CBN approves 11 new money transfer operators - See list

31 August 2016

In furtherance of efforts to liberalise the Foreign Exchange Market, ensure liquidity and make foreign exchange more readily available to low end users, the Central Bank of Nigeria (CBN) has... Read More...

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You are at the verge of repeating Jonathan's mistakes; Emir Sanusi warns Pres. Buhari

25 August 2016

Those who thought royalty took off the fire in the former governor of the Central Bank of Nigeria and now Emir of Kano, His Royal Highness, Muhammadu Sanusi, may just have made a big mistake. ... Read More...

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CBN suspends First Bank, UBA, 7 other banks from forex trading

24 August 2016

Nigeria's central bank has suspended nine banks from the interbank currency market for failing to remit money owed to the government, banking sources told Reuters on Tuesday.

The suspension...

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akanu ibiam international airport,

BREAKING: First cargo plane lands at the Akanu Ibiam International Airport, Enugu

23 August 2016

First international cargo flight has landed at Akanu Ibiam airport, 3 years after it was upgraded for operation as an International airport in Nigeria. First ever international passenger flight... Read More...

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Another South African company leaves Nigeria

22 August 2016

Sun International, with 49 percent stake in Federal Palace Hotel, says it is leaving Nigeria, owing to “challenging economic conditions and regulatory dispute”.

The hospitality and gaming...

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Presidency proposes "Emergency Economic Stabilisation Bill 2016" to cushion economic recession

22 August 2016

As part of efforts to save the country's economy from sliding further into recession, President Buhari will be seeking emergency powers from the National Assembly to push his planned stimulus for... Read More...

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Naira sinks to an all time low as banks fail to meet forex requirement

19 August 2016

The naira traded at an all-time low of 365.25 to the dollar on Thursday in a single interbank market trade of $1m, Thomson Reuters data showed.

Interbank trading started two hours after the...

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Oyo state government seals Shoprite, 38 other firms over tax evasion

19 August 2016

Oludayo Tade, Ibadan

The Oyo State Inter-ministerial Tax enforcement team has sealed about 39 firms including banks, private hospitals, companies, filling stations within Ibadan metropolis... Read More...

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FG proposes fresh tax on phone calls, sms, data usage

18 August 2016

Minister of Communication, Bayo Shittu, yesterday disclosed that the Federal government is proposing to introduce a bill called the Communication Service Tax CST bill which seeks to levy 9% on... Read More...

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CBN orders increase in forex sales to BDCs by Commercial Banks

16 August 2016

The Central Bank of Nigeria and the Bankers Committee has increased the sale of foreign exchange by Commercial banks to Bureau de Change operators  from $30,000 to $50,000.

The increase...

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