The Central Bank of Nigeria on Friday said the country plans to offer 212.85 billion naira ($675 million) in Treasury bills maturing between 91-days and 1-year on Aug. 31. The bank said it will sell 45.85 billion naira worth of the 91-day bills, 62 billion naira of the 182-day paper and 105 billion naira of […]
Central Bank has barred nine commercial banks from all foreign exchange transactions and operations. The banks were barred for hiding some $2.12 billion belonging to the nation’s oil corporation, the Nigerian National Petroleum Corporation (NNPC) and failed to remit the funds into the Treasury Single Account. A top Central Bank source confirmed to Channels Television […]
By James Emejo The Debt Management Office (DMO) on behalf of the Federal Government has commenced bids for the engagement of two international banks as joint lead managers and a local bank as financial adviser for the planned Nigeria’s Federal Government Medium Term Note (FGMTN) Programme 2016 – 2018, which highlights key borrowings to fund […]
Volkswagen AG will extend a production shutdown to factories making its best-selling Golf compact as an unprecedented dispute with a supplier halts delivery of the parts and sends both sides to court. Parts of six vehicle assembly plants will be idled on Monday, halting work on Volkswagen’s Golf line along with the Passat, a spokesman […]
The Nigerian government is to allocate 60 billion naira ($180 million) more spending on capital projects, as part of the 2016 budget. The Minister of Finance, Mrs Kemi Adeosun, said on Friday that the allocation was an addition to earlier releases, aimed at boosting the economy. Mrs Adeosun said that so far, the government had […]
Governor of Central Bank of Nigeria (CBN), Mr. Godwin I. Emefiele, has been elected President of the Association of African Central Banks (AACB) for the 2016 – 2017 year. He was elected on Thursday by the Assembly of Governors of African Central Banks during its 39th Ordinary Meeting held at CBN Headquarters Abuja. A communiqué […]
The Central Bank of Nigeria (CBN) on Wednesday evening cleared the air on the present state of Skye Bank, dismissing rumours that it is either distressed or liquidated. A statement issued in Abuja and signed by the CBN Acting Director, Corporate Communications, Isaac Okorafor, said: “The attention of the Central Bank of Nigeria (CBN) has […]
UAC Restaurant has launched an in-store promotion to mark 30 years existence of Mr. Bigg’s. Tagged Mr. Bigg’s Shout-out, the promotion is aimed at rewarding its teeming customers nationwide. Speaking at Mr. Bigg’s first franchisee’s outlet in Marina, Lagos, recently to herald the promo launch, UAC Restaurant Marketing Manager, Mrs. Eustesia Ogunnusi said: “The in-store […]
Technology news site, CRN is reporting that about 14,000 jobs would be axed at Cisco Systems Inc., representing nearly 20 percent of the network equipment maker’s global workforce. Citing sources close to the company, the report stated that the San Jose, California-based Cisco is expected to announce the cuts within the next few weeks, as […]
The Nigerian Government says it is ready to partner with States and other Stakeholders in formulating policies and programmes in the Agricultural sector to ensure food sustainability. This was the issue at the front burner of the official launch/public presentation of the Agricultural Sector Roadmap: ‘The Green Alternative: Agriculture Promotion Policy – 2016 – 2020.’ […]