BUSINESS

CBN releases guidelines on disposal of non-permissible income

Daily Dispatch October 15, 2021

The Central Bank of Nigeria has issued its guidelines on the disposal of Non-Permissible Income (NPI) for Non-Interest Financial Institutions (NIFI). According to a statement which was signed by the Director, Financial Policy and Regulation Department of the CBN, Chibuzo Efobi, the guidelines

BUSINESS

CBN threatens to bar BVN violators from banking services

Daily Dispatch October 13, 2021

The Central Bank of Nigeria (CBN) has issued a Revised Regulatory Framework for Bank Verification Number (BVN) operations and Watch-List for the Nigerian Banking Industry. In a communique issued on Tuesday, the CBN said the framework enhances the effectiveness of customer due diligence and “know your customer” processes as part of the overall strategy for […]

BUSINESS

6.39m Nigerian farmers enumerated for N2.3trn ‘agric subsidy’ scheme — Osinbajo

Daily Dispatch October 11, 2021

Vice President Yemi Osinbajo says no fewer than 6.39 million farmers have been enumerated across states under the Economic Sustainability Plan, ESP’ agriculture scheme. Osinbajo disclosed this in his presentation on ESP at opening ceremony of a two-day Mid-Term Ministerial Performance Review Retreat on Monday at the State House Banquet Hall, Abuja. President Muhammadu

BUSINESS TOP STORIES

Forex rates should reflect market realities – Osinbajo tells CBN

Daily Dispatch October 11, 2021

Vice President Yemi Osinbajo on Monday said Nigeria’s official exchange rate is “artificially low”. He made the remark during a speech at the Midterm Ministerial Performance Review Retreat which was held at the Banquet Hall, Presidential Villa, Abuja. “As for the exchange rate, I think we need to move our rates to be more reflective […]

BUSINESS

NPA introduces measures to address Apapa gridlock

Daily Dispatch October 10, 2021

The Nigerian Ports Authority, NPA, has introduced various measures to address the endemic vehicular gridlock in Apapa, its acting Managing Director, Mr Mohammed Bello-Koko, has said. A statement by Olaseni Alakija, general manager, Corporate and Strategic Communications, quoted the NPA as outlining the measures in a TV breakfast show in Lagos. It quoted Mr Bello-Koko […]

BUSINESS

Stop de-marketing Nigeria’s economy – Senator Uba Sani

Daily Dispatch October 3, 2021

The Chairman of the Senate Committee on Banking, Insurance and other Financial Institutions, Senator Uba Sani has cautioned that persistent criticism of fiscal and monetary policies of the Central Bank of Nigeria (CBN) is sending out wrong signals about the nation’s economy at a time Nigeria desperately needs the trust and deeper collaboration with local […]