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JP Morgan Chase To Pay $264m To Settle Bribery Scandal

JP Morgan Chase To Pay $264m To Settle Bribery Scandal

🕔06:28, 18.Nov 2016

JP Morgan Chase has been left with no choice but to pay  $264 million to settle a foreign bribery case dubbed the “princelings case” . The bank had given  prized jobs to friends and relatives of Chinese officials, US officials

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FG Tackles CBN, SEC, Others Over Non-remittance of N450b

FG Tackles CBN, SEC, Others Over Non-remittance of N450b

🕔08:45, 16.Nov 2016

The Federal Ministry of Finance is set to lash out on the Central Bank of Nigeria (CBN), the Securities and Exchange Commission (SEC), among other government agencies for not remitting operating surpluses totalling N450billion. Other agencies that have a case

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TSA: World Bank Hails FG Over Remita Usage

TSA: World Bank Hails FG Over Remita Usage

🕔08:35, 16.Nov 2016

Senior Special Assistant to the President on Trade and Investment, Dr. Jumoke Oduwole, has said the World Bank says it is happy with the implementation of the Treasury Single Account (TSA) by the Federal Government through Remita. Oduwole said not

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Harsh Operating Environment: Stock Market Continues To Record Fall

Harsh Operating Environment: Stock Market Continues To Record Fall

🕔07:30, 15.Nov 2016

The equities market closed yesterday on a negative note, as the Nigerian Stock Exchange (NSE),All Share Index (ASI), and market capitalisation depreciated by 0.70 per cent each. At the close of business, there were 10 gainers and 22 losers, which

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Change Government: Inflation Hits Record 18.3 %

Change Government: Inflation Hits Record 18.3 %

🕔06:28, 15.Nov 2016

The National Bureau of Statistics (NBS) has announced that the Consumer Price Index which measures inflation, rose to a 94-month high of 18.3 per cent in October. The record 18.3 per cent inflation rate, which is about 0.48 per cent

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Recession: 50% Of Bakeries In Northern Nigeria Shut Down

Recession: 50% Of Bakeries In Northern Nigeria Shut Down

🕔12:13, 14.Nov 2016

Bakery owners and managers in Northern Nigeria said over the weekend that about 50 percent of bakeries in the region have shut down over inability to cope with the high cost of production. They said the remaining bakers have also

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NCRIB describes executive tenure policy as a threat

NCRIB describes executive tenure policy as a threat

🕔12:06, 14.Nov 2016

The Nigerian Council of Registered Insurance Brokers (NCRIB), has described the implementation of the code of corporate governance as a threat to the continuous existence of such firms. The NCRIB President, Kayode Okunoren, said this at the just concluded, 2016

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DSS Arrest Forex Dealers in Lagos, Abuja

DSS Arrest Forex Dealers in Lagos, Abuja

🕔07:07, 11.Nov 2016

The Department of State Services (DSS) on Thursday raided some unregistered Bureau De Change operators in Lagos and Abuja and made some arrests. The operatives also arrested registered BDCs operators who were accused of selling the dollar above N400. The

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CBN Sets 1st May 2017  For Interchange Fee Regime Execution

CBN Sets 1st May 2017 For Interchange Fee Regime Execution

🕔06:56, 11.Nov 2016

The Central Bank of Nigeria (CBN) has set May 1st 2017 for the implementation of the new interchange fee regime for operators in the payment cards industry. In a circular dated November 1st but posted on its website yesterday, the

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Nigeria Has Received $7.24bn From W’Bank In Five Years

Nigeria Has Received $7.24bn From W’Bank In Five Years

🕔12:52, 10.Nov 2016

The Federal Government has received a total of $7.24bn from ‎the World Bank from 2012 to date, reports confirm. Statistics obtained from the bank’s web portal on Wednesday also showed that its current portfolio in Nigeria stood at $8.26bn as

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