•Insists restrictions to safeguard Nigerians, financial system •Lists inherent risks •To block accounts with suspicious transactions •BDC operators, groups back Emefiele on transactions’ ban Obinna Chima in Lagos and Udora Orizu in Abuja The Central Bank of Nigeria (CBN) has opened investigations into bank accounts of companies involved in the …
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For over a year now, there has been a critical imbalance in the demand and supply of maize in Nigeria. The shortfall in supply of maize in the country has led to the price of a ton of maize shooting from N80, 000 in January 2020 to over the current …
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International Monetary Fund (IMF) has concluded that despite the $3.5 billion loan it gave Nigeria to cushion the effects of COVID-19 pandemic in April 2020, socio-economic conditions have worsened. In a report published, on Monday, on the Article IV Consultation for 2020, which ended on January 27, the Board noted …
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Scarcity of the Premium Motor Spirit (PMS) popularly known as petrol is imminent as depot owners were said to have shut down operations on Monday. Depot owners were shutting down operations with the excuse that they have no products. According to the Independent Petroleum Marketers Association of Nigeria (IPMAN) National …
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BUA, one of Africa’s largest conglomerates, has paid for 1 million doses of AstraZeneca COVID-19 vaccines for Nigeria through the AFREXIM Vaccine programme in partnership with CACOVID. These doses of the vaccine which should be delivered by next week, will be the first delivery of Vaccines to Nigeria since the …
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Twenty-six Nigerian states recorded zero foreign investment in the whole of 2020, figures released by the National Bureau of Statistics show. The report on capital importation into the country, compiled by the Central Bank of Nigeria, was released on Friday by the NBS. It captures the total Foreign Direct Investment …
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Cryptocurrency Ban: Every Medium Of Exchange Is Subject To Fraud And Criminality – Moghalu Former deputy governor of the Central Bank of Nigeria (CBN), Kingsley Moghalu has criticized the apex bank’s reason for stopping cryptocurrency transactions in the country, Newsextra24 reports. CBN had in a statement released on Sunday February …
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The Nigerian National Petroleum Corporation (NNPC) has announced a trading surplus of ₦13.43billion for the month of November 2020 up by 54% when compared to the ₦8.71billion surplus recorded in October 2020. This is contained in the November 2020 edition of the NNPC Monthly Financial and Operations Report (MFOR), according …
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The Pipelines Product Marketing Company (PPMC)- a subsidiary of the Nigerian National Petroleum Corporation (NNPC) raked in N2.015 trillion from the sales of Premium Motor Spirit (PMS) from November 2019 to November 2020. Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru that disclosed this in a statement on …
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The Central Bank of Nigeria (CBN) has reacted to condemnations trailing the directive to Deposit Money Banks (DMBs) to desist from transacting in cryptocurrencies. In a statement on Sunday, Osita Nwanisobi, Acting Director, Corporate Communications, clarified that that the CBN circular of February 5, 2021 did not place any new …
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