Category: Business
CBN Advances Forex Market With $195
The Central Bank of Nigeria (CBN) on Monday boosted the Foreign Exchange (FOREX) market by 195 million dollars intervention in three segments of the market. Mr Isaac...
CBN Approves $100m For Sale At SMIS – FOREX
The Central Bank of Nigeria (CBN) has approved the sale of $100 million at the Wholesale Secondary Market Intervention Sales (SMIS) auction announced on Monday, May 8,...
Naira Gradually Regaining Strength, As Demand For FOREX Maintains Decline
The continued decline in the volume of foreign exchange supplied to the retail market indicates that the naira is gradually strengthening against other international...
CBN Restricts Some Nigerian Banks From SME Wholesale FOREX Window
Following persistent complaints that some deposit money banks (DMBs) have deliberately frustrated efforts by many small and medium enterprises (SMEs) to access forex...
Citing Low Tax Regime, FG Approves New Policy
The federal government has approved a new national tax policy presented by the Minister of Finance, Kemi Adeosun. The new tax policy, which seeks to address the low tax...
WhatsApp, Viber, Others Adversely Affecting Our Business In Nigeria, MTN Laments
The Chief Executive Officer, CEO, of MTN Nigeria, Mr. Ferdinand Moolman, has disclosed that the activities of ‘over-the-top’ companies like WhatsApp, Viber have...
CBN Urges States To Establish Bank Of Industry
The Central Bank of Nigeria (CBN) has advised states without a Bank of Industry to facilitate the establishment of one in order to speed up industrialisation and other...
CBN Bars 9 Banks From Forex Transactions
The Central Bank of Nigeria, CBN, on Tuesday, suspended nine banks from further dealing in foreign exchange transactions, until they remit all outstanding Nigerian...
CBN Conducts Special Examination On Banks
In order to ascertain the actual well-being of banks owing to the nation’s macroeconomic challenges and rising non-performing loans (NPLs), the Central Bank of Nigeria...
Wuye Market Opens For Business After 3 Years
After about three years of legal muscle flexing, the Wuye Ultramodern Market in Abuja has finally opened for business, with traders who genuinely paid through due...
CBN Orders Banks To Stop Requesting Deposits Before Opening New Accounts
The Central Bank of Nigeria (CBN) has said bank customers can now open accounts without deposits. The directive is contained in the Monetary, Credit, Foreign Trade and...
FIRS Shuts AMG Petroleum Over N27m Tax Debt
In continuation of its tax enforcement exercise, the Federal Inland Revenue Service (FIRS), on Tuesday, sealed off the office of AMG Petroleum Energy Limited, located at...
