CBN Orders Banks To Accept Cheques In Savings Account

August 3, 2016
Banks operating in Nigeria have been directed by the Central Bank of Nigeria, CBN, to now accept cheque deposits into savings account. This directive was contained in a circular dated July 28, 2016, signed by CBN’s Director, Banking & Payments System Department, Dipo Fatokun, and sent to all banks and financial institutions operating in the country. In the circular made

Excitement As FG Okays Badagry Seaport

August 4, 2016
There is excitement in the air following the approval for the establishment of a seaport in Badagry, Lagos. At the moment, the Nigerian Ports Authority (NPA), which controls seaports in Nigeria, is in charge of the two ports in Lagos; the Lagos Port Complex and the Tin Can Island Port. On Wednesday, after the Federal Executive Council (FEC), Minister of

CBN Orders Banks To Sell Dollar To Hajj Pilgrims At N197

August 5, 2016
Banks and Forex dealers in Nigeria have been instructed to sell the US Dollar to intending pilgrims at the rate of N197 to $1. The Central Bank of Nigeria, CBN, gave this directive on Thursday. The country’s apex financial institution said those travelling for the 2016 Hajj in Saudi Arabia later this month and want the Pilgrims Travelling Allowance, PTA,

Commercial Activities Shutdown In Sagamu

August 5, 2016
Report reaching BusinessPost from Ogun State reveals that business activities would be put on hold for a while because of the burial rites of late Akarigbo of Remoland, Oba Michael Adeniyi Sonariwo, who passed away last month. BusinessPost learnt that on Saturday, August 6, 2016, all shops and commercial centres in Sagamu would be shut to honour the late monarch.

FG Moves To Cut Power Consumption

August 6, 2016
  The Nigerian government says it has taken steps to reduce power consumed by households, businesses and government agencies in the country by 85 per cent. This was disclosed on Friday in Lagos by the Minister of Science and Technology, Dr Ogbonnaya Onu, while addressing newsmen. The Minister said the idea was due to the need to diversify the Nigerian
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IDEC Process

Tax Incentives: FG to Give Clarity on Revised IDEC Process April 23

April 16, 2024
By Modupe Gbadeyanka The federal government has invited manufacturers, importers, MDAs, NGOs and all other key industry stakeholders to a meeting to provide clarity on the revised Import Duty Exemption Certificate (IDEC) process. A statement signed on Monday by the Director for Information and Public Relations in the Ministry of Finance, Mohammed Manga, said the event, slated for Tuesday, April 23,



naira street value

Naira Now N1,136/$1 Amid Persistent Inflationary Pressures

By Adedapo Adesanya The Naira appreciated further against the United States Dollar by 0.6 per cent or N6.34 at the Nigerian Autonomous Foreign Exchange Market (NAFEM) segment of the foreign exchange (FX) market on Monday, April 15, trading at N1,136.04/$1 compared with
April 16, 2024
oil prices fall

Oil Prices Slip as Iran Attack on Israel Concerns Ease

By Adedapo Adesanya Oil prices slipped on Monday after Iran’s weekend attack on Israel proved to be less damaging than anticipated, easing concerns of a quickly intensifying conflict that could affect the crude market. Brent futures settled at $90.10 a barrel, down
April 16, 2024
Chiedu Ebie NDDC Chairman

Transformative Power of NDDC Board and Management

By Jerome-Mario Utomi This piece was inspired by a recent statement credited to the Chairman of the Niger Delta Development Commission (NDDC) Chiedu Ebie, when a delegation of Concerned Agbor Citizens (CAC) visited him at his residence to congratulate him on his
April 15, 2024
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