Money
7 Dec
The Nigeria Interbank Settlement System (NIBSS) has called for the disconnection of switching companies, payment solution service providers (PSSPs) and super agents (SAs) from the instant payment outwards system
6 Nov
Total inflows into the Nigerian Autonomous Foreign Exchange Market (NAFEM) declined by 6.2 per cent month-on-month (MoM) to $1.23 billion in October after it pivoted from a three-month high of $1.31 billion the preceding month.
20 Oct 2023
Worried about the continuous fall of the Naira against the dollar, the Association of Corporate Treasurers of Nigeria (ACTN) has called on the Federal Government to implement policies that would facilitate the convergence of Nigeria's official window and parallel market rates. According to them, the reason for the floating of the Naira was for the…
13 Oct 2023
.Dollar sustains upward swing as pressure on supply intensifies Nigeria’s currency, the Naira, is still under immense pressure as the Central Bank of Nigeria (CBN) continues to explore new mechanisms to address the forex challenge. The CBN Governor, Oluyemi Cardoso, in a policy document released in Abuja, said the apex bank is currently evaluating how…
10 Oct 2023
The Central Bank of Nigeria (CBN) has insisted that the adoption of the eNaira is not and never a threat to financial stability in the country. The apex bank said contrary insinuations that the adoption of the eNaira portends danger to financial inclusion; it explained that the country’s Central Bank Digital Currency (CBDC), the eNaira,…
4 Oct 2023
A Bitcoiner, Prince Akpah, has advocated the need for Africa to adopt the use of the digital currency to seal deals and finalise business transactions. According to him, it has been noted that if Bitcoin has to grow, it calls for more adoption, which is going to happen on the continent. He said that that…
3 Oct 2023
When I started as a 9-5 baddie, I tried to save a lot, but these corporate streets are not for the weak! From looking good, coming through for friends or family, and paying bills to live up to the corporate Gen Z hype, nothing comes cheap. I haven't even factored in food or the emergency…
6 Sep 2023
The Office of the Auditor General of the Federation (OAGF) has expressed concern over the lack of financial and administrative autonomy by subnational governments to effectively carry out performance audits of government programmes and activities. According to the office, performance audit requires specialised skills, hence the need for more funds to employ skilled personnel to…
28 Aug 2023
.As dollar continues to trade above N900/$ at black market FMDQ Securities Exchange has posted a total turnover of $417.9 million in its foreign exchange (FX) spot and derivatives market segment for the week ended August 25, 2023. The figure represents a decrease of 32.61 per cent ($202.2 million) from $620.1 million reported for the…
17 Aug 2023
About 48 hours after President Bola Tinubu and Acting Governor of the Central Bank of Nigeria (CBN), Folashodun Shonubi, held a crucial meeting on the state of the foreign exchange (FX) market, there is a breather for naira as it recorded a moderate gain trading at about N880/$ at the black market yesterday. Dollar spiked…
14 Aug 2023
Before the advent of Russia-Ukraine in February 2022, UBA had put in place a robust risk management framework to adapt to any emerging risk in all its countries of operations.
16 hours ago
The price of Liquefied Petroleum Gas (LPG), also known as cooking gas, has continued its upward swing rising by 7.1 per cent in the last month, thus making life more difficult for Nigerians who are struggling with food inflation.
16 hours ago
Various fibre cuts may have cost affected telecoms operators, especially MTN and Airtel, about N27 billion ($23 million) in repairs last year. To reduce the cost of the operations of the firms, the Federal Government through the Ministry of Works
17 hours ago
The Federal Government, through the Minister of Industry, Trade and Investment, Doris Uzoka-Anite, has announced the launch of N200 billion Presidential Intervention Fund for Micro, Small and Medium Scale Enterprises (MSMEs) and manufacturers in Nigeria.
17 hours ago
United Capital Plc, a leading Pan-African financial services group, convened its 11th Annual General Meeting yesterday at the Transcorp Hilton Hotel, Abuja, following another year of exceptional financial performance. Shareholders were delighted at the declarationof a dividend payout of N10.8 billion, equivalent to N1.80 per share. The meeting commenced with a statement by Prof. Chika…
18 hours ago
After a weekend of tension over the resignation of Dr Adesola Adeduntan, Olusegun Alebiosu has emerged as the Acting Managing Director/Chief Executive Officer of First Bank of Nigeria Limited (FirstBank Group)
18 hours ago
Just as it is with corporate goal setting, collaboration for effective performance involves integrating a system that gives employees the opportunity to engage or provide feedback.
19 hours ago
UBA America, a subsidiary of the pan-African financial giant United Bank for Africa (UBA) Plc, has reinforced commercial diplomacy among countries, institutions and individuals while fostering robust international collaborations.
19 hours ago
There is fresh hope among the Nigerian insurance industry players that the appointment of Olusegun Omosehin as the new Commissioner for Insurance/Chief Executive Officer of the National Insurance Commission (NAICOM) continues to generate interest in various segments of the industry.
1 day ago
The tasks of the Nigerian delegation to the just-concluded International Monetary Fund (IMF) and the World Bank Spring Meetings in Washington, United States, were well defined – sell Nigeria, seal economic pacts and market packages
1 day ago
Inflation will hit 34.98 per cent this month, analysts at Cordros Capital analysts have said.