…Nigeria implements key reforms to stabilise FX marke By Sodiq Adelakun Naira has continued in its upward trajectory, appreciating against the US dollar as it is currently selling at N1,280 on the parallel market, buoyed by recent foreign exchange (FX)…
The Central Bank of Nigeria has issued a new directive on the recapitalisation of the capital base of banks in the country raising the minimum capital base eightfold from the previous N25 billion. The move had been in the pipeline…
The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has raised apprehensions regarding the Central Bank of Nigeria’s decision to increase the Monetary Policy Rate (MPR) to 24.75 percent. The association, represented by its president, Dele Oye,…
According to the latest Company Income Tax (CIT) report released by the National Bureau of Statistics (NBS), tax payments from foreign companies operating in Nigeria have seen a significant decline of 45.3 percent within a span of three months. The…
In a strategic move to boost Nigeria’s small and medium-scale enterprises (SMEs) in adopting sustainable export practices, Sterling Bank Limited has joined forces with Export and Sell Nigeria Limited. The partnership manifested in a comprehensive four-day capacity-building boot camp, which…
Nigerian importers are experiencing a welcomed respite as the nation’s currency, the naira, continues to gain strength in both official and parallel markets. The Central Bank of Nigeria (CBN) has implemented further measures to support this trend by reducing the…
In response to growing investor demand for attractive yields, the Central Bank of Nigeria (CBN) has announced a significant increase in its benchmark interest rate. Following a two-day Monetary Policy Committee (MPC) meeting, the CBN Governor, Olayemi Cardoso, revealed that…
Financial experts have lauded the Federal Government for its effective monetary policies, which have contributed to the steady appreciation of the Naira against the dollar. The commendation comes in the wake of the Naira’s gradual appreciation following the recent Monetary…
Access Bank Plc has taken a significant step towards bolstering financial inclusion in Nigeria with the unveiling of its offline banking platform, 901.ng. Launched in collaboration with RemitPlus, a pioneer in offline banking solutions, the initiative aims to provide customers…
The Central Bank of Nigeria has issued a circular to Bureau De Change operators (BDCs), informing them that it has sold $10,000 to each BDC at a rate of N1,251 In a circular issued by the CBN, each BDC was…
