archiveMay 2018

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has maintained  status quo for the tenth consecutive session. At the end of its 261st meeting (second this year), eight committee members voted to retain  monetary Policy Rate (MPR) at 14 per cent; Cash Reserves Ratio (CRR) at...

  Over the alleged involvement in N11 billion fraud, the Managing Director, eTranzact International Plc, Mr. Valentine Obi has stepped down and hand over the affairs of the company to its Chief Financial Officer (CFO), Mr. Niyi Toluwalope. It was report on Tuesday that the Central Bank of Nigeria (CBN)...

  President Muhammadu Buhari said on Tuesday that the implementation of the Treasury Single Account (TSA) had stopped the pilfering of the country’s treasury with billions of naira saved from maintenance fees payable to banks. The president stated this in Abuja at the 17th National Productivity Day and conferment of...

  The Lagos Chamber of Commerce and Industry (LCCI) has stressed the need to improve the nation’s business environment to enhance the contributions of various sectors to the Gross Domestic Product (GDP). Mr Muda Yusuf, Director-General of LCCI, said this in an interview with the News Agency of Nigeria (NAN)...

    The Christian Association of Nigeria (CAN) has advised President Muhammadu Buhari to suspends his re-election bid until he finds solutons to the killings in the country. CAN said this on Tuesday while commiserating with the Catholic Secretariat of Nigeria (CSN) as it conducts mass burial for the two...

  There appears to be no end in sight for the Nigeria’s electricity crisis as a system adequacy report submitted by the Transmission Company of Nigeria (TCN) to the Nigerian Electricity Regulatory Commission (NERC) has indicated that Nigeria would continue to suffer from severe grid electricity shortage in the next...

President Muhammadu Buhari on Tuesday tackled theformer President Olusegun Obasanjo for spending $16 billion on power projects during his tenure, without corresponding power supply to Nigerians. Buhari did not specifically mentioned Obasanjo, but said “a former Nigerian leader” was bragging at a time that his administration spent the amount on...

  Retains Cash Reserves Ratio at 22.5%   The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday left the Monetary Policy Rate (MPR) unchanged at 14 per cent. The CBN Governor, Mr Godwin Emefiele, announced the decision of the committee at the end of a...

  The International Monetary Fund on Monday expressed concern over Nigeria’s capacity to repay its debts and stressed the need for the Federal Government to mobilise more revenues domestically. The Washington-based fund, at the public presentation of the Spring 2018 Issue of the Regional Economic Outlook for Sub-Saharan Africa, said...

UBA Tanzania, a subsidiary of the UBA Group, a pan African financial institution, Monday restated its commitment to support the Tanzanian government’s initiative to grow the country’s infrastructure, while also affirming the bank’s obligation to deepen the retail banking space in the country. The assurance was given during a press...