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Ifeanyi Onuba, Abuja The Central Bank of Nigeria on Monday modified its foreign exchange policy with the reduction of the tenor of its forward sales from the current maximum cycle of 180 days to 60 days from the date of transaction. For business and personal travel allowances, the CBN said ...

Leke Baiyewu, Abuja The Senate, on Monday, asked the Economic and Financial Crimes Commission to investigate officials of the Central Bank of Nigeria and the Nigerian National Petroleum Corporation over alleged racketeering in foreign exchange transactions. The lawmakers also urged the EFCC to identify owners of mansions in highbrow areas ...

Ifeanyi Onuba, Abuja A total sum of €300m (N97.5bn) has been set aside by a German investment group, CUBE Commodities Company, to finance small-scale industrialists in Nigeria. The Chief Executive Officer, CUBE Commodities Company, Dr. Dean Nguyen, gave the figure on Monday in Abuja during a meeting with members of ...

Nike Popoola Stakeholders in the insurance and the Information and Communications Technology sectors are collaborating to boost insurance penetration using the electronic means. The stakeholders would converge on Lagos for a conference on e-insurance with the theme, ‘Driving insurance penetration with information and communications technologies’. A statement said the gathering ...

With improved business environment, experts say telcos and technology companies will provide better services, OZIOMA UBABUKOH writes The KPMG 2015 Technology Industry Outlook Survey has revealed that macroeconomic conditions and the dynamic global regulatory and tax environment are among the leading challenges to technology companies’ growth. In a study conducted ...

The Federal Government says it will inject N500 billion into the Federal Mortgage Bank (FMB) to enable it meet the housing needs of Nigerians. Minister of State for Power, Works and Housing, Alhaji Mustapha Baba, who spoke yesterday in Jalingo, said the measure would help the the bank to adequately ...

The executive secretary, Nigerian Christian Pilgrims Commission (NCPC), Rev Tor Uja has called on the federal government to include and sponsor heads of ministries, departments and agencies for the pilgrimage as this would help to tame corrupt tendencies in any individual. Speaking to journalists yesterday in Abuja during the orientation ...

In furtherance of her relentless efforts to stem the tide of indiscriminate criminalization and extra-judicial killing of Nigerians in Diaspora, the Senior Special Assistance to President Muhammadu Buhari on Foreign Affairs and Diaspora Matters, Hon Abike Dabiri-Erewa, on 7 February, 2017, paid a ‘fence mending’ visit to the South African ...

Nigeria has indeed seen tough times, tough times that have lasted over six years, with accompanying wanton destruction of lives and properties running into billions of naira. While it is argued in some quarters that the Boko Haram crisis has some international sponsors, I nonetheless think there is more than ...

The Central Bank of Nigeria (CBN) has directed that henceforth, banks should sell foreign exchange to retail end users at airports without putting into consideration the 60:40 rule which prioritises the manufacturing and raw materials purchase. In a new forex policy officially announced yesterday, the apex bank also cut down ...