By Seun Ibiyemi The Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Bello Hassan, has called upon the Institute of Chartered Accountants of Nigeria (ICAN) to incorporate courses on the Deposit Insurance System (DIS) into its educational…
Amid global slowdown and political instability, growth in Sub-Saharan Africa (SSA) is expected to fall to 3.3 per cent this year from 4.0 per cent recorded in 2022. This is according to the latest International Monetary Fund (IMF), Regional Economic…
First City Monument Bank has unveiled a comprehensive suite of financial solutions aimed at supporting Nigerians in their wealth-building journey. The offerings span the entire wealth creation process, covering accumulation to preservation, including target and premium savings, wealth and investment…
By Sodiq Adelakun The Naira has plummeted to N1,025 per dollar in the parallel foreign exchange market due to a worsening scarcity of forex. Ahmed Gazali, a Bureau De Change operator, confirmed the situation and warned that it may worsen…
By Sodiq Adelakun Inflation will slow Nigeria’s economic growth to 2.9 percent in 2023, the International Monetary Fund has predicted. It also downgraded the country’s economic growth prospect by 0.3 percentage points to 2.9 per cent for 2023 following weaker…
By Sodiq Adelakun In a concerning development, the Nigerian naira on Tuesday has fallen to N1,010 per dollar on the black market, also known as the parallel segment of the foreign exchange market. This represents a 0.19 percent decline compared…
By Sodiq Adelakun The Nigerian Export Supervision Scheme (NESS) has recently seen the addition of three new banks appointed by the Central Bank of Nigeria (CBN) for fee collection purposes. The newly appointed banks are Coronation Merchant Bank Limited, Paralex…
By Sodiq Adelakun Nigeria has been grappling with a decline in foreign direct investments (FDI) due to ongoing issues such as insecurity and a difficult business environment. As a result, the country has increasingly turned to foreign borrowing to boost…
The Nigerian naira was trading at N1008/$ in the peer-to-peer market on Monday as traders assessed the forex market situation amidst the ongoing crisis in the Middle East. This comes after the naira closed at N770.41/$ on Friday in the…
The Central Bank of Nigeria (CBN) has denied claims made by the media that the launch of the eNaira is endangering the country’s financial stability. In a statement released on Monday in Abuja, Dr Isa AbdulMumin, the Director of Corporate…
