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 […]
Expert decries bank charges on returned cheques, says is illegal
Mr. Ori Adeyemo, a forensic accountant and crusader for streamlined bank charges, has decried bank charges on returned cheques and described the fee deducted from accounts in consequence of returned cheques as illegal.
New trading platform to help actualise transformation agenda – NSE
The Nigerian Stock Exchange (NSE)’s Chief Executive Officer, Mr. Oscar Onyema, has said that the exchange’s decision to upgrade its trading platform to NASDAQ X-STREAM was borne out of the need to hasten and actualise its set transformation agenda.
IGI: Why AGM was delayed for two years
The Industrial and General Insurance Plc, IGI, has explained that the inability of the company to convene its Annual General Meeting, AGM, in the last two years was as a result of its failure to harmonise the individual accounts of its numerous subsidiaries across the continent during the period.
Banks should relax collateral conditions – NACCIMA
Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, NACCIMA, has called on commercial banks in the country to relax their stringent conditions for collaterals from private sector applicants for their facilities to enhance the growth of businesses.
AP Moller’s N2.3bn investment revives Lilypond terminal
The investment of US$15 million (N2.3 billion) by the concessionaire of Lilypond Container Terminal (LCT), the A. P. Moller-Maersk (APMM) Group, has greatly improved the fortunes of the once moribund terminal.
