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Business

JUST IN: Food Inflation Hits Record High Of 40.8% Under Tinubu- NBS

Nigeria’s food inflation has reached an all-time high of 40.87 per cent as the Bola Tinubu-led government embarked on reforms that have spiked the...
Business

CAC Gives BDCs 90 Days To Withdraw Certificates After CBN’s Revocation Of Licence

The Corporates Affairs Commission (CAC) has issued a three-month ultimatum to Bureau de Change operators asking them to change their names and objects or...
Business

MTN Owes Creditors, Others N977bn As Naira Depreciation Bites Harder

MTN Nigeria Communication Plc said it owes its capital providers N977.4bn in 2023 due to high interest rates and naira devaluation.The telecom services provider...
Business

CBN Set To Sanction Banks Rejecting Dirty, Mutilated Bank Notes

The Central Bank of Nigeria (CBN) has said that it will penalise banks rejecting mutilated naira notes.The bank said this on Wednesday in a...
Business

How Fraudsters Sent Over €36bn Fake Wire Transfers To Nigerian Banks From Abroad – NFIU

The Nigerian Financial Intelligent Unit (NFIU) has revealed how fraudsters petitioned banks and the Central Bank of Nigeria (CBN), accusing them of criminally converting...
Business

GTCO Seeks SEC Approval For N500bn Offering To Recapitalise GTBank

Guaranty Trust Company Plc (GTCO), the parent company of Guaranty Trust Bank Ltd (GTBank) has filed for the Securities and Exchange Commission’s (SEC) approval...
Business

Over 90% Of N3.97tn Currency In Circulation Not Within Banking System- CBN

Nigeria’s currency in circulation has hit a record high of N3.97tn in May despite the Central Bank of Nigeria’s hawkish monetary policy.CBN said 90...
Business

Many Of Us Used Our Salaries As Loan Collateral- Sacked CBN Workers Demand Reinstatement

Some of the dismissed employees of the Central Bank of Nigeria have alleged that their dismissal contravenes the bank’s ‘Human Resource (HR) Policy’ adding...
Business

CBN Yet To Settle $19m Out Of $850m Foreign Airlines Trapped Funds- IATA

About $813m funds belonging to foreign airlines that were trapped in Nigeria since June 2023 had been cleared but the Central Bank of Nigeria...
Business

‘No Plan To Transfer Interest Rate Decision From CBN’- Senate Committee Chairman On Banking Refutes Misleading Reports

The Special Adviser to the Chairman, Senate Committee on Banking, Insurance and other Financial Institutions, Prof Uche Uwaleke has refuted misleading reports currently circulating...
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