Major operators in the Nigerian Maritime sector have argued back and forth over the decision of the new Governor of the Central Bank of Nigeria, ‘CBN’ Dr Yemi Cardoso, to remove the ban on forex for imports of 43 items into the country. While some are of the opinion that the decision won’t benefit the…
CBN ,The Central Bank of Nigeria yesterday returned Bureaux De Change (BDCs) to the foreign exchange market, with new guidelines on their operations. In a circular to BDCs signed by CBN Director, Trade and Exchange Department, O.S Nnaji, titled: “Operational Mechanism for Bureau De Change Operations in Nigeria”, the apex bank said the guidelines were…
World Bank Country Director, Nigeria Office, Shubham Chaudhuri, has lauded President Bola Tinubu’s reform policies. Chaudhuri, who commended the policies at a symposium on Thursday in Ibadan, however, called for speedy rollout of palliatives to cushion their effects on Nigerians. The symposium was organised by the Department of Agricultural Economics, Faculty of Economics and Management…
Nigeria Deposit Insurance Corporation, NDIC, announced it will begin investigating directors of the 183 banks that recently had their licenses revoked. This was disclosed by the Managing Director of the NDIC, Mr Bello Hassan at a one-day capacity-building workshop for law enforcement agencies on Thursday in Lagos. The NDIC says it plans to work with the Economic…
NNPCL, The Nigerian National Petroleum Company Limited has secured a $3 billion crude repayment loan to support the naira and stabilise the foreign exchange market, a terse statement posted on the official account of the company on X (formerly known as Twitter) said on Wednesday. The statement noted that the oil company secured the funding…
