A Nigerian newspaper and Online version of the Vanguard, a daily publication in Nigeria covering Nigeria news, Niger delta, general national news, politics, business, energy, sports, entertainment, fashion,lifestyle human interest stories, etc
This is contained in a warning circular by Dr Ozoemena Nnaji, CBN’s Director, Trade and Exchange Department made available to News Agency of Nigeria (NAN) on Wednesday. Nnaji advised that strict compliance with those regulations had become mandatory to improve the Nigerian export sector. “The CBN has observed with dismay, the noncompliance by shipping and
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The Economic and Financial Crimes Commission (EFCC) says it recorded 646 convictions and recovered more than N11 billion in monetary assets this year, despite the restriction imposed by the Covid-19 pandemic. The Acting Chairman of the EFCC, Mr Umar Abba, disclosed this while addressing the Senate Committee on Anti-Corruption and Financial Crimes in Abuja on
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…Says exchange rate benchmark unrealistic By Michael Eboh Professor of Finance and Capital Market of the Nasarawa State University, Keffi, Uche Uwaleke, has faulted the Federal Government’s allocation of about N2 trillion for capital expenditure in the 2021 budget, describing it as worrisome. In his reaction to Federal Executive Council’s, FEC, approval of the budget
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The Federal Government has sworn-in Mr Azi Isaac as Chairman and Mr Nosa Osemwengie as member of the Investments and Securities Tribunal (IST). Mr Yunusa Abdullahi, Special Adviser, Media and Communications to the Minister of Finance, Budget and National Planning made this known in a statement on Thursday in Abuja. Isaac was appointed for the
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An official in the Ministry of Finance has said any system that does not have natural capital accounting is failing even if GDP is growing.
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Tesla shed about US$80-billion of its market value on Tuesday, an amount that overshadows the combined value of General Motors and Ford, after its surprise exclusion from the S&P 500 Index. Tesla’s shares recorded their worst single-day percentage drop ever and added to the broader sell-off in technology stocks, which have dominated Wall Street’s recovery
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Trading on the Nigerian Stock Exchange (NSE) maintained negative mood on Tuesday with the All-Share Index losing 0.33 percent, amid sell pressure in banking equities. Specifically, the NSE All-Share which opened at 25,582.23 lost 84.91 points or 0.33 percent to close at 25,497.32. Similarly, the market capitalisation shed N44 billion or 0.33 percent to close
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Tesla on Tuesday revealed plans to take advantage of its meteoric stock rise by raising up to $5 billion through a program to sell more shares of the popular electric vehicle company. Wall Street’s main brokerages, including Goldman Sachs, Bank of America and Morgan Stanley, will serve as sales agents for the stock selling program,
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By Babajide Komolafe The Central Bank of Nigeria (CBN) has ordered banks to henceforth pay 10% of it’s Monetary Policy Rate (MPR) as the minimum interest rate on savings deposit. The MPR is the benchmark interest rate of the CBN and it is presently 12.5 per cent. This implies bank customers will now get 1.25
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•Deploys $3.95bn to BDCs, others •Discovers N365m deposit shortages in 21 banks By Elizabeth Adegbesan THE Central Bank of Nigeria, CBN, said it spent N75 billion to print banknotes in 2019. This represents N11.5 billion or 18 percent increase when compared to N64 billion spent in 2018. The apex bank also deployed $3.95 billion to
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