In Two Years, CBN Spent N113.56bn To Print Naira   The Central Bank of Nigeria (CBN) spent N113.56 billion to print naira in two years, a report has said. The report from the Currency Operations Department of the CBN said the regulator spent N64.04 billion on printing...

AfDB Announces Largest Capital Increase Of $208bn   The African Development Bank on Thursday announced the largest capital increase in its history, with an almost 125 per cent jump from $93 billion to $208 billion. AfDB President, Akinwumi Adesina, hailed “a historic day” for the bank and...

Deepwater Royalty Increase May Cause $15bn Loss , Say IOCs   International oil companies and their local counterparts under the aegis of the Oil Producers Trade Section have said the Federal Government’s planned increase in deepwater royalty will worsen Nigeria’s competitiveness and make its $15bn planned...

FAO, EU Seal €40m Pact To Boost Sustainable Fisheries   The Food and Agriculture Organisation of the United Nations (FAO) has signed a €40 million, five-year programme (FISH4ACP), with the European Union (EU) to boost the development of sustainable fisheries and aquaculture in Africa, the Caribbean...

FIRS, First Bank Seek Out Of Court Settlement In N25bn Damages Suit   FIRS Executive Chairman, Babatunde Fowler Federal Inland Revenue Service (FIRS) and First Bank Plc have opted for out of court settlement in a N25 billion damages suit filed against them by an indigenous...

CBN Okays N19bn For Nine Cotton Plants’ Revival     The Central Bank of Nigeria has approved a fresh loan of N19.18bn to nine cotton producing firms with a view to retooling their processing plants. The apex bank has also set aside the sum of N500m to recycle...