The Nigeria Deposit Insurance Corporation (NDIC) has lauded the Central Bank of Nigeria (CBN) for its move to recapitalise banks to achieve economic resilience in the country. The Managing Director of NDIC, Bello Hassan, made the commendation on Friday during the NDIC Special Day at the ongoing 35th Enugu International Trade Fair. The News Agency … Read more
The Nigeria Customs Service (NCS) has announced the suspension of the 25 per cent import duty penalty on improperly imported vehicles. The directive for the suspension came from the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and is said to be part of strategies to help rejuvenate the economy and ensure … Read more
Senate panel begins probe of N30trn CBN loan obtained by Buhari The Senate began legislative activities last Monday with the inauguration of a nine-member ad hoc committee to interrogate the disbursement and usage of the 30 trillion Ways and Means loan obtained by the administration of former President Muhammadu Buhari from the Central Bank of Nigeria (CBN). … Read more
A prosecution witness, on Monday, detailed how former Central Bank of Nigeria (CBN) Governor Godwin Emefiele, who who is standing trial on fraud and corruption charges, allegedly awarded 45 contracts, cumulatively worth billions of naira, to family members, including his wife, Margaret Emefiele, and associates. Agboro Michael, an ICPC investigator, identified April 1616 Investment Limited, … Read more
The House of Representatives has resolved to launch an investigation into the National Mass Metering Programme (NMMP) of the Central Bank of Nigeria (CBN) under the administration of former President Muhammadu Buhari. The lower chamber resolved to investigate the funds disbursed to the licensed electricity distribution companies by the CBN as loans under the NMMP. … Read more
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) will impact the growth of the Nigerian economy, central bank governor Olayemi Cardoso said on Monday. Expressing concerns about the impact of previous MPC meetings on the economy, he said the MPC will complement the fiscal side and ensure that it moves the … Read more
The Central Bank of Nigeria (CBN) on Monday said it injected an additional $500 million into the foreign exchange market. This comes barely a week after it announced that it had so far disbursed approximately $2 billion across pivotal sectors like manufacturing, aviation, and petroleum. A statement signed by the Acting Director of the Corporate … Read more
