The Federal Government’s ban on the export of Liquefied Petroleum Gas, popularly called cooking gas, has led to a crash in the cost of the commodity from about N1,500 per kilogram to around N900/kg,...

There is commotion at the Heritage Bank office in Calabar where angry customers have threatened to break down the facility if their deposits are tempered with. Hundreds of customers as early as 7am on...

The Central Bank of Nigeria (CBN)said it has no plans to revoke the licences of Unity, Polaris, and Keystone banks. An online report had claimed that the CBN would withdraw the licences of the...

The Nigerian Deposit Insurance Commission has commenced the liquidation process of failed Heritage Bank with verification and payment of the bank depositors. NDIC disclosed this on Monday following its appointment as liquidator of Heritage...

By Sanusi Abdullahi Oyelekan.   The Central Bank of Nigeria (CBN) has revoked the license of Heritage Bank Plc with immediate effect. This decision, it said, was to maintain a stable and healthy financial...

The Central Bank of Nigeria on Friday, announced that international oil companies can sell their retained 50 per cent of repatriated export proceeds in the Nigerian Foreign Exchange Market. This decision comes after the...

The Association of Bureau De Change Operators of Nigeria has demanded that the Central Bank of Nigeria reverse the new capital requirement for its operations. In a circular issued last Wednesday, the CBN issued...

The naira appreciated to 1,339.33/$ at the close of trading on the official window on Monday, gaining 9.68 per cent over Friday’s 1,482.81/$. According to FMDQ data, which houses the Nigerian Autonomous Foreign Exchange...

The 210,000-barrel-per-day Port-Harcourt refinery may finally commence operations by the end of July after several postponements. The new date was disclosed on Monday by the National Public Relations Officer, Independent Marketers Association of Nigeria,...

The naira appreciated by N90 on the parallel segment of the foreign exchange (FX) market yesterday, as it closed at N1,450/$1, compared to the previous day’s rate of N1,540/$1. The positive trend extended to...