Business
CBN lift forex restriction on importation of 43 items
Abiodun Folarin Concisedailynews – The Central Bank of Nigeria (CBN), has lifted the restriction of foreign exchange on importation of 43 items, it previously restricted in 2015; restates commitment to boost liquidity in foreign exchange Market. The apex bank, In a statement on Thursdays, by the Director, Corporate Communications, Isa…
Read More »NDIC Boss Urges ICAN to Integrate Deposit Insurance System (DIS) Courses
The Managing Director of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Bello Hassan, has called upon the Institute of Chartered Accountants of Nigeria (ICAN) to incorporate courses on the Deposit Insurance System (DIS) into its educational programs and modules. Mr. Hassan made the call during a courtesy visit by the…
Read More »Nigeria borrowed N457.2bn through TBs sales in August
The Nigerian government borrowed a total of N457.2 billion in the month of August through the sales of Treasury Bills (TBs). This is according to the FMDQ Markets Monthly Report for August. The amount represents an increase of 12.58 per cent (N51.10 billion) Month on Month (MoM). An increase in…
Read More »NDIC Commences Payment of N16.18 Billion of bank liquidation dividends to Depositors
Following impressive recoveries from debtors and realisation of assets of banks in liquidation, the Nigeria Deposit Insurance Corporation (NDIC) has announced declaration of N16.18 billion liquidation dividends to depositors, creditors and shareholders of 20 banks in-liquidation. To this end, the Corporation has commenced verification and payment of stakeholders covered by…
Read More »Afreximbank signs land acquisition for African Trade Centre in Egypt’s New Administrative Capital
African Export-Import Bank (Afreximbank) has signed a formal agreement for the acquisition of land for the New Administrative Capital African Trade Centre (NAC-ATC), which will house the Bank’s headquarters, along with other trade-supporting facilities and entities, in Egypt’s new administrative capital in Cairo. The agreement provides for a complex that…
Read More »Seplat Energy’s gas revenue grows to $63.7 million year-on-year
Seplat Energy Plc, a leading Nigerian independent energy company listed on both the Nigerian Exchange Limited and the London Stock Exchange, has within a year experienced a 10.2 per cent gas revenue, reaching $63.7 million in 6M 2023 (compared to $57.8 million in 6M 2022). This growth is attributed to…
Read More »DMO offers 2 new FGN savings bonds for subscription
The Debt Management Office (DMO) on Monday announced an offer of two fresh Federal Government of Nigeria (FGN) Savings Bonds for subscription at N1,000 per unit. According to the DMO, the first offer is a two-year FGN savings bond due on Aug. 16, 2025, at interest rate of 9.634 per…
Read More »Danbatta Advises Businesses to Adjust with Disruptive Technologies
Executive Vice Chairman of the Nigerian Communications Commission, NCC, Prof Umar Garba Danbatta, has advised businesses to adjust to the potentials of disruptive technologies which have been adopted across the globe for enhanced productivity and sustainability. He told industry leaders and Information and Communication Technology (ICT) innovators, who gathered at…
Read More »CBN Cancels 2,698 Bureaux de Change Licences
The Central Bank of Nigeria (CBN) has reduced the number of Bureau de Change (BDCS) dealers to 2,991. The CBN on Wednesday published a list of approved BDCS in a document entitled: ‘Approved BDCs’. The document revealed that the licenses of 2,698 BDCs have been revoked. A similar list was…
Read More »CBN, CBE Set Up ‘Nigeria-Egypt FinTech Bridge’
The Central Bank of Nigeria (CBN) and the Central Bank of Egypt (CBE) have signed a memorandum of understanding (MOU) to establish a Nigeria-Egypt FinTech Bridge. The signing ceremony, which took place at the Seamless North Africa 2023 conference at the Egypt International Exhibition Center, Cairo, on July 17…
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