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INTERVIEW: Unsettled FX backlog truncated businesses with loan obligations, says MAN DG

    INTERVIEW: Unsettled FX backlog truncated businesses with loan obligations, says MAN DG

Despite being the backbone of the economy, the manufacturing sector is often at the receiving end of many government policies. With several ongoing fiscal and monetary reforms under the administration

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OPay: We’re working with CBN to fight money laundering | Customers’ funds are safe

    OPay: We’re working with CBN to fight money laundering | Customers’ funds are safe

OPay, a Nigerian-based financial technology firm, has assured customers that their funds and data are safe. The fintech firm spoke in a statement signed by the management on Monday. The

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FX transactions: CBN directs fintechs to halt registration of new customers

    FX transactions: CBN directs fintechs to halt registration of new customers

Two Nigerian fintech companies have paused enrollment of new customers following a directive from the Central Bank of Nigeria (CBN). The affected fintechs are Opay and Moniepoint. Confirming the development

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Report: NNPC owes $3bn backlog on petrol payments to fuel traders

    Report: NNPC owes $3bn backlog on petrol payments to fuel traders

The Nigerian National Petroleum Company (NNPC) Limited owes around $3 billion to fuel traders for imported petrol. According to Reuters on Monday, three sources confirmed the development. The debt is

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Report: FG to begin sale of domestic FX-denominated bonds in Q2 2024

  Report: FG to begin sale of domestic FX-denominated bonds in Q2 2024

The federal government says it has plans to start issuing domestic foreign currency-denominated bonds from the second quarter (Q2) of

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Agora Policy to FG: Cancel domestic crude allocation to boost FX inflows, stabilise naira

  Agora Policy to FG: Cancel domestic crude allocation to boost FX inflows, stabilise naira

Agora Policy, an Abuja-based think tank, has urged the federal government to cancel the policy of budgeting for domestic crude

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‘Prioritise FX allocation, cut number of BDCs’ — MAN advises FG on reviving manufacturing

  ‘Prioritise FX allocation, cut number of BDCs’ — MAN advises FG on reviving manufacturing

The Manufacturers Association of Nigeria (MAN) says the outlook for the production sector in 2024 may not be a positive

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CPPE to CBN: Intensify efforts to stabilise forex rate, address inflation

  CPPE to CBN: Intensify efforts to stabilise forex rate, address inflation

The Centre for the Promotion of Private Enterprise (CPPE) has urged the Central Bank of Nigeria (CBN) to intensify efforts

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Dangote: We’ve repatriated over $687m through our Africa operations

  Dangote: We’ve repatriated over $687m through our Africa operations

Dangote Industries Limited (DIL) says over $687 million has been repatriated to the Central Bank of Nigeria (CBN), so far,

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CBN begins clearing of FX forward backlog

  CBN begins clearing of FX forward backlog

The Central Bank of Nigeria (CBN) has started clearing the foreign exchange (FX) forwards backlog in banks. Payment commenced on

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