$10bn debt: CBN defaults on payment to banks, dollar nears N1,000
Over two weeks after the Central Bank of Nigeria promised to clear over $10bn foreign exchange debts owed Deposit Money Bank, the apex bank has yet to do so according to findings by The PUNCH. This came as the naira was sold between 990/$ and 995/$ by Bureau De Change operators on Friday and Saturday in […]
FG, NGX to promote tech startup listings
The Federal Government through the Ministry of Communications, Innovation and Digital Economy, has said it is planning to collaborate with Nigerian Exchange Limited (NGX) to stimulate startup listings on the newly created NGX Technology Board. The Minister of Communications, Innovation and Digital Economy, Bosun Tijani, stated this during a tech event themed; Invest in Africa’s future- […]
32.5% CRR: CBN Debited 10 Banks N1.62tn in H1 2023
For failing to meet 32.5 per cent Cash Reserve Requirement (CRR) threshold, the Central Bank of Nigeria (CBN) debited 10 banks N1.62 trillion in the first six months of 2023, THISDAY investigations has revealed. The 10 banks are: Zenith Bank Plc, United Bank for Africa (UBA), Guaranty Trust Holding Company Plc (GTCO), and FBN Holdings […]
Anxiety as forex scarcity halts petrol importation
Oil marketers are increasingly worried they can’t import petrol due to the dollar shortage in the country. Despite the deregulation of the downstream sector, concerns have been raised about the potential comeback of the country’s persistent fuel scarcity, OPEOLUWANI AKINTAYO writes Expectations were high when oil marketers canvassed for the removal of fuel subsidies, and […]