Banks fail CBN’s stress test on foreign operations
Eight commercial banks have fallen short of the Capital Adequacy Ratio (CAR) required for international authorisation; the stress test conducted…
FG to leverage non-interest financing to curb rising debt, says Edun
Wale Edun, Minister of Finance and Coordinating Minister of the Economy says the Federal Government is considering adopting a non-interest…
CAC sets N100m paid-up capital for companies with foreign interests
The Corporate Affairs Commission (CAC) has commenced the implementation of the requirement of N100 million minimum paid-up capital for companies…
CBN Governor approves charter on ease of doing business
The Governor, Central Bank of Nigeria (CBN) Mr Olayemi Cardoso has approved the CBN’s reviewed Service Charter. A statement from…
Nigeria eyeing multi-trillion dollar Climate Change Financing to fund 2024 Budget — Edun
The Minister of Finance and the Coordinating Minister of the Economy, Mr. Wale Edun, says the country is targeting multi-trillion-dollar…
FG’s deficit spending rises 11% to N7.88trn
The Federal Government recorded an 11 per cent, year-on-year (YoY) increase in deficit spending to N7.88 trillion in seven months,…
Nigeria’s external reserves fall $1.65bn in six months
Nigeria’s foreign exchange reserves have fallen by $1.6bn to $32.97bn since the Central Bank of Nigeria (CBN) tried to unify…
Crunch time for banks, NIMCs over CBN’s BVN directive
In the coming weeks and months, Nigerians are likely to besiege commercial banks and the National Identity Management Commission offices…
Naira Slides Further As Dollar Shortage Hits Banks
The widening gap between the demand and supply of dollars in the banks and at the parallel market has continued…
‘CBN lacks experience to manage naira float’ — EIU predicts reversal of FX unification policy
The Economist Intelligence Unit (EIU), an arm of The Economist of London, has predicted that the Nigerian government will go…