N19.3bn bailout: Activist to sue EFCC, Yahaya Bello, others
By Arogbonlo Israel A renowned activist, blogger and politician of Kogi extraction, popularly known as Usman Okai has vowed to sue the Economic and Financial Crimes Commission (EFCC), Kogi State Governor, Yahaya Bello, among others over unsubstantiated allegations that the State Government fixed N19.3 billion bailout funds received from the Federal Government. The activist, who […]
CBN says no plan to convert domiciliary accounts to Naira over forex
The Central Bank of Nigeria, CBN, has said it had no plans to convert foreign currencies in the domiciliary accounts of bank customers to Naira.
CBN reiterates penalty for banks’ indulgence in FX malpractices
The Central Bank of Nigeria, CBN, has reiterated that the FX operating license of any bank or banks that are found guilty of ongoing investigations in foreign exchange malpractices would be suspended for at least a year.
CBN gets set for eNaira, more measures put in place
By Emeka Anaeto, Business Editor There are indications that the Central Bank of Nigeria, CBN, is almost ready to usher in a new level of financial transaction experience in Nigeria called eNaira. Last week the apex bank announced the formal engagement of the global Fintech company, Bitt Inc., as the Technical Partner for its digital […]
Banks hint of criminal prosecution of customers over forex offences
By Emma Ujah At the backdrop of a directive from the Central Bank of Nigeria (CBN) to publish names of customers who circumvent the new foreign exchange (forex) guideline, commercial banks have rolled out a penalty regime against contraventions of the guideline. The CBN directive to the banks was specific on offences bordering on customers […]
CBN: Manpower devt & economic growth
The quantity and quality of goods and services produced by a nation are greatly determined by its human resources. The fact that humans initiate and coordinate production activities, makes them the most important factor that can affect the economy.
