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BREAKING: CBN bans sale of forex to BDC

The Central Bank of Nigeria (CBN) on Monday announced immediate discontinuation of sale of Foreign Exchange (forex) to Bureau de Change (BDC) operators in the country. Mr Godwin Emefiele, the CBN Governor, made this announcement on Tuesday, while presenting a communique from the apex bank’s Monetary Policy Committee (MPC) meeting …

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Agricultural Commodity Notes: Lagos Set To Raise $2b

Lagos State has launched a process to raise $2 billion by floating agricultural commodity notes as part of the state’s strategic move to revolutionise agriculture and food production. As part of the arrangements, some top officials of the state government held stakeholder engagement meeting with the management of the Lagos …

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Nigeria’s Inflation Rate Declines To 17.75%

Nigeria’s consumer price index (CPI), a measurement of the rate of change in prices of goods and services, has declined to 17.75% in June from 17.93 recorded in May 2021. The ‘Consumer Price Index Report for June’ released by the National Bureau of Statistics (NBS) on Friday, means that the …

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FCMB confirms Yemisi Edun as CEO

First City Monument Bank, FCMB Limited has confirmed the appointment of Yemisi Edun as the substantive managing director of the bank. Her appointment followed the end of  service of the bank’s former Managing Director, Adam Nuru. In a statement, the Board said it reviewed media allegations made in late 2020 …

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FIRS nets N650bn in June

The Federal Inland Revenue Service on Wednesday, said it recorded a historic feat by raking in N650 billion in June, the highest in a month amid the COVID-19 pandemic. FIRS Executive Chairman, Mr Muhammad Nami, who disclosed this in a statement to the media in Abuja, said the feat was …

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