The Central Bank of Nigeria is in the process of stopping issuers of dud cheques (returned cheques) from opening current account, the Deputy Director, Banking Supervision, CBN, Mr. Stephen Nwadiuko, has said. He said the CBN was working on the...

The activities of pipeline vandals and oil thieves are taking a toll on the operations of the Nigerian National Petroleum Corporation (NNPC) as the oil firm suffered 1,447 incidents of pipeline breaches between January and May 2016. The Group Managing...

The Federal Executive Council has approved the Medium Term Expenditure Framework and Fiscal Strategy Paper for 2017 to 2019, thus kick-starting the preparation of the 2017 budget. The approval was given at a meeting of the council presided over by...

Dr Ezekiel Oseni has been appointed as the new Acting Managing Director for the National Economic Reconstruction Fund, NERFUND. His appointment according to a statement signed by the Permanent Secretary of the Federal Ministry of Finance, Mahmoud Isa-Dutse, was approved...

Statistics by the Nigerian Interbank Settlement Systems (NIBSS) shows that the country has a total of 31.2 million bank accounts that are not active in the banking system. According to the data hosted on the website of the NIBSS, there...

The naira is the worst performing currency this year among more than 150 currencies globally, the Bloomberg media has said. It has depreciated 37 percent against the dollar since the central bank abandoned its peg on June 20, while bond...