MTN has made a payment of N30 billion ($98 million) to the Nigerian Government in part settlement of a N330 billion fine imposed on the telecoms group for not disconnecting unregistered SIM cards, an MTN source told Reuters on Thursday. Africa’s largest telecoms company has already paid 80 billion naira of the total amount owed, […]
The Central Bank of Nigeria (CBN) on Thursday informed market participants and the general public that it will commence twice weekly forex sales to Bureaux de Change (BDCs) from Monday, April 3, 2017. This, according to the bank’s Ag. Director, Corporate Communications, Isaac Okorafor, is “in continuation of its determination to sustain liquidity in the […]
The Nigerian economy is gradually reviving, President Muhammadu Buhari said on Thursday. He raised the hope while receiving the outgoing Ambassador of the Royal Embassy of Saudi Arabia, Fahad Bin Abdullah Sefyan, in a farewell audience at State House, Abuja. A statement issued by Special Adviser to the President (Media and Publicity) Femi Adesina quoted […]
Nigerian companies are playing key roles in the turnaround maintenance (TAM) at Bonga, as Shell Nigeria Exploration and Production Company (SNEPCo) executes statutory activities that will ensure continuous optimum operations at the deep-water field. Nearly all the bolts and nuts as well as fabrications used for the exercise are made in Nigeria, marking a turning […]
Barely 24 hours after its directive to Deposit Money Banks (DMBs) in the country to sell foreign exchange obtained from it to retail end-users at not more than N360/$1 for invisibles, the Central Bank of Nigeria (CBN), on Tuesday, March 28, 2017 crashed the rate at which it sells forex to Bureaux De Change (BDCs) […]
By Mayowa Okekale, Abuja Federal Lawmakers have mandated the leadership of the Senate to liaise with President Muhammadu Buhari to urgently intervene in the provision of a bailout fund for the payment of pensioners. This followed a petition submitted by a lawmaker representing Bayelsa Central, Senator Emmanuel Paulker, during the plenary on Tuesday over the […]
The Central Bank of Nigeria (CBN) has directed all banks in the country to immediately begin sale of forex for BTA, PTA, Tuition and Medical fees to customers at not more than N360 per dollar. CBN Acting Director, Corporate Communications Department, Isaac Okorafor, confirmed this Monday morning in Abiuja. He said: “CBN will sell to […]
Following Thursday’s FOREX wholesale auction, the Central Bank of Nigeria (CBN) on Friday concluded transactions on the sum of $100 million earlier offered at the interbank market to meet customers’ demands, out of which authorised dealers were only able to pick $81.347 million after an initial bid for $91 million. Commenting on the offer, the […]
The Nigerian National Petroleum Corporation (NNPC) has commended Taleveras, one of Nigeria’s oil companies, for its cooperative attitude in the ongoing reconciliation of transactions in the defunct crude for products arrangement. Group Managing Director (GMD), Nigeria National Petroleum Corporation (NNPC), Dr. Maikanti Baru, made the commendation on Friday in Abuja while revealing NNPC’s strategies to […]
The Ministry of Finance, says it has so far received 2,351 tips from whistleblowers bordering on cases of embezzlement of government funds, looting of assets and contract inflation, among others. In a statement signed by Mr Festus Akanbi, the Special Adviser, Media to the Minister of Finance, Mrs Kemi Adeosun, said last night in a […]