by the International Monetary Fund and the World Bank, economic experts have said…read more.
The non-remittance of revenue by most ministries, departments and agencies of government to the Consolidated Revenue Funds of the Federal Government is currently N1.2tn, the Fiscal Responsibility Commission said on Monday…read more.
About 5,180 Bureau De Change operators got $10,000 each as the Central Bank of Nigeria fully resumed foreign exchange sales to the operators on Monday. The CBN had earlier announced it would commence sales of foreign exchange to BDCs on Monday as part of efforts to enhance accessibility to foreign exchange…read more.
Access Bank Plc has appointed Mr. Hassan Usman, as an independent non-executive director of the bank following the approval of the Central Bank of Nigeria (CBN). Usman is the Founder/Chief Executive Officer of New Frontier Development Limited, an investment company focused…read more.
The Chief Executive Officer, FMDQ Group, Mr. Bola Onadele.Koko, has stated that infrastructure development is critical for economic growth, reduced poverty, job creation as well as improving the wellbeing of the citizenry…read more.
Union Bank of Nigeria Plc said it has delivered on its promise to support charitable organisations with a portion of proceeds from the UnionBetta savings product….read more.
Union Bank of Nigeria Plc said it has delivered on its promise to support charitable organisations with a portion of proceeds from the UnionBetta savings product…read more.
The volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the Nigerian foreign exchange market fell by 10 percent, month-on-month, to $843.97 million last month from $937.27 million in July, 2020…read more.
There are indications that stability is returning to the foreign exchange market as the value of the Naira appreciates in the parallel market. The exchange rate at the Investors & Exporters (I&E) window …read more.
The Federal Government has said that it has secured $6.15 billion for infrastructural development in the power sector. ADVERTISING Minister of Power, Engr. Sale Mamman, who disclosed this in his report – One Year Anniversary: Key achievements…read more.