The Central Bank of Nigeria has explained the importance of e-naira, a digital currency it promised to launch in the country by the end of 2021. According to the CBN, the country’s adoption of digital currency would boost cross-border trade and enable the apex bank to formulate better macroeconomic policies. The Director, Information and…

A notable member of the Institute of Chartered Accountants of Nigeria (ICAN) and Managing Director of First City Monument Bank (www.fcmb.com), Mrs. Yemisi Edun, has called on the foremost professional accountancy body and its affiliates to prioritise leadership development programmes for female accountants. She made the call during the investiture of Mrs. Catherine Nnaji…

Group managing director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari has said that the allocation of three percent oil companies operating expense to host communities is higher than 30 percent of profit oil and gas for frontier exploration which is mostly in Northern communities. Appearing on an NTA interview programme on Tuesday…

The Central Bank of Nigeria (CBN) has explained why there is recent sharp depreciation of Naira against the United States Dollar. Responding to questions from members of the House of Representatives Committee on Finance during the 2022-2024 MTEF/FSP stakeholders interactive session on Monday August 16, CBN Deputy Governor, Corporate Services, Edward Adamu blamed the depreciation on COVID-19…

Billionaire Microsoft founder, Bill Gates has revealed he regrets his relationship with Jeffrey Epstein, the wealthy financial manager who was accused of child sex trafficking, before he committed suicide in 2019. Speaking with CNN’s Anderson Cooper, Gates said he only met with Epstein in the hopes of raising more money to deal with global health…

Gunmen suspected to be armed robbers have reportedly catered away N100 million from the Nasarawa State Ministry of Finance, Budget and Planning. The robbery incident occurred on Thursday in the premises of the Ministry adjacent to that of the State Accountant General, where there are many security personnel. An eyewitness, who sought anonymity, told Daily…

The Central Bank of Nigeria (CBN) has announced that it will be announcing its own digital currency on October 1, 2021. Nairametrics reported that the CBN alongside stakeholders picked Independence Day as its launch date. According to the publication, CBN’s IT Director, Rakiya Mohammed at the conclusion of the 306th Banker’s Committee meeting, disclosed that the…

Nigeria Customs Service has announced that from July 6, 2021 private jets in the country with unverified documents will be impounded. Public Relations Officer of NCS, Joseph Attah told newsmen on Monday June 21 that private jet owners have been given a one-month grace period in line with an ongoing audit of privately-owned aircraft operating…

The Naira has crashed to a four-year low in the parallel market after the Central Bank’s efforts to coax banks to sell more Dollars to customers failed to bridge the widening gap between the official and street rates. Unauthorized dealers were offering the naira at 502 per dollar on Wednesday, June 16, from 500 last…