The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has increased the official interest rate by 50 basis point, in a consistent tightening policy measure to tame inflation in Nigeria. With the new increase in the monetary policy rate, the CBN has capped official interest rate at 18 per cent from 17.5 […]
Nigeria’s inflation rate rose for the second consecutive month in February to 21.91 percent from 21.82 percent in the previous month, according to the latest inflation report released on Wednesday by the National Bureau of Statistics (NBS). In recent months, Nigerians have faced an unprecedented cash crunch as a result of the naira redesign policy […]
The Debt Management Office (DMO) on Tuesday offered four Federal Government of Nigeria (FGN) Bonds valued at N360 billion for subscription through auction. According to the DMO, the first offer is a February 2028 FGN Bond valued at N90 billion (10-year re-opening), at an interest rate of 13.98 per cent per annum. The second offer […]
The Central Bank of Nigeria (CBN) has fixed Monday, 20th March and Tuesday 21st March, 2023 for the 290th meeting of its Monetary Policy Committee (MPC). MPC is the highest policy-making committee of the CBN. Among other functions, the Committee has the mandates to: Review economic and financial conditions in the economy; Determine appropriate policy […]
The Central Bank of Nigeria (CBN) has barred agents from using Point of Sale (PoS) terminals meant for merchants to carry out cash-in and cash-out transactions. The apex bank disclosed this in a circular announcing the Exposure Draft of the Regulatory Framework for Agent Banking in Nigeria. Agent banking is a financial inclusion service which […]
A Federal High Court in Lagos has restrained the embattled Chief Executive Officer (CEO) of Seplat Energy Plc, Roger Brown, from participating in the running of the company for 7 days. However, Seplat has delegated authority to Samson Ezugworie, Chief Operating Officer, to act as CEO during the period that he is required to step […]
The Central Bank of Nigeria (CBN) has announced the issuance of operational guidelines for Open Banking in the country. The new guidelines will enable the sharing of customer-permissioned data between banks and third-party firms, with the aim of creating customer-focused products and services, improving efficiency, and promoting competition in the financial sector. This is possible […]
The Nigerian National Petroleum Company Ltd (NNPCL) and its partners have appointed NNPC Eighteen Operating Limited as operator of OML 18 to replace EROTON Exploration and Production Limited. The move which has been confirmed is to curtail further degradation of the asset and revamp production of oil and gas. The NNPC announced the latest decision […]
The Central Bank of Nigeria (CBN) has revised the regulatory requirements for the tenure of Executive Management and Non-executive Directors of Deposit Money Banks (DMBS) and Financial Holding Companies in the Code of Corporate Governance for Banks and Discount Houses (Ref. FPR/DIR/CIR/GEN/O1/004). The apex bank anmonced the development in a signed on Friday by its Director, Financial Policy and […]
Fidelity Bank Plc, has announced the appointment of Mrs. Pamela Shodipo as Executive Director, South Directorate following regulatory approval by the Central Bank of Nigeria. Pamela joins the Board of Fidelity Bank Plc with over 25 years multifunctional and cross-border banking experience at leading financial institutions covering general management and business origination in diverse segments […]
Barely few weeks to hand over the reigns of power to an incoming administration on May 29th, 2023, President Muhammadu Buhari has said he was eager to go. The President, said once he hands over power he would quickly embrace his love for farming and tending to over 300 cattles back home in Daura, Katsina […]
President Muhammadu Buhari, on Tuesday, in Abuja inaugurated the new Office of the National Security Adviser (ONSA) and National Counterterrorism Centre (NCTC), two state-of-the-art facilities to optimise efforts at addressing evolving security challenges in the country, especially terrorism and violent extremism. Speaking at the inauguration of the two world-class facilities, the President in a statement […]
The United States Government has said it will place visa restrictions on Nigerians responsible for election violence that undermined the democratic process during Saturday’s gubernatorial and state assembly elections. The US in a statement issued Tuesday by its Consulate in Nigeria, said it is deeply troubled by the disturbing acts of violence, voter intimidation, and […]
The Independent National Electoral Commission INEC has debunked a recent allegation against it. The INEC denounced an online report accusing its Chairman, Prof. Mahmood Yakubu of attempts to violate its guidelines and consequently distort the Governorship election result in Abia State. Chief Press Secretary to the INEC Chairman, Rotimi Oyekanmi, said the only communication sent […]
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has increased the official interest rate by 50 basis point, in a consistent tightening policy measure to tame inflation in Nigeria. With the new increase in the monetary policy rate, the CBN has capped official interest rate at 18 per cent from 17.5 […]
President-elect, Bola Ahmed Tinubu, has appealed to Nigerians to rise above the differences, which, in reality, are fewer than the valued strings that bind Nigerians together as a people as the elections are over. In a statement statement he personally signed, Tinubu condemned what he described as ethic slurs, physical and verbal attacks during and […]
The legal team of the presidential candidate of the Labour Party, Peter Obi, has filed a number of grounds why the Presidential Election Petition Court should nullify the declaration of the candidate of the All Progressives Congress, Bola Ahmed Tinubu, as president-elect by the Independent National Electoral Commission. DIPLOMATIC DIARY reports that the court acknowledged […]
The Chief Whip of the Senate, Orji Uzor Kalu has declared his intention to contest for Senate presidency in the 10th National Assembly. Kalu, who has won re-election to represent Abia North in the Red Chamber, was the first aspirant to declare his interest in the number three position. He made the declaration while briefing […]
The Peoples Democratic Party (PDP) has warned the Independent National Electoral Commission (INEC) against throwing the country into anarchy over announcement of results of the February 18 gubernatorial elections. National Chairman of the PDP, Iyorchia Ayu, issued the warning at a press briefing in Abuja on Monday. He accused INEC officials of allegedly conniving with […]
President Muhammadu Buhari has approved the reappointment of Idris Musa as Director-General of the National Oil Spills Detection and Response Agency (NOSDRA). His appointment is contained in a statement issued on Tuesday by Olusegun Shogbola, Media Aide to the Minister of Environment, Mohammed Abdullahi, on behalf of the Minister. According to the statement, the reappointment […]
