Economy

CBN Warns Banks against Circulating Mutilated Naira Notes as Apex bank introduces clean note policy

he Central Bank of Nigeria (CBN) counseled commercial banks to stopĀ  dispensing unfit naira notes either over the counter or through Automated Teller Machines (ATMs) after added a Clean Note Policy to put an quit to the regime of mutilated naira notes. Classifying banknotes into nine levels, the coverage stipulated that banks need to make …

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African Development Bank AfDB’s Investments in Nigeria now At $4.5bn

The African Development Bank (AfDB) has revealed that it’s active portfolio in Nigeria rose to 60 operations with total commitments of $4.5bn. In a statement,the bank sad, these comprised 28 public sector operations with total commitments of $1.7bn (21 national and seven regional); 34 non-sovereign operations with total commitments of $2.8bn,Emeka Anuforo, the media relations …

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Nigeria Stock market index drops below 30,000bps experience huge losses

Nigeria All Share Index of stock market has dropped below the 30,000 against the previous market reversed gains recorded. The top traded stocks by volume were Japaul Oil and Maritime Services Plc (92.3 million units), Access Bank Plc (27.5 million units) and United Bank for Africa Plc (25.9 million units) while Zenith Bank Plc (N543.6m), …

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Nigeria debt as a April,2019 stands at about N24.3tn- Still Sustainable,FG insists

Nigeria debt as a April,2019 stands at about N24.3tn which is about 19 per cent to the Gross Domestic Product, but still low compared to Ghana, Brazil, South Africa, Egypt and Angola, revealed by Minister of Finance, Mrs Zainab Ahmed Zainab said that the current subsidy arrangement which was in the form of under recovery …

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