Financial

The Special Adviser to President Muhammadu Buhari on Media and Publicity, Femi Adesina, has said that the regime does not borrow to consume but to invest in capital projects that will drive development. This is as he said that Nigeria’s…

The Central Bank of Nigeria says the e-naira that will soon be inaugurated on the first day in October 2021 is a legal tender equal to the value of the naira and thus must be accepted as a form of payment by all merchants and business…

The Monetary Policy Committee of the Central Bank of Nigeria has retained the Monetary Policy Rate at 11.5 per cent. The CBN Governor, Godwin Emefiele, disclosed this after the committee’s two-day meeting in Abuja on Thursday. It also…

The Federal Government has said that it will shut down the operations of Aboki FX, a website providing currency exchange information, which the bank described as an illegal and criminal platform. The Governor of the Central Bank of…

The Debt Management Office has reported a surplus of N1.92bn in two years, consisting of N538.4m in2018 and N1.31bn in 2019. Between 2018 and2019, DMO recorded a 144.1 per cent increase in profit. This was contained in the DMO’s 2019…

The Central Bank of Nigeria (CBN) has said that its soon to be launched digital currency, e-Naira, will strengthen the stability of the banking system as deposits become more diversified when more people are banked. The Central Bank…

The naira pared some of its recent gains against the dollar at the parallel market on Wednesday amid the lingering scarcity of the greenback in the country. The local currency fell to 515 against the dollar at the parallel market from…

The Central Bank of Nigeria has ordered the Deposit Money Banks to set up teller points at designated branches to provide forex to Nigerians. It said this in a circular to all banks titled, Re: Teller points at bank branches for the sale…

The Federal Government has said revenue generated from the gaming industry is disappointing, unsustainable, and unacceptable. It added that while the industry made billions in 2019, only N1bn made it to its coffers. Minister of Special…

The Federal Government has said that the COVID-19 pandemic has wiped off 20 per cent of the $25bn annual diaspora remittances to Nigeria. The government noted that various targeted programs were being implemented to shore up the deficit.…