The “419”, otherwise known as advance fee fraud, scam is well-known in Nigeria for boasting empty promises of stupendous returns which induce victims to willingly part with their valued possessions. These fraudsters, ply their trade nationwide with targets which cut across the social spectrum and...

The capital adequacy ratios of a number of Nigerian banks will come under increasing pressure should the weakness in the naira and crisis in the nation’s oil sector persist, Fitch Ratings has said. CAR, which is a measure of a bank’s capital, is used to...

There is no truth whatsoever in speculations that the naira has been devalued or that a devaluation is imminent, the Central Bank of Nigeria (CBN) has said. The bank's Acting Director of Corporate Communications Department, Isaac Okorafor, described the speculations as the handiwork of those...

The naira, which came under pressure last week following the partial deregulation of the downstream petroleum sub-sector, has to be devalued, with a flexible foreign exchange policy put in place, industry experts have said. The currency had on Friday plunged to 360 against the United...