archiveMarch 31, 2017

The Federal Ministry of Finance said its attention has been drawn to a story in The Punch newspaper of Tuesday, March 28, 2017 entitled, “Probe Uncovers Massive Fraud in YouWin Programme.” The Ministry in a press statement signed Salisu Na’inna Dambatta, Director of Information explained that it would be recalled...

...Offers $100m for wholesales forwards As part of efforts at sustaining liquidity in the foreign exchange market, the Central Bank of Nigeria CBN) will, from Monday, April 3, 2017, commence twice weekly FOREX sales to licensed Bureaux de Change (BDCs) in the country. According to a press statement by the...

MTN has made a payment of N30 billion ($98 million) to the Federal Government of Nigerian in part settlement of an N330 billion fine imposed on the telecoms group for not disconnecting unregistered SIM cards, an MTN source told Reuters on Thursday. Africa’s largest telecoms company has already paid 80...

A Nigerian pilot has become the first African to fly solo across the world, Nigeria’s privately owned daily newspaper, The Punch, reports . Ademilola “Lola” Odujinrin, 38, a Boeing 737 pilot with Air Djibouti, spent just over eight months to complete the historic feat, flying a single-engine light aircraft across...

The International Monetary Fund (IMF) has urged the Federal Government to lift the remaining foreign exchange restrictions and scrap the system of multiple exchange rates in order to revive the nation’s economy. The member of the World Bank Group gave the recommendation on Thursday came in its regular assessment of...