The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele told the Senate that the ban placed on cryptocurrency transactions was a step to protect Nigerians involved in banking. Emefiele explained the rationale behind the CBN’s directive to commercial banks to stop accounts meant for cryptocurrency. The CBN Governor, who appeared before the…
ECONOMY
Cryptocurrency: We Acted in Nigerians’ Best Interest – Emefiele
The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele says the Bank’s decision to prohibit deposit money banks, non-banking institutions and Other Financial Institutions from facilitating trading and dealings in cryptocurrency is in the best interest of Nigerian depositors and the country’s financial system. Mr. Emefiele made the declaration on Tuesday, February 23, 2021,…
Fed Govt to engage 500,000 youths in gas accessories enterprise
The Federal Government has said it will engage about 500,000 Nigerian youths under its National Gas Expansion Programme (NGEP). The Minister of State for Petroleum Resources, Chief Timipre Sylva, stated this yesterday in Ado-Ekiti, the Ekiti State capital, while kick-starting the programme. Sylva said the programme was primarily designed as part of President Muhammadu Buhari’s…
FG Poised To Do Much More Through ESP – Presidency
The Presidency has said that Nigeria’s prompt exit from recession is a key indicator of the success of the ongoing Economic Sustainability Plan approved by the Federal Government. This indication was given over the weekend by Mr. Laolu Akande, Senior Special Assistant to the President on Media and Publicity in the Office of the Vice…
SEC urges mentoring to sustain sound banking
Senior bankers in the banking sector have been urged to mentor the younger generation to ensure sustainability, safety and soundness of the banking and finance industry. Director-General, Securities and Exchange Commission, Mr. Lamido Yuguda gave the advice at the relaunch of the Chartered Institute of Bankers of Nigeria (CIBN) Mentoring Scheme, with the theme, “Mentoring:…
Cryptocurrency ban in Nigeria: CBN, SEC to provide level field for investments
The Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) have agreed to collaborate and conduct research with a view to finding ways of regulating the Cryptocurrency market. They said this at a virtual lecture organised by the Association of Capital Market Academics of Nigeria (ACMAN) in Abuja on Sunday. Mr. Timi…
NBS ranks Abia third for 2020 capital inflow
The National Bureau of Statistics (NBS) has ranked Abia State as the third state with top capital inflow in 2020. According to NBS, “By destination, Lagos emerged as the top destination of capital investment in Nigeria with $8.3 billion, followed by Abuja, which received $1.3 billion. “The others on the list are Abia State with…
FG to redeem N31.4b debts owed states
The Federal Government will tomorrow release over N31.4 billion to state governments in keeping with its obligations to service its debts. The state governments will be credited with N31,440,652,571 tomorrow when the promissory notes issued to them by the government on February 18, 2019 mature. A source at the Debt Management Office (DMO) indicated that the government…
On Zulum’s visit, NALDA names Borno official sacks producer for national rice programme
… To host flag-off in March The recently revived Borno Plastic Industry has been named official manufacturer of millions of sacks for the packaging of rice being cultivated under a national food programme being undertaken by the National Agricultural Land Development Authority (NALDA). NALDA’s Executive Secretary, Prince Paul Ikonne made that announcement on Wednesday when…
Sanwo-Olu unveils 10-year infrastructure plan for Lagos, as Ehingbeti Summit begins
…President Buhari, WTO’s Okonjo-Iweala Support Lagos’ Growth Plan …‘It’s Time To Create Youth-Focused Economy’ – AFDB President Lagos State has set off an ambitious plan for its development over the next decade. By 2030, the State, which has the 5th largest economy in Africa, will have a running city-wide network of colour-coded Metro Lines that…