Suspended Secretary to the Government of the Federation (SGF) Babachir David Lawal and National Intelligence Agency (NIA) Director-General Ayo Oke are to be relieved of their duties, it was learnt yesterday. This is the outcome of the probe into the isuues in which the two top government officials were involved. Acting President Yemi Osinbajo

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A plan by the Central Bank of Nigeria (CBN) to pump more dollars into the interbank foreign exchange (forex) market may shore up the value of the Naira against the dollar. The Naira appreciated marginally on all trading sessions at the interbank market, opening last week at N305.80/$1 and settling at N305.70/$1 at the end of the week. But the

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BANKERS yesterday warned e-fraudsters to behave or be taken off the banking system. Speaking for the Bankers’ Committee, Access Bank Managing Director Herbert Wigwe said banks were working out modalities that would enable them establish a central database to identify and punish e-fraud perpetrators. Data from the Central Bank of Nigeria (CBN)

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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

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The Central Bank of Nigeria (CBN) yesterday sanctioned 12 banks for manipulating its foreign exchange forex policies. It barred the banks from accessing forex from the newly instituted SMEs Forex Window. The affected banks refused to sell forex to genuine SMEs that met disbursement requirements. Confirming the development, CBN Spokesman,

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VICE President Yemi Osinbajo yesterday inaugurated the National Council on Micro Small and Medium Enterprises (MSMEs). The membership of the Council, under the chairmanship of the vice president and assisted by the Trade Industry and Investment Minister, Okechukwu Enelamah, has been reduced from an initial 43 to 21. Osinbajo

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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

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