The Federal Executive Council (FEC) on Monday approved Nigeria’s full membership of the Asian Infrastructure Investment Bank (AIIB) as a non-regional member, marking a significant milestone in the country’s international economic engagement. The Council also approved the transmission of a bill to the National Assembly to establish the National Cocoa Management Board, in a bid…
Standard Chartered Bank has expressed strong support for Nigeria’s far-reaching economic reforms, describing them as a catalyst for investment inflows and sustained growth. A statement from the Ministry of Finance said the endorsement came during a high-level meeting between a delegation from the bank and the Minister of Finance and Coordinating Minister of the Economy,…
A former Chairman of Manufacturers Association of Nigeria (MAN), Dr Wale Adegbite, has called on the Federal Government to stabilise the exchange rate as a means of controlling inflation in the country. Adegbite made the call in an interview with the News Agency of Nigeria (NAN) in Ota, Ogun State on Wednesday. The former MAN…
Chief Executive Officer, the Centre for the Promotion of Private Enterprise (CPPE) Dr. Muda Yusuf has called on the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) to stop further increases in interest rates. He explained that pausing interest rate hikes would provide an opportunity for fiscal policy measures to address inflation….
By Ogunojuwo Monijesu The Central Bank of Nigeria (CBN) yesterday shifted the 299th meeting of its Monetary Policy Committee (MPC) earlier scheduled for February 17 and 18, to Wednesday, February 19 and Thursday, February 20, 2025. In a statement, the apex bank said the announcement puts paid to speculations around the date of the meetings…
Chairman, United Bank for Africa (UBA) Group Tony Elumelu has disclosed why he diversified from banking sector to oil & gas, power, healthcare, technology among other sectors of the economy. Speaking at the Legacy Builders Palm Beach Conference held in Florida, United States, on the theme: “Democratising Luck”, Elumelu said Africa remained a continent of…
First City Monument Bank (FCMB) is making dreams come true with its Millionaire Promo Season 10. The first draw, held nationwide on January 15, 2025, saw four lucky customers walk away with N1 million each, while 900 others received cash prizes up to N50,000. The new millionaires are Issa Aliyu, a farmer from Ilorin, Kwara…
The Central Bank of Nigeria (CBN) has projected that diaspora remittances are expected to rise to N31.7871 trillion when fourth-quarter (Q4) 2024 figures are released. The substantial increase in diaspora remittances was attributed to the reforms carried out by the CBN especially the foreign exchange (forex) reforms designed to attract more forex into the country….
The Central Bank of Nigeria (CBN) has waived N250,000 annual licence renewal fee for each Bureau De Change (BDC) operator for the 2025 financial year. In a statement, CBN Acting Director, Financial Policy & Regulation Department, Johnson Ojah, said the waiver of non-refundable annual licence renewal fee for existing BDCs aligns with the Regulatory and…
