Nigeria’s external reserve rose by $5.15 billion in 2021 to close at $40.52 billion as of 31st December 2021, representing a 14.5% rise compared to $35.37 billion recorded as of the end of the previous year. This is according to…
By Seun Ibiyemi The Centre for the Promotion of Private Enterprise (CPPE), an economic and private sector think tank, has advised Chief Economic Adviser to correct current distortions bedeviling the foreign exchange market and Encourage a review of the Cash Reserve Requirement…
The Nigeria’s external reserve rose by $5.15billion in 2021 to close at $40.52billion as of 31st December 2021, representing a 14.5% rise compared to $35.37billion recorded as of the end of the previous year. This is according to data obtained…
By Seun Ibiyemi The Nigerian Government is to service its debt with N3.6trillion and also projected to earn N10.7trillion for the 2022 fiscal year. The Minister of Finance, Zainab Ahmed disclosed this on Tuesday at the public presentation and breakdown…
The Board of Directors of Wema Bank has been authorized to raise capital of up to N40billion by way of a rights issue to the existing shareholders of the Bank by issuing two new shares for every three shares held…
By Seun Ibiyemi The Association of Bureaux De Change Operators of Nigeria (ABCON), an umbrella body for over 5,3000 Central Bank of Nigeria (CBN)-licenced Bureaux De Change (BDCs) has advised the apex bank to de-risk BDCs operations to allow operators…
The Securities and Exchange Commission has reminded all fund managers that payment of the annual supervisory fee to the Commission becomes due from the 1st January 2022 and full payment must be made on or before 31st January 2022. This…
The Central Bank of Nigeria and others particularly the financial services regulators, would invest N1.54 trillion over five years to increase liquidity in the financial services sector. The government intends to boost the liquidity thresholds in each segment of the…
…BDC operators urge CBN to reconsider forex ban By Seun Ibiyemi The World Bank, Centre for the Promotion of Private Enterprise has projected that Nigeria may be among other countries whose inflation rates, foreign exchange market, debt service pressure is expected to persist…
Nigerian naira tumbled to N435 against the dollar at the official market on Friday. This is coming as the Central Bank of Nigeria (CBN) adjusted the country’s exchange rate on its website to N413.49/$1 — in what seems to be…
