Tag Archives Business

CBN Predicts Further Depreciation of the Naira in January
CBN Predicts Further Depreciation of the...

CBN Predicts Further Depreciation of the Naira in January 2021

The Central Bank of Nigeria has said that a survey conducted by its Statistics Department showed that the naira is projected to further depreciate in January next year. According to the report titled, ‘December 2020 Business Expectations Survey Report’, there might also be a steady rise in the... read more »

CBN Withdraws 42 Microfinance Bank’s Operating Licences
CBN Withdraws 42 Microfinance Bank’s Ope...

CBN Withdraws 42 Microfinance Bank’s Operating Licences

Nigeria’s apex bank, the Central Bank of Nigeria has withdrawn the operating licences of 42 microfinance banks operating in the country. This was contained in an announcement issued by the Nigeria Deposit Insurance Corporation (NDIC) on its website titled, ‘Notice of closure of 42 microfinance... read more »

Diaspora Remittances: CBN Threatens Sanctions Against Paying Local Currency
Diaspora Remittances: CBN Threatens Sanc...

Diaspora Remittances: CBN Threatens Sanctions Against Operators Paying Loca...

The Central Bank of Nigeria has cautioned operators against paying recipients of diaspora remittances in the local currency rather than foreign currency. The apex bank threatened to strip violators of their operational licences if they failed to comply with its remittance guidelines. It disclosed... read more »

President Buhari To Reopen Borders Soon
President Buhari To Reopen Borders Soon

President Buhari To Reopen Borders Soon

President Muhammadu Buhari, on Tuesday, had a closed door meeting with the nation’s 36 state governors on the security challenges across the country. He explained that the closure of the nation’s land borders was partly an attempt to control the smuggling of weapons and drugs. African News... read more »

Sanow-Olu Unveils Nigeria’s First Electric Car
Sanow-Olu Unveils Nigeria’s First Electr...

Sanow-Olu Unveils Nigeria’s First Electric Car

Governor Sanwo-Olu of Lagos State on Friday unveiled Nigeria’s first electric car dubbed Hyundai Kona. The car which is a product of Stallion Group was unveiled at the VON automoviles Nigeria, Ojo Lagos. Sanwo-Olu while speaking at the launch said that VON has acquired over 40 to 50 years of... read more »

Arabic Inscriptions on Naira Notes Not a Symbol of Islam - CBN

Arabic Inscriptions on Naira Notes Not a Symbol of Islam – CBN

The Central Bank of Nigeria (CBN) has kicked against a suit filed before the federal high court in Lagos asking for the removal of the Ajami (Arabic) inscriptions on the naira... read more »

WTO Postpones Meeting to Pick New WTO DG

WTO Postpones Meeting to Pick New DG

The World Trade Organisation on Friday postponed a meeting where members are expected to pick a new Director-General. The postponement is coming days after the United States declined to... read more »

Opinion: 5 Reasons Why President Trump won't Support Okonjo-Iweala as Next WTO Director General - Blessing Mene

Opinion: 5 Reasons Why President Trump won’t Support Okonjo-Iweala as Next WTO Direc...

This is an opinion article by Blessing Mene. People who want Okonjo-Iweala to become the next WTO Director-General mostly are excited about the prospect of the first female & African... read more »

WTO DG: Why We Oppose Okonjo-Iweala’s Nomination – US

WTO DG: Why We Oppose Okonjo-Iweala’s Nomination – US

The United States has explained its stance not to back Nigeria’s Ngozi Okonjo-Iweala for the World Trade Organisation (WTO) Director General position, noting the position must be held by... read more »

Breaking: Nigerian FEC Approves N13.08tn Budget for 2021

Breaking: Nigerian FEC Approves N13.08tn Budget for 2021

  The Nigerian Federal Executive Council (FEC) has projected a N13.08 trillion budget for the 2021 fiscal year. Speaking to State House Correspondents after the weekly virtual FEC meeting... read more »