Commercial Banks Own CBN N950b -Report
Commercial and merchant banks took cumulative loans worth N949.91 billion from the Central Bank of Nigeria (CBN) within three months, the apex bank’s quarterly economic report has shown. The report…
Union Bank Sells UK Subsidiary
Union Bank of Nigeria (UBN) Plc has entered a share sale and purchase agreement to divest its 100 per cent equity stake in its United Kingdom (UK) subsidiary, Union Bank…
Lagos Airport Recorded 96,621 Aircraft Movements In 2019
The Murtala Muhammed International Airport Lagos recorded 96,621 aircraft movements last year, figures obtained from the Federal Airports Authority of Nigeria have shown. It also handled 187.49 million cargo and…
Green Energy Set For Phase Two Well Construction
Green Energy International Limited, (GEIL), the operator of the Otakikpo marginal field in Oil Mining Lease (OML) 11 with operational base at Ikuru town, Rivers State, has identified critical long-lead…
CBN Raises Banks’ CRR To 27.5%
The Monetary Policy Committee of the Central Bank of Nigeria on Friday altered the Cash Reserves Ratio from 22.5 per cent to 27.5 per cent. The Cash Reserve Ratio is…
Nigeria’s Total Debt Increases To N26.2tr – DMO
Nigeria’s total debt stock comprising the debts of the Federal Government, 36 states and the Federal Capital Territory (FCT) as at September 2019 now stands at N26.215 trillion Director General…
Nigeria, Ghana, 4 Others Reject ‘Eco’ Currency
The six member countries of the West African Monetary Zone (WAMZ) comprising Nigeria, Ghana, Gambia, Guinea, Liberia and Sierra Leone, have rejected the adoption of ‘Eco’ as the name of…
7.5% VAT Rate Takes Off -AGF
The implementation of the newly introduced 7.5 per cent hike in Value Added Tax (VAT) and related tax adjustments in the 2010 Finance Act has commenced, says Accountant-General of the…
Kaduna Seals-Off Banks Over N292m Tax Debt
The Kaduna State Internal Revenue Service (KADIRS) has sealed off three branches each of the First City Monument Bank (FCMB) and Keystone Bank in Kaduna. Our correspondent gathered that the…
CBN Defends Naira With $16.56b In 12 Months
THE Central Bank of Nigeria (CBN) spent nearly $16.56 billion to defend the naira in the last one year, The Nation has learnt. Analysis of the regulator’s half year report…
