Tag Archives Finance

CBN to Shut Accounts of Diaspora Remittance Violators
CBN to Shut Accounts of Diaspora Remitta...

CBN to Shut Accounts of Diaspora Remittance Violators

The Central Bank of Nigeria has threatened to suspend the operating licences of operators who continue to violate rules guiding diaspora remittances into the country. The apex bank said it would not tolerate the explicit flouting of its directive that all remittances be paid to beneficiaries in... read more »

2021 Forbes List: Dangote, Adenugu, Rabiu Among Africa’s Top 10 Billionaires
2021 Forbes List: Dangote, Adenugu, Rabi...

2021 Forbes List: Dangote, Adenugu, Rabiu Among Africa’s Top 10 Billionaire...

Nigeria’s Aliko Dangote has made the 2021 Forbes’ Africa Billionaires List released on Friday as the richest person in Africa, a position he has held for the past 10 years. Also, Nigeria had prominent businessmen, Mike Adenuga of Globacom, and Abdulsamad Rabiu of BUA Group listed as the 5th and... read more »

Algeria Crude Oil Output Slumped in 2020
Algeria Crude Oil Output Slumped in 2020

Algeria Crude Oil Output Slumped in 2020

Algeria’s oil revenue tumbled in 2020, worsening an economic crisis in the North African country which is highly dependent on crude income, according to data released by the Energy ministry on Sunday. The COVID-19 pandemic had taken a toll on oil prices, ravaging the economies of producer... read more »

Naira Suffers Further Slump, Exchanges for 473/$
Naira Suffers Further Slump, Exchanges f...

Naira Suffers Further Slump, Exchanges for 473/$

On Tuesday, 12 January 2020, the naira suffered depreciation at the parallel market and Investors and Exports window. Figures obtained from Bureau De Change operators showed that the naira exchanged to the dollar for 473/$ at the parallel market. Nigeria’s currency had enjoyed a reasonable growth... read more »

Court Sentences Ex-Finbank MD Over N10.9bn Fraud
Court Sentences Ex-Finbank MD Over N10.9...

Court Sentences Ex-Finbank MD Over N10.9bn Fraud

A judge of the Lagos State High Court Sitting in Ikeja, Lateefa Okunnu, on Tuesday, sentenced Okey Nwosu, a former managing director, Finbank Pls, to three years imprisonment on charges bordering on N10 billion fraud. Nwosu was arraigned alongside Dayo Famuroti, Agnes Ebubedike and Danjuma Ocholi... read more »

FCMB MD Proceeds on Leave as Paternity Scandal Probe Begins

FCMB MD Proceeds on Leave as Paternity Scandal Probe Begins

Adam Nuru, the Managing Director of First City Monument Bank Limited, has been embarked on leave to enable the bank duly investigate his indictment in the paternity scandal involving a... read more »

Diri Signs N329bn 2021 Appropriation Bill into Law

Diri Signs N329bn 2021 Appropriation Bill into Law

Bayelsa State Governor Douye Diri has signed the 2021 bill of N329.29 billion into law. The governor had on November 26 presented an estimate of N290.295 billion tagged, ‘Budget of... read more »

Governor Ikpeazu Signs 2021 Appropriation Bill

Governor Ikpeazu Signs 2021 Appropriation Bill

Abia State Governor, Dr Okezie Ikpeazu, has signed the 2021 Appropriation Bill into law. The Bill which was passed by Abia State House of Assembly during the Tuesday plenary session of the... read more »

UK Speaks on Gowon’s Alleged CBN Looting

UK Speaks on Gowon’s Alleged CBN Looting

The United Kingdom has distanced itself from the indictment of former Nigerian Head of State, Yakubu Gowon, by a member of its parliament, Tom Tugendhat. The UK lawmaker had on November 23,... read more »

CBN Predicts Further Depreciation of the Naira in January

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... read more »