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The African Development Bank (AfDB) said on Thursday that it had approved five million dollars Line of Credit (LoC) to ABN Microfinance Bank Nigeria (ABN) to...
Nigeria Interbank Settlement System (NIBSS) said that electronic payment through Point of Sale (PoS) terminals has risen by 191 percent to N241 billion in 2014. The...
The Federal Government has ordered automation of all agencies in the maritime sector of the economy as a way of controlling the entry of unwanted products...
Crude oil prices extended their losses and sunk to fresh four-year lows late last week as expectations of a cut in OPEC oil production faded following...
—naira devaluation to curb banks’ Eurobond desire —Russia rubble suffers 1.2% fall —10% depreciation in Kazakhstan’s tenge — Malaysia’s ringgit hit five-year lows Crude oil price...
The Central Bank of Nigeria (CBN) said that it would withdraw N500 billion from the banking system through the recent increase in the cash reserve requirement...
Asset Management Corporation of Nigeria (“AMCON”) said that it has successfully completed the sale of the entire issued and fully paid up ordinary shares of Enterprise...
The pressure on the naira at the foreign exchange market might continue to mount and see further depreciation in value of the naira this year. The...
The Central Bank of Nigeria (CBN) said it would soon commence comprehensive review of electronic payment guidelines in the country. Deputy Governor, Operations Directorate, Central Bank...
–$73 crude benchmark, too optimistic —falling oil prices not responsible for deteriorating economy —Expect tough times ahead —Nigeria has done many things wrong in the last...
—raised lending rate to 13 per cent —increased private sector cash reserved to 20% —Retain public sector cash reserve at 75% The Central Bank of Nigeria...
Foreign investors sold off Nigerian stocks valued at 101.2 billion naira ($583.6 million) in October after a drop in the oil price and the local naira...
The Minister of State for Finance, Mr Bashir Yuguda, on Tuesday announced that federal, states and local governments had shared N593.33 billion revenue that accrued to...
Two Nigerians, Tony Elumelu and Orji Uzor Kalu, along with four other Africans have joined Forbes list of 50 richest people in Africa. According to Forbes,...
The declining fortunes of the naira continued as it suffered 182 kobo depreciation at the foreign exchange auction conducted by the Central Bank of Nigeria (CBN)....