Money

Bankers, economists warn on risks of embracing bitcoin as it hit all-time high of $8, 000

International bankers and economists have sounded a warning about the mega risks involved in embracing bitcoin, which has lately soared to a new record high of more than $8,000. Six years ago, it traded for just one dollar. “It’s the exact definition of a bubble,” the head of Swiss banking giant, Credit Suisse, Tidjane Thiam, […]

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Maikanti Baru

NNPC procures $3.7 billion external funding in 3-year

The Nigerian National Petroleum Corporation on Wednesday said it had secured a total of $3.7 billion in alternative financing agreements in the last three years. The Group Managing Director, NNPC, Maikanti Baru, said securing external funding arrangement was crucial to sustaining oil and gas production in Nigeria and ensuring the survival of the country’s energy […]

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U.S. Dollar held with Nigerian Naira

‘Naira will never hits 500 against USD’, CBN assure Nigerians

As the foreign exchange (forex) rates gradually converge at ₦360/$, the Central Bank of Nigeria (CBN) has assured Nigerians that the country would never go back to the era of ₦500/$ again. Its Deputy Governor in charge of Financial System Stability, Dr. Joseph Nnanna, gave the assurance Saturday in Lagos after he was conferred with […]

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Bayelsa state IGR hits ₦1.3 billion

Bayelsa State government has recorded ₦1.3 billion as Internally Generated Revenue (IGR) in September, the Deputy Governor, retired Rear Admiral John Jonah, said on Friday. Breaking the state’s financial statement for the month of September in Yenagoa, Jonah said the state had realised about ₦1.3 as IGR while in August, the state had generated ₦868.58 […]

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Director-General, SEC, Mr. Munir Gwarzo

SEC DG, Gwarzo fingered in ₦104m severance pay, contracts award to own companies scandal

Director-General of the Securities and Exchange Commission (SEC), Mr. Mounir Haliru Gwarzo, has been alleged by SaharaReporters, an online newspaper, to have perpetrated a variety of fraudulent activities since his appointment by former President Goodluck Jonathan for a first term of five years on May 22, 2015. According to the medium, this was prior to […]

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Retiree

Osun awards ₦1.6 billion retirement bond certificates to pensioners

Osun State Government has awarded retirement bond certificates worth ₦1.682 billion to pensioners, who retired from local government councils and primary schools in the state. The Permanent Secretary, Local Government Staff Pension Bureau, Mr. Kayode Afolabi, said this in an interview with journalists in Osogbo shortly after the presentation of the certificates. The PS stated […]

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BoI offers ₦3.5 billion for SMEs in Osun

Bank of Industry (BoI) has disbursed N3.5 billion to business men and women in Osun State to boost Small and Medium Enterprises (SMEs) in the state. Its Managing Director, Mr Kayode Pintan, disclosed this at the Osun State Business Summit held in Osogbo, recently. He added that the move was in tandem with the bank’s […]

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CBN injects $195 million into forex market

The Central Bank of Nigeria, CBN, Monday, continued its intervention in the inter-bank foreign Exchange market with the injection of $195 million. Figures released by the CBN show that it offered the total sum of $100million to the wholesale segment, while the Small and Medium Enterprises (SMEs) segment received the sum of $50 million. The […]

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Rice operators predict prices to rally around ₦6, 000/bag

Rice farmers, millers and processors on Wednesday announced that the price of a 50kg bag of the produce would fall to around ₦6,000 in the next few months. According to them, the current market price of rice, which is about ₦15,000 per 50kg bag, will drop to between ₦6,000 and ₦7,000 in a couple of […]

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Pension managers, institutions invest ₦105bn in Sukuk bond

The Islamic sukuk bond recently issued by the Federal Government was oversubscribed by more than ₦5 billion, the Debt Management Office said on Tuesday. The ₦100 billion seven-year sukuk offered by the Federal Government, which closed on Friday, attracted a subscription of ₦105,878,320,000, according to a statement issued in Abuja by the DMO. According to […]

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FG raised ₦6.3 billion from issuance of FGNSB in 7-months

Nigeria’s Federal Government has raised ₦6.3 billion through the issuance of monthly Federal Government of Nigeria Savings Bond in the last seven months, the Debt Management Office has said. The new bond was introduced to the country in March and the last offer was made about two weeks ago and lifted the contribution of the […]

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