Economy
Banking & Finance Economy

CBN waves conditions for accessing new notes – Emefiele

Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, says the apex bank has waived some of the conditions for accessing the new banknotes by commercial banks. He announced this at a sensitisation tour on the redesigned naira notes to the Computer Village, Ikeja in Lagos. Emefiele was represented by the CBN Director of Legal […]

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Economy Foreign News

Oil prices settle higher on hopes of China demand rebound

Oil prices settled higher on Tuesday in choppy trading after China posted weak but expectation-beating annual economic growth data. The prices also settled on hopes that a recent shift in its COVID-19 policy will boost fuel demand. Brent crude futures settled up $1.46, or 1.7 per cent to $85.92 while U.S. West Texas Intermediate (WTI) […]

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Business Economy

Osinbajo says investment in tech, key to prosperity

Vice President Yemi Osinbajo says investment in technology is the way of the future as it holds prospects for national development. Osinbajo made the remarks when he received delegation of Odu’a Investment Company at the Presidential Villa, on Tuesday in Abuja. The Group Chairman of the conglomerate, Bimbo Ashiru, led the delegation. The vice president […]

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Economy Foreign News

World Bank slashes 2023 global growth by 1.2%

The World Bank (WB) has cut the global growth forecast for 2023 by 1.2 per cent from 2.9 per cent, warning the world is at risk of a recession. The global financial institution cited a combination of factors for lowering its estimate. The factors are high inflation, rising interest rates and lower investment Other factors […]

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Banking & Finance Economy Foreign News

Money laundering: British’s FCA fines GTB £7.6m

The Financial Conduct Authority (FCA), a British financial watchdog, has fined a subsidiary of Nigeria’s Guaranty Trust Bank £7.6 million ($9.3 million) over allegations of money laundering. The FCA announced the fine in a statement, reported by Reuters on Tuesday. It stated that it imposed the fine due to failures in GTBank’s anti-money laundering systems […]

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Economy Industry National

FG sets aside N3.25bn for 3 industrial parks

The Federal Government has earmarked N3.25 billion for the first phase of three industrial parks being planned across the country. Chief Executive Officer of the National Agency for Science and Engineering Infrastructure (NASENI), Prof. Mohammad Haruna, announced this when he visited the Commandant of the Nigerian Air Force Institute of Technology (NAFIT) in Kaduna on […]

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Banking & Finance Economy

NSPM assures of new naira notes standard quality

By Our Correspondent Managing Director of Nigerian Security Printing and Minting PLC (NSPM), Ahmed Halilu, has allayed the fears of some Nigerians on the quality of the new naira notes. Aliyu gave the assurance in a statement, on Friday, but made it available to The NewsZenith on Saturday. The assurance is in response to concerns […]

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Economy National

Cash withdrawals from govt accounts to end March 1 – NFIU

By Our Correspondent Moddibo Tukur, CEO of the Nigerian Financial Intelligence Unit (NFIU) has banned cash withdrawals for all federal and states accounts, effective March 1. Tukur told newsmen, on Thursday, in Abuja that it was necessary to impose the ban to curb the rate at which monies are withdrawn from public accounts.   According […]

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Economy National

DMO says alarm over national debt unnecessary

The Debt Management Office (DMO) says the alarm created around the country’s projected public debt by a segment of the media was unnecessary. The Director-General, Mrs Patience Oniha, said this in a statement on Thursday in Abuja. Oniha was reacting to reports by a segment of the media that next government would inherit N77 trillion […]

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Economy National

Customs arrests 176 suspects, losses 4 officers in 2022

The Federal Operations Unit, Zone A of the Nigeria Customs Service (NCS), on Thursday, said it lost four men to smugglers in 2022 and arrested 176 suspected smugglers. The Acting Controller of the unit, Deputy Comptroller Hussein Ejibunu,  announced this at a news conference in Lagos. In the year under review, Ejibunu said the unit […]

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