Finance articles

Breaking: We hope to pass budget next week, Saraki, Dogara Assure President Buhari

Breaking: We hope to pass budget next week, Saraki, Dogara Assure President Buhari

Senate President Bukoka Saraki and House of Representatives Speaker Yakubu Dogara have ruled out the possibility of passing the 2018 budget this week. They both met behind closed doors with President Muhammadu Buhari at the Aso Rock Presidential Villa in Abuja Monday. Addressing State House correspondents after the the meeting which lasted 30 minutes, Saraki

Mixed reactions trail CBN’s move to sanction bank CEOs

Shareholders have expressed mixed reactions to plans by the Central Bank of Nigeria (CBN) to sanction Chief Executive Officers (CEOs) of banks that fail to submit audited results of their banks after 12 months. The shareholders expressed their view in separate interviews with the our reporters in Lagos on Friday, while reacting to the apex

Currency Swap Deal: Nigeria, China To Exchange N.72 Trillion

China’s central bank said Thursday that it has inked a currency swap agreement with its counterpart in Nigeria. The agreement will allow the two sides to swap a total of 15 billion Chinese yuan (2.35 billion dollars) for 720 billion Nigerian naira, or vice versa, in the next three years, the People’s Bank of China

US revokes AIT owner Dokpesi’s visa

The chairman of DAAR communications, Raymond Dokpesi is saying the US has revoked his visa after he was accused of looting Nigeria’s treasury. Lai Mohammed, minister of information, had listed Dokpesi, among other chieftains of the Peoples Democratic Party (PDP), as those who looted public funds. Dokpesi is currently standing trial for allegedly receiving N2.1

Breaking: Fire scare at CBN headquarters

There was confusion at the headquarters of the Central Bank of Nigeria following scare of a fire outbreak at the premises of the apex bank. The fire was said to have started at about few minutes past six and lasted for about 30 minutes before it was put out. Our correspondent who visited the headquarters

EFCC charges Globacom with $6.7m fraud

The Economic and Financial Crimes Commission has charged telecommunications company, Globacom Limited, before the Lagos State Special Offences Court in Ikeja for an alleged fraud of $6,786,674.61. The firm was charged alongside its Indian Chief Marketing Officer, Ashok Israni, who was listed as the first defendant in the case. The one count filed before Justice

$322.5m Abacha loot: APC group commends Finance minister, Adeosun, on full disclosures

All Progressives Congress (APC) Grassroots Youth for Change at the weekend commended the Minister of Finance, Mrs. Kemi Adeosun, for debunking reports in some sections of the media in respect of the recently repatriated $322.5 million Abacha loot from Switzerland. National Coordinator of the group, Mr. Orlu Henry Manuchimso, said the clarifications that the money