CBN unveils new FX guidelines, approves cash movement of $50,000
By Emma Ujah, Abuja Bureau Chief The Central Bank of Nigeria (CBN) has issued fresh Foreign Exchange Guidelines which provides that an individual can move cash of up to $50,000, but must be declared at the point of exit. The bank also retained the earlier provision for the movement or import of cash of up to […]
Shareholder associations and the rest of us
Shareholding in Nigeria has grown from a few thousand people in the early 70s to an estimated 10 million. The privatization program has had tremendous impact on share ownership. Between 1989 and 2005, 40 government-owned companies were privatized.
ValuCard gets CBN license on PTSP
ValuCard Nigeria Limited has been granted license by the Central Bank of Nigeria, CBN, to operate as Payment Terminal Service Provider, PTSP in Nigeria.
IMF warns of threat to global banking system
The International Monetary Fund has warned that the global financial system is more vulnerable now than at any time since the 2008 financial crisis.
Fashola to meet OPS on infrastructure development
Lagos State Governor, Mr. Babatunde Raji Fashola is to meet with the Organised Private Sector (OPS) to deliberate on how to attract capital for development of infrastructure in the state.
Industrialists seek adequate funding of SON
Industrialists in the country are urging the Federal Government to adequately fund the operations of Standards Organisation of Nigeria (SON) to enable the agency discharge its effectively responsibilities.
ACCA launches 10 new forums
BY NNENNA EZEAH The Association of Chartered Certified Accountants, ACCA, has launched ten new global forums to further the thinking on current and future issues in a number of specific technical subject areas in the accountancy and finance profession. ACCA in a statement made available to Vanguard, said the forums, which was launched a couple […]
PenCom plans flexible investment regulation
The National Pension Commission, PenCom, said that it will adopt a flexible investment regulation for Pension Funds Administrators in the country, allowing them to invest in a wide range of investment outlets in the years ahead.
PenCom rues over non-remittance of pension funds
National Pension Commission,PenCom, has said it is taking some drastic steps to recover un-remitted pension funds from defaulting organizations, lamenting that one of the greatest challenges facing the Contributory Pension Scheme, CPS, in Nigeria is non-remittance of deducted funds by private sector organizations.
Expand port facilities, former NNSL boss urges
FORMER Managing Director of the of the defunct Nigerian National Shipping Lines (NNSL), Mr Gerald Chidi, has warned that if adequate preparation are not made to expand the current port facilities, the current trend of cargo throughput could lead to an explosion of import.
Banks’ merger: Prospects for shareholders, economy
Ahead of the Court Ordered Extra Ordinary General Meeting (EGM) slated next week for the proposed banks’ merger, there have been concerns among stakeholders in the industry as per the benefits to shareholders and the economy in general. The ongoing Nigerian banking industry reform necessitated for the banks’ merger as a means of meeting the minimum N25 billion capital base required by the apex regulator, Central Bank of Nigeria (CBN).
