Federal High Court in Lagos has frozen the bank accounts of four companies linked to a former Minister of Aviation, Stella Oduah, over alleged indebtedness of $16,412,819.06 and N100,493,225.59. The four companies whose accounts were frozen in 21 commercial banks...

Sen. Ahmed Ogembe (PDP, Kogi Central), has expressed optimism that the moribund Ajaokuta Steel Complex would soon be revived. The News Agency of Nigeria (NAN), reports that the firm, established about 40 years ago, has yet to resume production of...

The Central Bank of Nigeria (CBN) will auction $230 million in forward contracts on the official market on Thursday after selling $370 million this week to boost dollar liquidity and help narrow the gap between the official and black...

The Central Bank of Nigeria has carried out a wholesale intervention in the interbank foreign exchange market with the release of $370.8m to 23 Deposit Money Banks. The amount, which was confirmed in a statement by the Acting Director, Corporate...

As of September 30, 2016, the Federal Government’s indebtedness to local creditors stood at N10.8tn, while external debt was $11.5bn. The Minister of State for Budget and National Planning, Zaynab Ahmed, disclosed this at the presentation of the budget implementation...

The executive directors of the International Monetary Fund have adopted a proposal to promote Islamic Banking (IB) due to its popularity in the global financial system. The board, at the end of its first formal discussion on IB, adopted a...