Policy

CBN Extends BVN Registration
Policy

CBN Extends BVN Registration

The CBN has announced an extension to the compulsory Bank Verification Number, BVN registration exercise. In a press release signed by Dipo Fatokun Director, Banking & Payments System Department, he said the new date for all customers to register has been extended to the 1st of January, 2016. See statement below: […]

CBN Insist Banks Must Write-Off NPLs
Policy

CBN Insist Banks Must Write-Off NPLs

The Central Bank of Nigeria, CBN has insist that banks must write-off by making immediate provision for all non-performing loans in their books instead of waiting for the mandatory full year. In a letter issued by Tokunbo Martins, CBN’s Head of Banking Supervision said: “The CBN acknowledges the request by […]

These Are The Contingency Plans Behind NIFEX
Policy

These Are The Contingency Plans Behind NIFEX

The Nigerian Inter-bank Foreign Exchange Fixing, NIFEX is the FMDQ OTC Securities Exchange reference rate for Foreign Exchange (FX) spot operations in the Nigerian FX market. NIFEX is an FX reference rate intended to represent spot FX market rates that are polled independently and objectively. NIFEX is published every business […]

NNPC Explains Its NGN26.51 Billion Net Loss
Policy

NNPC Explains Its NGN26.51 Billion Net Loss

The Nigerian National Petroleum Corporation, NNPC made a net loss of NGN26.51 billion for the month of June. However, the corporation has given out its position on the result. The corporation said its operations witnessed the major impact of incessant vandalism; during the month more than 261 vandalized points were recorded […]

Olisa Metuh Debunks Links With NDA
Policy

Olisa Metuh Debunks Links With NDA

Olisa Metuh, the former National Publicity Secretary of the People’s Democratic Party, PDP, Nigeria’s main opposition party has denied allegations that he is a sympathiser of the terror group called the Niger Delta Avengers, NDA. In a press statement, Metuh said: “My attention has been drawn to a false and […]

Obasanjo Denies Re-joining PDP
Policy

Obasanjo Denies Re-joining PDP

Former President Olusegun Obasanjo has denied ever going back to the Peoples Democratic Party, PDP. The PDP is Nigeria’s main opposition party that lost power to the All progressive Congress, APC. In a press statement just released by the office of the former president, he described the claim as false […]

Jibrin Officially Writes EFCC Against Dogara
Policy

Jibrin Officially Writes EFCC Against Dogara

Abdulmumin Jibrin, the former Chairman on Budget and Appropriation has finally written the Economic and Financial Crimes Commission, EFCC to level serious allegations of corruption against Yakubu Dogara, the Speaker Federal House of Representatives. Nigeria’s federal House of Representatives has come under a fresh scandal on the padding of the […]

AMCON Reports NGN304.35 Billion Loss In 2015
Policy

AMCON Reports NGN304.35 Billion Loss In 2015

After reviewing the value of collaterals in its loan books, the Asset Management Company of Nigeria, AMCON said it made a net loss of NGN304.35 billion in its audited 2015 result. Non-performing loans, NPLs ratios rose by 93% in 2015, compared to 57% reported last year. AMCON has tried to cut […]