$2.4bn FX Backlog Was Marred by Infractions, CBN Governor Says The governor of the Central Bank of Nigeria, Dr Olayemi Cardoso, has said that about $2.4bn of the $7bn foreign exchange backlog he met when he got into office were from non-existing entities, requests without...

NNPCL will Resume Kolmani Oil Exploration Soon – Senator Buba The Senator representing Bauchi South, Shehu Umar Buba, has said that the Nigerian National Petroleum Company Limited (NNPCL) will resume oil exploration this month in the Kolmani oil field between Bauchi and Gombe states. Buba, who...

Over 30 Oil Blocks Under Concession to IOCs, Others – NNPCL No fewer than 36 oil blocks are under concession to international oil companies operating in Nigeria and their indigenous counterparts in the country, latest data from the Nigerian National Petroleum Company Limited showed. An analysis...

IFC Set to Onboard BoI, Others for Long-term, Low Interest Financing The International Finance Corporation (IFC) is set to onboard the Bank of Industry (BoI) and some Deposit Money Banks (DMBs) and corporates to enable them access long term, low interest funding to support Nigeria’s...

Ahead Tenure Expiration, LivingTrust Mortgage MD Resigns Mr. Adekunle Adewole has resigned as the Managing Director of LivingTrust Mortgage Bank. His resignation was contained in a corporate notice filed with the Nigerian Exchange Limited stating that he voluntarily resigned his position, ahead of the expiration of...

Dollar Supply Rises by 180% in FX Market as Banks Sell $440m Dollar supply in the official foreign exchange market rose by 180.59 percent to $440.13m on Friday. This is as the naira closed the week at N1435.53/$ on Friday after what was a turbulent week. According...