FAAC Meeting Deadlocked As States, LGs Protest $418m Paris Refund Deductions     A meeting of the Federation Account Allocation Committee (FAAC) for October 2021, held last Friday, was inconclusive as states and local governments resisted the commencement of deductions in relation to the $418 million judgement...

President Muhammadu Buhari will formally unveil the Nigerian Central Bank Digital Currency, known as the eNaira, on Monday, at the State House, Abuja. CBN spokesman, Osita Nwanisobi, said this in a statement titled ‘President Buhari to unveil eNaira on Monday, 25 October...

Governor of the Central Bank of Nigeria (CNN), Godwin Emefiele, has said medical tourism is straining Nigeria’s foreign reserves. The CBN governor spoke at an event to launch a privately-owned new 100-suit health facility, Duchess International Hospital, in Ikeja, Lagos. He called on the...

Nigeria Losing $3bn To Illegal Mining - NEITI   The Director, Technical, Nigeria Extractive Industry Transparency Initiative, Dr Dieter Bassi, has said Nigeria is losing $2bn-$3bn to illegal mining. He said this during a town hall meeting on the dangers of foreign illegal mining in Nigeria on...

In Three Weeks, External Reserves Gain $3.98bn, Hit $40.76bn   Nigeria’s external reserves gained $3.98bn in three weeks, rising above the $40bn mark, according to data obtained from the Central Bank of Nigeria. The CBN data showed that the reserves rose to $40.76bn on October 20 from...

Reps Threaten Bank With Takeover Over Debt   The House of Representatives, on Thursday, threatened that it will ask the Central Bank of Nigeria to take over the ownership of Heritage Bank of Nigeria for owing the Federal Government more money than its entire share capital. The...