ECONOMY

Forex: CBN Makes First Intervention Of 2019

Forex: CBN Makes First Intervention Of 2019

Chris Steven, Abuja  The Central Bank of Nigeria (CBN) on Friday, January 4, 2019, made its first intervention in the inter-bank sector of the Foreign Exchange market for 2019 with a total sum of $210 million injected into the wholesale segment and other sectors of the market. A breakdown of the figures obtained from the […]

$8.1bn Repatriation: MTN, CBN To Report Settlement Jan 22, 2019

A Federal High Court, Lagos, today, fixed January 22, 2019, for report of settlement on the dispute between MTN Nigeria and the Central Bank of Nigeria (CBN) over the controversy surrounding the alleged repatriation of $8.1bn profits from Nigeria.At the resumed hearing of the matter today, the lead counsel for MTN Nigeria, Chief Wole Olanipekun, […]

Businessman accuses Fidelity bank of illegal withdrawal of $1.8m

Businessman accuses Fidelity bank of illegal withdrawal of $1.8m

A Federal High Court in Lagos will today (Monday) take evidence from a customer with Fidelity bank, Mr. Laitan Adesanya on how the sum of $1.8m deposited in his domiciliary account number 5090619186 allegedly disappeared from his account. Mr. Adesanya had approached the court for an order declaring that the Fidelity bank is liable to […]

Nigeria Air has not been killed – Sirika

Nigeria Air has not been killed – Sirika

Chris Steven, Abuja The Minister of State, Aviation, Hadi Sirika has clarified that the suspension of the national carrier (Nigeria Air) project was not the end of the project. Sirika in a statement issued in Abuja on Tuesday also corrected insinuation that the suspension was as a result of lack of investors. According to the […]

Depositors’ fund with Skye Bank are safe- Emefiele

Depositors’ fund with Skye Bank are safe- Emefiele

Chris Steven, Abuja The Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, has allayed fears of depositors who have funds with the Skye Bank, saying that their funds were in safe custody. Emefiele stated this Friday after announcing the revocation of the operational licence of the bank. He also announced that Polaris Bank has […]

Experts call for improved coverage of digital rights in the media

Experts call for improved coverage of digital rights in the media

Chris Steven, Abuja Digital Rights experts have called on media practitioners across Africa to focus media attention on digital rights violations on the continent. The experts made this call while speaking at the induction ceremony for the 2018 Digital Rights and Inclusion Fellows in Lagos at the headquarters of Paradigm Initiative. Speaking at the induction, […]

Forex: CBN injects $303m, CNY 46.58m into retail SMIS

Forex: CBN injects $303m, CNY 46.58m into retail SMIS

Chris Steven, Abuja The Central Bank of Nigeria (CBN), has injected the sum $303.91 million into the inter-bank retail Secondary Market Intervention Sales. This is in addition to the sale of CNY 46.58 million in the spot and short-tenured forwards. The figures obtained from the CBN on Friday, showed that the US dollar-denominated interventions were […]

CBN unveils guidelines for long-term credit to agric, manufacturing

CBN unveils guidelines for long-term credit to agric, manufacturing

Chris Steven, Abuja The Central Bank of Nigeria (CBN) has underscored its intention to increase the flow of credit to the real sector of the economy, in order to consolidate and sustain the nation’s economic recovery. The CBN Monetary Policy Committee (MPC), at its 119thmeeting held on July 23 and 24, 2018, introduced its revised […]

STL trustees explains enforcement of court judgment on Awoyaya land

STL trustees explains enforcement of court judgment on Awoyaya land

STL Trustees has explained that the July 24 and 25, 2018 execution of the judgement on the property measuring 200.184 hectares situated at Awoyaya Area, along the Lekki-Epe Expressway, Ibeju-Lekki Local Government Area of Lagos State, was in compliance with the Judgments of the Courts obtained in Suit Nos. LD/1911/04 and LD/420LMW/2015. STL through its […]

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