CBN Unveils New Minimum Capital Requirements, Gives Banks 24 Months to Recapitalise Days after urging Nigerian banks to expedite action on the recapitalisation of their capital base in order to strengthen the financial system, the Central Bank of Nigeria (CBN) on Thursday, unveiled new minimum...

Analysts Predict Fall in Market Investors over High Interest Rate  Analysts have stated that the decision of the Monetary Policy Committee to raise the benchmark interest rate by two per cent to 24.75 per cent would make the equity market less attractive to investors. The Governor...

PECC: Tinubu Names Dangote, Elumelu, Rabiu, Others as Economic Team Advisors  President Bola Tinubu has approved the establishment of the Presidential Economic Coordination Council (PECC) and the Economic Management Team Emergency Taskforce (EET) to tackle the prevailing economic challenges in the country. Presidential spokesman Ajuri Ngelale...

NNPCL Faults Report on Fuel Pump Price Adjusting The Nigerian National Petroleum Company (NNPC) Limited has disputed reports that its retail outlets have adjusted the pump price of premium motor spirit (PMS), commonly known as petrol. There have been speculations that NNPC had reduced the price...

Naira Appreciates, Sell for N1,350/$ in parallel market, Remains N1,251 in CBN The naira yesterday appreciated to N1,350 per dollar in the parallel market from N1,430 per dollar on Monday. Similarly, the naira yesterday appreciated to N1,382.95 per dollar in the Nigerian Foreign Exchange Market (NAFEM). Data...

Cardoso Assures on Banks’ Stability, Says MPC Decisions Target Increased Purchasing Power The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) in its 294th meeting held on Monday and Tuesday reviewed recent economic and financial developments in the country. In a communique issued...