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FG Releases Details Of Paris Club Payment To States

FG has released details of Paris club payment to states Details of money paid to states and local governments in respect of the second tranche of Paris Club refunds have been released by the FG - Akwa Ibom, Bayelsa, Delta, Kano and Rivers received the largest sum of N10 billion

Pipeline Explosion: NNPC Subsidiary, IDSL, Denies Responsibility

nnpc pipeline explosion

IDSL, a Subsidiary of Nigerian National Petroleum Corporation, NNPC, has explained that it was not responsible for the pipeline explosion which occurred Thursday at a Nigeria Liquefied Natural Gas Limited, NLNG, pipeline in Emohua Local Government Area, Rivers State. IDSL said its operation crew which was engaged in acquiring seismic data

Cashless Policy: Strict Implementation Starts April – CBN

Barring any last minute change, the cashless policy of the Central Bank of Nigeria (CBN) is expected to go nationwide next April, with the implementation staggered for four month. In a circular on the nationwide implementation of the policy sent to all the commercial banks on Thursday by the Director of

CBN Moves To Rescue Naira, Injects $370.9m Into Interbank Forex Market

In order to ease difficulties Nigerians encounter in funding foreign exchange transactions, which has affected exchange rates of naira in the parallel market, the Central Bank of Nigeria, CBN, on Tuesday intervened in the interbank FOREX market by injecting a total of $370.9 million to the wholesale market through 23

CBN Threatens to Sanction Banks Over Non-Remittance of NCDF Fund

The Central Bank of Nigeria (CBN), has vowed to sanction banks over the non-remittance of Nigerian Content Development Fund (NCDF) in their custody. CBN Governor, Mr. Godwin Emefiele, gave the warning at a Stakeholders Forum on NCDF Remittances organised by the Nigerian Content Development and Monitoring Board (NCDMB) held in Lagos

Economists, Industrialists Blast FG Over Food Prices Task Force

Prominent Nigerians including renowned economist, elder statesman and industrialist, Pat Utomi, yesterday slammed the Federal Government for raising a task force on food prices. However, others backed the government over the proposed hike on Value Added Tax (VAT) on luxury items. It was the decision of the Federal Executive Council (FEC) meeting

CBN Queries Banks Over Inaccurate Forex Data

  The Central Bank of Nigeria (CBN) has queried some deposit money banks (DMBs) for feeding it with inaccurate information on their foreign exchange (forex) sales. Making this fact known in Abuja over the weekend, the Acting Director of Corporate Communications, Isaac Okorafor, said some affected banks have responded to the queries