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Business

East African banks dominate this year’s African banker awards

By Nasir Kura  Winners of the 2018 African Banker Awards have been announced at a prestigious Gala Dinner in Busan, South Korea. The Awards, held annually on the fringes of

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CBN lifts retail SMIS with $293m

By Nasir Kura The Central Bank of Nigeria (CBN) on Friday, May 18, 2018 lifted the Retail Secondary Market Intervention Sales (SMIS) of the inter-bank Foreign Exchange Market with the

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Governors accuse NNPC of fraudulent subsidy payment

By Ahmed Idris Governors of the 36 states of the federation on Wednesday accused the Nigeria National Petroleum Corporation (NNPC) of fraudulently doubling the nation’s daily petrol consumption from about

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CBN injects $210m into Forex market

By Nasir Kura The Central Bank of Nigeria (CBN) on Monday, January 29, 2018, injected another sum of $210 million into various segments of the inter-bank market. At Monday’s trading,

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Africa countries seal deal on single air transport market

By Ahmed Idris The African Union (AU) on Monday sealed a deal to operate Single African Air Transport Market (SAATM) in order to enhance connectivity and ensure cheaper flights in

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Nigeria govt says national carrier underway

By Ahmed Idris Nigeria would soon have a full private sector-driven national carrier, Minister of State for Aviation, Mr. Hadi Sirika, said on Monday in Addis Ababa, Ethiopia. The minister

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Forex: Retail SMIs get $304.4m

By Nasir Kura The Central Bank of Nigeria (CBN) has intervened in the Retail Secondary Market Intervention Sales (SMIS) of the inter-bank Foreign Exchange Market to the tune of $304,400,000.00.

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Extra income from rising oil prices will go infrastructure – Buhari

By Ahmed Idris  Income accruing to the country from rising oil prices in the international market would be spent on infrastructural development, President Muhammadu Buhari, said on Friday. Receiving a

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NNPC not remitting cash call into JVC Account – Nigerian governors

By Ahmed Idris Governors of the 36 states of the federation on Thursday accused the Nigerian National Petroleum Corporation (NNPC) of refusing to remit to the Federation Account the Joint

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CBN boosts Forex Market with $210m

By Nasir Kura The Central Bank of Nigeria (CBN) has boosted the inter-bank Foreign Exchange Market with the sum of $210 million to meet customers’ requests in various segments of

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