Banking and Finance

An International Monetary Fund (IMF) capacity development mission has visited Nigeria in a strategic move to support the Fiscal Responsibility Commission (FRC) in establishing a Fiscal Monitoring Framework (FMF) for the country. The FRC is the agency saddled with the mandate of promoting…

The Director of Trade and Exchange Department, Central Bank of Nigeria (CBN), Dr. Ozoemena Nnaji has revealed that diaspora remittances through the ‘Naira 4 Dollar Scheme’ stood at $2.4 billion the first eight months of 2022. She noted that the inflow has been…

Despite repeated warnings by the Central Bank of Nigeria, commercial banks are still in the habit of rejecting old United State dollar bills, Daily trust investigations revealed. A number of the new generation banks visited within the Central Business District of Abuja out rightly…

Securities and Exchange Commission (SEC) has urged the federal government to consider its proposal to exempt corporate bonds from the payment of tax. The director-general of SEC, Lamido Yuguda said this on Friday during a press briefing on the outcome of the second…

The National Economic Council (NEC) has approved a $750m World Bank-backed State Action on Business Enabling Reforms (SABER) programme. The Secretary of Presidential Enabling Business Environment Council (PEBEC), Dr. Jumoke Oduwole, who disclosed this, yesterday, said the $750 million financing amounts to 36…

The Securities and Exchange Commission (SEC), says it will sanction stakeholders whose actions are frustrating its efforts toward reducing the volume of unclaimed dividends. Mr Lamido Yuguda, the Director-General of SEC, said this at a post Capital Market Committee (CMC) news conference on…

The World Bank has identified conflict as one of the critical drivers of food insecurity in West Africa, especially in the north-western part of Nigeria and the Liptako Gourma region, which borders Burkina Faso, Mali and Niger Republic. In its latest ‘Food Security…

The Central Bank of Nigeria (CBN) has announced an upward adjustment of the negotiable minimum interest rate payable on local currency savings deposits to 30 per cent of the Monetary Policy Rate (MPR). In September 2020, the central bank, as part of efforts…

The  Debt Management Office (DMO) is set to announce the listing of three Federal Government of Nigeria bonds valued at N225 billion for subscription via auction at N1,000 per unit, today. The DMO which made the announcement in a statement issued…

The  Securities and Exchange Commission (SEC) has approved the Nigerian Exchange Limited (NGX)’s guidelines on Trade Execution via the exchange’s On-Manual Negotiated Deal Window for fixed income (FI) securities. The FI market provides access to both retail and institutional investors to…