CBN
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1,500 CBN Staff Redeployed, Commence Work at Lagos Office
At least 1,500 members of staff of the Central Bank of Nigeria will on Friday resume at its Lagos office following their redeployment from the headquarters. A source at the…
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Naira Experiences Significant Decline in Official Market, Falls to N1348/$
In apparent reflection of the dollar scarcity plaguing the economy, the Naira yesterday recorded its biggest fall in the official Nigerian Foreign Exchange Market (NAFEM) where it depreciated by 24…
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CBN Identifies Violations in FX Market Regulations, Prepares Sanctions for Offenders
The Central Bank of Nigeria (CBN) says an independent forensic review of the foreign exchange (FX) backlog revealed “grave infractions, gross abuse and noncompliance” with market rules. Disclosing the development…
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Dangote Raid: Is This An End To “Sacred Cows” In The Business Community?
When the Nigerian President, Bola Ahmed Tinubu, was sworn in on May 29, 2023, his first policy intervention in Nigeria’s opaque, corruption-laden oil sector surprised everyone. “Subsidy is gone!” Tinubu…
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EFCC Investigates Dangote, BUA, and 50 Others for Forex Transactions with CBN
The Economic and Financial Crimes Commission EFCC had spread its investigations into over 50 firms allegedly involved in forex transactions with the Central Bank of Nigeria CBN, under the former…
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CBN Special Investigator Reveals Emefiele’s Operation of 593 Unauthorized Accounts in the US, UK, and China
The former Central Bank of Nigeria Governor, Godwin Emefiele, illegally lodged billions of naira in no fewer than 593 bank accounts in the United States, United Kingdom, and China without…
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