By InvestAdvocate Lagos (INVESTADVOCATE)-Nigeria’s local currency, the naira on Friday gained 1.1 percent compared to the U.S Dollar on the Central Bank of Nigeria’s (CBNs) intervention and dollar sales by oil companies in the week, Reuters reported on Friday quoting dealers.The report affirmed that the naira gained as it opened […]

The Central Bank of Nigeria has outlined the benefits of electronic collection of revenues for the federal and state governments, saying it will reduce the cost of handling cash among other things. The Director, Banking and Payment Systems, CBN, Mr. Dipo Fatokun, gave the benefits during a sensitisation workshop on […]

Indications have emerged that a number of foreign banks have started suspending short and medium-term credit lines to their Nigerian counterparts as falling crude oil prices continue to fuel exchange rate volatility and uncertainties in the economy. This is coming just as several Nigerian lenders are said to be seeking […]