Credit has increasingly been recognised as a major driver of successful economies. Access to credit stimulates business growth while increasing the purchasing ability of citizens, both of which ultimately lead to economic expansion. According to data from the US Federal…
Naira drops by 0.42%, experts proffer solution
The Naira on Tuesday depreciated against the dollar at the Investors and Exporters window, exchanging at N430.67. The figure represented a decrease of 0.42 per cent compared with the N428.88 it exchanged for the dollar on Monday. The open indicative…
Remita introduces eNaira on payment platform
Remita, Africa’s leading electronic payment brand, has introduced eNaira, the digital currency of the Central Bank of Nigeria (CBN), as an additional payment option across all its touch points. With the introduction of eNaira on Remita, according to a statement,…
Emefiele bows to pressure, chickens out of presidential race
Following intense public outcry, Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has withdrawn from the race to succeed President Muhammadu Buhari in 2023. Sources close to the CBN governor said he withdrew from the race over fear that he…
Court rejects Emefiele request to stop INEC from disqualifying him for election
A Federal High Court in Abuja has refused the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele’s request to restrain the Independent National Electoral Commission (INEC) and the Attorney General of the Federation (AGF) Abubakar Malami preventing him…
2023 Presidency: I’m in dilemma, Emefiele tells court
The Governor of the Central Bank of Nigeria, Godwin Emefiele has dragged the Independent National Electoral Commission and the Attorney General of the Federation and Minister to court over his 2023 presidential ambition. Aside from filing an originating summons against…
Reps committee summons DSS, CBN, NNPC, Customs over dormant ports (Sun)
An ad hoc committee of the House of Representatives has summoned heads of four government agencies to appear before in on Monday, August 19. This followed the ruling of the Chairman of the Committee, Yusuf Buba (APC-Adamawa) at a public…
Money laundering: CBN goes hard on banks (Nation)
The Central Bank of Nigeria (CBN) and the Office of the Attorney General of the Federation (OAGF) have approved new administrative sanctions regime against banks and their staff who fail to comply with anti-money laundering and terrorist financing regulations. The…