CBN fines UBA, Access Bank, Fidelity, Stanbic IBTC over N800m for violating crypto policy
The Central Bank has fined four banks for flouting its directive on cryptocurrency transactions. The CBN had in February 2021…
RMAFC proposes 3.33% reduction in allocation to FG, increase for States, LGAs
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has proposed a 3.33% reduction of the statutory allocation to the Federal…
IMF blames dollar scarcity in Africa on shallow exchange markets
The International Monetary Fund (IMF) has explained why dollar scarcity persists in emerging economies, especially sub-Saharan Africa. In an emailed…
Russia-Ukraine crisis: Afreximbank launches $4bn financing programme for African economies
The African Export-Import Bank (Afreximbank) says it has launched a $4 billion Ukraine Crisis Adjustment Trade Financing Programme for Africa…
CBN fines three banks N800m over crypto transactions
The Central Bank of Nigeria (CBN) has imposed an N800m fine on three Deposit Money Banks (DMBs) in the country…
DMO lists 2 new FGN savings bonds for subscription
The Debt Management Office (DMO) has offered two new Federal Government of Nigeria (FGN) bonds for subscription. The first, a…
Total assets of Nigeria’s microfinance banks hit N1.35tn
The total assets of Nigeria’s microfinance banks (MfBs) increased to N1.35tn by the end of September 2021, from N856.3bn recorded…
FG plans N720bn domestic borrowing In Q2 – DMO
The Federal Government is planning to borrow N720 billion from the domestic market in this second quarter of 2022. This…
FG rakes in $6bn in taxes from Shell
The Shell Petroleum Development Company of Nigeria Limited (SPDC), Shell Nigeria Exploration and Production Company Limited (SNEPCo) and Shell Nigeria…
Nigeria’s imports rise by N12.11tn despite forex shortage
Despite the shortage of foreign exchange (FOREX), Nigeria’s imports have been rapidly increasing. According to data from the Central Bank…