FOREX | CBN monopolize Trading

• First Bank becomes sole dealer • 195 BDCs suspended • ‘Why decision has changed nothing’ The Central Bank of Nigeria (CBN) might have inadvertently instituted a monopolistic system solely enjoyed by First Bank of […]

NERC fines electricity distribution firms N6.2m

Two electricity distribution companies have been fined N6.2 million over their failure to comply with the Forum Office’s rulings in respect to complaints filed by their respective customers. The Nigerian Electricity Regulatory Commission (NERC)  in […]

Aisha Buhari decries sales of loan forms

The Wife of the President, Mrs. Aisha Buhari has decried the sale of forms for interest-free loans to women across the country. The forms, she said ought to be  obtained freely from the Federal Ministry […]

Chevron spends N5.6bn on scholarship

As part of its corporate social responsibility, local unit of American oil giant, Chevron Nigeria Limited (CNL) spent a princely sum of N5.6 billion on scholarships between 2009 and 2015, for 15,356 young Nigerians, its […]

CBN renews strategy for Naira-Yuan swap deal

Minister intensifies search for infrastructure pact World Bank warns of governance, unstable policies The Central Bank of Nigeria (CBN) yesterday, raised the hope that the lingering Naira-Yuan swap deal will be achieved as part of […]

50 customers owe banks N5.23tn

Fifty customers owe commercial banks the sum of N5.23tn, representing 33.4 per cent of the total private sector credit exposure of N15.68tn, the Central Bank of Nigeria’s Financial System Stability report has stated. The FSS […]

Ecobank gets AfDB trade finance support

The African Development Bank (AfDB) has approved a $310 million trade finance loan for Ecobank Transnational Incorporated, parent company of the Ecobank Group. AfDB said that the facility would provide critical trade finance funding to […]

Facebook pays more UK tax after outcry

Facebook paid £4.17 million ($5.18 million, 4.63 million euros) in British corporation tax last year, up from just £4,327 in 2014, accounts showed Sunday. The sharp increase reflects how the US technology giant has changed […]

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