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...

The Naira yesterday (Thursday) depreciated in the parallel market to N1,540 per dollar from N1,530 per dollar on Wednesday. Similarly, the Naira yesterday depreciated to N1,533.99 per dollar in the Nigerian Autonomous Foreign Exchange...

The Federal Government has concluded plans to ensure marketers open Compressed Natural Gas Pumps in filling stations across the country. As such, the government said intending retail licensees would be now required to establish...