Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, yesterday said the country will be completely out of recession in second or first half of the third quarter (Q3). Emefiele spoke after emerging from a closed session with Senate President, Abubakar Bukola Saraki, in Abuja. The CBN chief who said the Senate President invited him to give

Read more...

THE Senate yesterday launched investigation into alleged foreign exchange allocation manipulation involving over N30 trillion. Many banks were fingered in the deal said to have been perpetrated between 2006 and 2017. The banks were queried for alleged manipulation and connivance with importers to defraud the country. The investigation

Read more...

THE Securities and Exchange Commission (SEC) and Nigerian Stock Exchange (NSE) have revoked the licences of 21 firms for various infractions, including inability to meet minimum capital requirement, fraud and inactivity. With the deregistration of the firms and revocation of their licences, the firms have been expelled from the market. Besides,

Read more...

The Capital Adequacy Ratios (CARs) of three big banks have fallen below regulatory capital requirement, the result of stress test conducted by the Central Bank of Nigeria (CBN) on the status of the banking system has shown. Overall, the result of the solvency stress test indicated the potential for high contagion risk through unsecured interbank

Read more...

THE Federal Government can realise N3trillion from maritime yearly if the sector is structured, a top Federal Ministry of Finance official has said. The official, who asked not to be named, urged President Muhammadu Buhari to invest part of the money generated from the sector in the economy because of the dwindling oil revenue. The president

Read more...

A report from a Russian online cyber security firm, Kaspersky, has observed that North Korean hackers are allegedly attacking banks in 18 countries, including Nigeria. The organisation noted in its report that this could be regarded as the biggest bank heists in world history. Banks and security researchers have previously identified four similar

Read more...

The naira, which in the last few days, recorded marginal losses, is likely to strengthen today as the Central Bank of Nigeria (CBN) will boost liquidity in the market with $240 million. The naira yesterday traded at N395 to dollar, from N385 to dollar at the weekend. A statement from the apex bank, said $90 million will be deployed to meet genuine

Read more...

More Articles...

Sweet Music, Sweet Talk !


STUDIO LINES:
0902-094-1071 | 0902-093-1071
0814-844-4994

Listen Live