archiveApril 2017

Calls for greater African and international collaboration on illicit financial flows to drive accelerated revenue growth and improved government efficiency. The Honourable Minister of Finance, Mrs Kemi Adeosun, is in Washington DC this week, attending the World Bank and IMF Spring Meetings. The Minister is participating in a range of...

Equities market on the Nigerian Stock Exchange (NSE) opened the week on the negative territory as the All-Share Index (NSE ASI) and the Market Capitalization decreased by 1.19%, while the year-to-date return stood at -6.20%, leaving investors with a loss of N105 billion. The All-Share Index closed at 25,207.07 against...

Britons will head to the polls on 8 June, three years ahead of schedule, Prime Minister Theresa May announced on Tuesday, saying it was the only way to guarantee political stability for years ahead as Britain negotiates its way out of the European Union. The pound strengthened by almost half...

As part of efforts at increasing foreign exchange liquidity and improve access by Small and Medium Enterprises (SMEs) and retail businesses, the Central Bank of Nigeria (CBN) has introduced the use of FORM X for the SMEs that require just basic documentation. The apex Bank spokesman, Isaac Okorafor, said that...

The Central Bank of Nigeria (CBN)plans to offer $100 million in currency forwards at an auction on Tuesday, to boost liquidity on the interbank market and support the naira, traders said, citing a memo from the CBN The dollar sale, for which settlement will be between one week and 45...

Unity Bank Plc is in serious crisis over N369 billion bad loans and continuous dwindling profits. The struggling bank had in 2015 reported a N241 billion bad loans over deterioration in asset quality as capital adequacy ratio dip by negative 46.98 per cent in 2016 from 21.46 per cent in...

Ecobank Transnational Incorporated has announced a loss after tax of N52.6 billion in 2016 from N21.52 billion reported in 2015 The financial institution announced a 23 per cent increase in gross earnings to N665 billion in financial year ended December 2016 from N542.7 billion recorded in 2015 following operating profit...

The Central Bank of Nigeria (CBN) has disclosed that value of electronic transaction in the banking sector crossed the N40 trillion threshold to N40.5 trillion in 2016 to reflect the growing public confidence in the system as a result of the convenience of electronic transactions and sensitization. The Financial System...

The nation’s foreign reserves appreciated by $119 million in nine days, data collected from Central Bank of Nigeria (CBN) website has shown. Foreign reserves continued to increase in March amid increase in global oil prices in combination with the inflows from the International Money Transfer Operations (IMTOs) According to the...

The Nigeria Extractive Industries Transparency Initiative (NEITI) has urged the Federal Government to revisit oil assets transfer by Nigerian National Petroleum Corporation (NNPC) to its subsidiary, Nigeria Petroleum Development Company (NPDC). Executive Secretary of NEITI, Mr Waziri Adio, made the call in a statement by the agency’s Director, Communications, Dr...