£2.55bn fraud: Court remands 4 directors of Petro Union Oil
A Federal High Court in Lagos on Thursday ordered the remand of four directors of Petrol Union Oil and Gas Company Ltd., over alleged 2.556 billion pounds fraud. The defendants are: Abayomi Kukoyi; Prince Kingsley Okpala, Prince Chidi Okpalaeze and Prince Emmanuel Okpalaeze. Justice Mohammed Liman ordered the remand of the defendants at a custodial […]
Banking sector gross credit increased by N2.7tr – CBN
The Governor of the Central Bank of Nigeria, Godwin Emefiele, said on Friday the banking sector gross credit has grown by N2.7trillion in seven months. Emefiele disclosed this while briefing journalists on the outcome of the Monetary Policy Committee (MPC) meeting held in Abuja. He said the gross credit in the industry grew by N2trillion […]
CBN raises Cash Reserve Ratio to 27.5%
Emma Ujah – Abuja The Central Bank of Nigeria has raised the Cash Reserve Ratio from 22.5 per cent to 27.5 per cent. Briefing the press after the first Monetary Policy Committee (MPC) meeting in 2020 held in Abuja, the CBN Governor, Mr Godwin Emefiele, said that all other parameters were retained. Accordingly, the Monetary […]
CBN redeploys Yila from NIRSAL MFB to DFD
Emma Ujah – Abuja The Central Bank of Nigeria (CBN) has redeployed Mr Yusuf Philip Yila, the Managing Director, NIRSAL Microfinance Bank (NMFB), as Director, Development Finance Department. The redeployment of Mr Yila who was the Director of CBN before his appointment as MD, NIRSAL Microfinance Bank takes effect from today. Yila succeeds Dr. Mudashiru […]
CBN partners with Cotton association to resuscitate CTG sector
The National Cotton Association of Nigeria(NACOTAN), says it will partner with the Central Bank of Nigeria(CBN), to quickens the Federal Government’s effort in resuscitating the Cotton Textile and Garment (CTG) sector. Mr. Anibe Achimugu, the National President of the association made this known in an interview with the News Agency of Nigeria (NAN) on Friday […]
We are probing alleged refusal by CBN to remit Stamp Duties to the tune of N20 trillion – Senate
THE Senate is at the moment investigating reported cases of alleged failure by the Central Bank of Nigeria, CBN to remit stamp duties totaling over N20 trillion to the Federation Account.
