• CBN Offers $100m To Forex Dealers In Wholesale Forwards

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    Buoyed by the impact of its interventions and stability in the foreign exchange market, the Central Bank of Nigeria (CBN) yesterday, offered the sum of $100 million to authorised currency dealers to meet the requests of wholesale customers at the forex auction in the interbank wholesale window. The Acting Director, Corporate Communications Department at the…

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  • ‘CBN’s Sectoral Forex Strategy Stabilises Naira’

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    Steps taken by the Central Bank of Nigeria (CBN) to commence sectoral foreign exchange interventions may have started yielding positive results by way of stabilising the exchange of the Naira against major currencies and greenback in particular. The effect of this initiative was easily noticed over the weekend as those operating in the small and…

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  • CBN Releases Fresh $100m To FOREX Market

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    Apart from the $280 million it injected into the Foreign Exchange Market on Tuesday, April 18, 2017, the Central Bank of Nigeria (CBN) on yesterday, carried out spot, wholesale interventions in the interbank FOREX market by offering a total sum of $100m to authorized dealers to meet the 7 to 15-day forwards requests of customers….

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  • Cost Cutting: FG Saves N19bn From Travels, Sitting Allowances

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    The federal government has saved about N19 billion in the last one year through the implementation of cost cutting measures on expenses previously incured by past administrations on travels and sitting allowances. LEADERSHIP findings revealed that these expenses, considered unnecessary wastage, was saved through the efficiency unit of the federal government in the ministry of…

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  • Segun Agbaje As Goldstandard

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    There is an agreement among banking professionals and the banking public is that one of today’s first tier banks in Africa, Guaranty Trust Bank Plc has been groomed to become a foremost African financial institution and a leading global brand and model to its peers. In the last 15 years, the bank has made remarkable…

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  • CBN Opens Forex Window For SMEs, Sells $141m

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    The Central Bank of Nigeria (CBN) has opened a special Forex window for Small and Medium Enterprises (SMEs) to enable SMEs import eligible finished and semi-finished items not exceeding $20,000 for an enterprise per quarter. Acting Director, Corporate Communication of the CBN, Isaac Okorafor, in a statement yesterday said  the apex bank’s special intervention was…

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  • CBN Sustains Dollar Supply To Forex Market With $418m

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    In its determination to ensure constant supply of foreign exchange liquidity in the market and strengthen the Naira against the Dollar, the Central Bank of Nigeria (CBN) on Friday 7th April 2017 auctioned the sum of $418 million at the retail-SMIS at a marginal rate of N310/$. The airlines, agriculture, petroleum and raw materials/machineries sub…

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  • FG Clears N54bn Pension Arrears

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    In response to agitation of federal pensioners who recently protested to some of its agencies including ministry of finance, the federal government yesterday announced that it has cleared the inherited arrears of accrued pension benefit for the years 2014, 2015 and 2016. The federal government released N41.5 billion to the National Pension Commission (PENCOM) for…

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  • GEM: World Bank Gives 81 Nigerians N756.3m

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    The World Bank, under its Growth and Employment (GEM) project, has approved the sum of N756.3 million for disbursement to 81 young Nigerian innovators who participated in the 2016 Aso Villa Demo Day (AVDD) – one of the economic empowerment initiatives of the present administration. A document obtained from the World Bank-funded GEM project indicated…

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