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The Central Bank of Nigeria and Financial Reporting Council of Nigeria sanctioned four commercial banks between January and June for various infractions, our correspondent has learnt. It was learnt that the apex bank imposed a number of sanctions on the banks for failure to comply with its Know-Your-Customers guidelines and in the anti-money laundering requirement.…
September 24, 2019
Nigeria’s federally collected revenue (gross) stood at N931.93 billion in July, representing a 22.6 per cent increase compared with the N760.08 billion recorded in June, the Central Bank of Nigeria (CBN) has revealed. However, the amount realised in the month under review, was lower than the provisional monthly budget estimate of N1.107 trillion by 15.8…
September 9, 2019
Consumer Awareness and Financial Enlightenment Initiative (CAFEi), has urged the Central Bank of Nigeria (CBN) to extend deadline for the exchange of multilated naira notes by another four months. Otunba ‘Debola Osibogun, CAFEi President, said in Lagos on Sunday that extension of the deadline would give room for more people to key into the intiative.…
September 2, 2019
Guaranty Trust Bank plc has released its audited financial results for the half year ended June 30, 2019 to the Nigerian and London Stock Exchanges. The half year result shows positive growth across key financial metrics and reflects GTBank’s leading position as one of the best managed financial institutions in Africa. The Bank reported a…
August 17, 2019
On Wall Street, US stocks recovered from heavy losses earlier in the day sparked by fears about the trade war and the global economy Stock markets and currency exchanges endured mixed fortunes as concerns about the global economy continued to gather pace. Apart from the ongoing tensions between the US and China, which escalated earlier this week from trade…
August 8, 2019
The Central Bank of Nigeria (CBN), said more than one million smallholders farmers had access to finance through its Anchor Borrowers Programme. Emefiele said this while reeling out the policy road map for his second tenure of five years in Abuja on Monday. He explained that the bank made serious efforts to improve cultivation of…
June 24, 2019
The Federal Inland Revenue Service ((FIRS) generated N1.5 trillion revenue in the first quarter (Q1) of 2019, according to its Chairman, Mr Babatunde Fowler. Fowler disclosed this to the News Agency of Nigeria (NAN) in New York at the weekend. He said the amount included revenue from non-oil taxes that were 11 per cent higher…
May 18, 2019
Amid increase in the global oil prices to above $73 per barrel, the Nigerian external reserves under the care of the Central Bank of Nigeria (CBN), has increased to $44.787 billion as of April 25, 2019. At the close of last week trading activities on Friday, the foreign exchange buffer stood at $44.787 billion against…
April 29, 2019
The International Monetary Fund (IMF) has ranked Nigeria as the second worst country in the world in the use of sovereign wealth funds. According to the Fiscal Monitor report released on Wednesday, Qatar was the only country worse than Nigeria on the index. The Bretton Wood institution said the index was compiled using the corporate…
April 11, 2019
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The Central Bank of Nigeria and Financial Reporting Council of Nigeria sanctioned four commercial banks between January and June for various infractions, our correspondent has learnt. It was learnt that the apex bank imposed a number of sanctions on the banks for failure to comply with its Know-Your-Customers guidelines and in the anti-money laundering requirement.…
September 24, 2019
Nigeria’s federally collected revenue (gross) stood at N931.93 billion in July, representing a 22.6 per cent increase compared with the N760.08 billion recorded in June, the Central Bank of Nigeria (CBN) has revealed. However, the amount realised in the month under review, was lower than the provisional monthly budget estimate of N1.107 trillion by 15.8…
September 9, 2019
Consumer Awareness and Financial Enlightenment Initiative (CAFEi), has urged the Central Bank of Nigeria (CBN) to extend deadline for the exchange of multilated naira notes by another four months. Otunba ‘Debola Osibogun, CAFEi President, said in Lagos on Sunday that extension of the deadline would give room for more people to key into the intiative.…
September 2, 2019
Guaranty Trust Bank plc has released its audited financial results for the half year ended June 30, 2019 to the Nigerian and London Stock Exchanges. The half year result shows positive growth across key financial metrics and reflects GTBank’s leading position as one of the best managed financial institutions in Africa. The Bank reported a…
August 17, 2019
On Wall Street, US stocks recovered from heavy losses earlier in the day sparked by fears about the trade war and the global economy Stock markets and currency exchanges endured mixed fortunes as concerns about the global economy continued to gather pace. Apart from the ongoing tensions between the US and China, which escalated earlier this week from trade…
August 8, 2019
The Central Bank of Nigeria (CBN), said more than one million smallholders farmers had access to finance through its Anchor Borrowers Programme. Emefiele said this while reeling out the policy road map for his second tenure of five years in Abuja on Monday. He explained that the bank made serious efforts to improve cultivation of…
June 24, 2019
The Federal Inland Revenue Service ((FIRS) generated N1.5 trillion revenue in the first quarter (Q1) of 2019, according to its Chairman, Mr Babatunde Fowler. Fowler disclosed this to the News Agency of Nigeria (NAN) in New York at the weekend. He said the amount included revenue from non-oil taxes that were 11 per cent higher…
May 18, 2019
Amid increase in the global oil prices to above $73 per barrel, the Nigerian external reserves under the care of the Central Bank of Nigeria (CBN), has increased to $44.787 billion as of April 25, 2019. At the close of last week trading activities on Friday, the foreign exchange buffer stood at $44.787 billion against…
April 29, 2019
The International Monetary Fund (IMF) has ranked Nigeria as the second worst country in the world in the use of sovereign wealth funds. According to the Fiscal Monitor report released on Wednesday, Qatar was the only country worse than Nigeria on the index. The Bretton Wood institution said the index was compiled using the corporate…
April 11, 2019
