The Central Bank of Nigeria (CBN) says it plans to sell N218.89 billion worth of treasury bills on April 7. The CBN disclosed this in its treasury bills issuing calendar for second quarter of 2016. It said it would sell N55.40 billion worth of three-month tenored bills at the auction …
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ORGANISED Labour on Wednesday raised alarm that the food, beverage and tobacco sector of the nation’s economy was on the verge of shutting down and that over three million jobs were at risk due to the inability of companies to source foreign exchange for raw material importation to facilitate operations. …
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THE Asset Management Corporation of Nigeria, AMCON, Wednesday admitted before an investigative panel of the House of Representatives that its current liabilities stand at N6.6 trillion following purchase of bad loans worth N3.3 trillion at the sum of N1.7 trillion. This was disclosed by the Managing Director of AMCON, Ahmed …
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Billionaire business man and Chairman of Capital oil, Ifeanyi Ubah, has said if given the chance, he can make the dollar return back to N200 within one month. Ubah said this during an Interview with Channels TV on February 21st. He said : “Look at the position of the Naira …
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The two arms of the National Assembly, NASS, declared, yesterday, that the 2016 budget was full of errors, saying the document could no longer be passed on February 25 as earlier promised. This came on a day the Senate Committee on Gas Resources rejected the N200 million allocation demanded by …
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The Chief Executive Officer, Nigerian Stock Exchange, Mr. Oscar Onyema, has said the Nigerian capital market has lost over N5.97tn from July 2014 to date. He also said 2016 would be a challenging year for the capital market and the Nigerian economy at large. Onyema disclosed this at the NSE …
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Nigeria’s naira fell 1.5 percent to a new low of 265 to the dollar on the unofficial market on Wednesday after the central bank rationed dollar supplies this week, traders said. The bank cut the amount it sold to each of the 2,270 retail money exchange brokers that participated in …
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Less than two weeks after it sanctioned two major banks for flouting Federal Government directives on Treasury Single Account, the Central Bank of Nigeria (CBN) has imposed a fine of N4 billion on Skye Bank for concealing funds belonging to Ministries,Departments and Agencies (MDAs). In a circular from CBN, addressed to …
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The Central Bank of Nigeria (CBN) came down hard on the Financial Reporting Council of Nigeria (FRCN) saying the Council’s indictment of Stanbic IBTC Holdings Plc (SIBTCH) is baseless and lacking in merit. The CBN Governor, Godin Emefiele who registered the bank’s displeasure with the Council in a letter addressed …
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The Director,African Development Bank (ADB),Nigeria Country Office, Dr.Ousmane Dore has disclosed that the country lost $83.3 billion between 1960 to 2011 to Illicit financial flows. Dore said the lost was through the over invoicing of imports and under invoking of exports through the inability of the Federal Inland Revenue Service …
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