Home | Tag Archives: CBN

Tag Archives: CBN

OIL FIRM CLEARS AIR IN FOREX DEAL

An oil firm, Bulk Strategy Reserve Company, says they are not into any foreign exchange deal with the Central Bank of Nigeria (CBN). This is however, contrary to claims from the apex bank that Bulk Strategy Reserve Company which is involved in oil and gas importation, collected $22 million. Secretary of the oil firm, Mr. Bean Amego, who cleared the ...

Read More »

NIA claims N13b seized by EFCC was received from CBN: We are not sure we paid billions to NIA – CBN responds

The Central Bank of Nigeria (CBN) has broken its silence over the controversial N13b recovered by Economic and Financial Crime Commission (EFCC) in an Ikoyi apartment in Lagos state. But despite claims by the National Intelligence Agency (NIA) that he approved and released the massive stash of cash recovered by the Economic and Financial Crimes Commission (EFCC) from an apartment ...

Read More »

FOREX control damaged business confidence and private investments, with massive capital flight – Prof Soludo

  Chukwuma Soludo, a professor of economic and a former governor of the Central Bank of Nigeria, CBN, has said the size of nation’s Gross Domestic Product  has shrunk from about $575 billion to about $354 billion.   Soludo said this on Friday, March 10, 2017 in Lagos at an economic talk shop, organised by the Vanguard newspapers.   The ...

Read More »

Four Skye Bank Executive Directors resign voluntarily

Skye Bank had on Friday confirmed that four of its Executive Directors have immediately left the bank. The bank said the affected directors who had served in executive management capacity for almost two years, left after voluntarily tendering their resignation. The affected directors who had been in executive positions were also part of the re-constituted board of the bank since ...

Read More »

Dangote Group of Companies has established a $100 million truck assembly plant in Lagos

Dangote Group of Companies has established a $100 million truck assembly plant in Lagos as part of its efforts toward boosting foreign exchange and job creation in the country. The group said in a statement on Sunday in Lagos that the plant was floated by the group in partnership with National Heavy Duty Truck Group Company Limited, SINOTRUK, a Chinese ...

Read More »

Stop investing in MMM it is an embarrassment to the nation – CBN warns Nigerians again

The Central Bank of Nigeria (CBN) has once again cautioned Nigerians against investing in the ponzi scheme, Mavrodi Mundial Moneybox (MMM), The Nation reports.   CBN Director of Development Finance Dr. Mudashiru Olaitan gave the warning at a business leaders’ conference with the theme: “Prospering in a recession”, organised by EZ37 Solutions in Ibadan.     According to him, Nigerians ...

Read More »

Join The Conversation: Dollar Scarcity- Who Is To Blame

African Free Press hits the streets to know what’s on the mind of Nigerians- why don’t you join the conversation? Let your voice be heard. Share

Read More »

The presidency’s response to the Emir Muhammadu Sanusi II is most pedestrian – Reno Omokri

The presidency’s response to the Emir of Kano, Emir Muhammadu Sanusi II is most pedestrian. How can anyone in his right mind call Sanusi Lamido ‘ignorant’! Really? Ignorant!! Even if Garba Shehu was directed to issue that statement he should also direct his mind to know that there is life after directives! Even before President Muhammadu Buhari indicated an interest ...

Read More »

APC once celebrated Emir Sanusi, how sad the Presidency now calls him ignorant –  Senator Ben Bruce

A great drama is currently playing out between the Emir of Kano, Emir of Kano, Muhammad Sanusi II, and the presidency.   The presidency on Saturday, December 3, faulted the Emir who criticized the financial policies of President Muhammadu Buhari’s administration, while accusing the Central Bank of Nigeria (CBN) of illegally lending to the federal government.   Shehu, a senior ...

Read More »

$29.9b Loan: Emir Sanusi does not have his facts as far as those issues are concerned – FG

Malam Garba Shehu, the Senior Special Assistant on Media and Publicity to the President, said the money is meant for the execution of developmental projects across the country. President Muhammadu Buhari had in October requested the National Assembly to approve a foreign loan of 29.9 billion dollars to fund developmental projects across the country between 2016 and 2018. However, the ...

Read More »