Tags: CBN

NPA, FCMB trade blame over concealed funds

The management of First City Monument Bank (FCMB) has admitted receiving Euro payments for Nigerian Ports Authority (NPA). Briefing the Nigerian Stock Exchange (NSE), the Bank alleged that NPA has not made an account available for the necessary transfer.     Explaining further, the Bank said:  “FCMB has made requests from NPA for a Euro account…

Clearing agents spoil for war as FG raises import duty again

Clearing agents are spoiling for war with the Federal government over increase in the exchange rate from N282 to N313 within two weeks. Early July, the Nigeria Customs Service (NCS) readjusted the exchange rate system from N197 to N282 due to the FG flexible exchange rate policy. But, it was gathered that the Central Bank…

FG won’t pay workers’ salaries from October unless… CBN

Starting from October, the Federal Government will be unable to pay workers’ salaries due to the bad stare if the economy, the Governor of Central Bank of Nigeria, CBN, Godwin Emefiele, said yesterday. Emefiele who painted a gloomy picture of the economy during a closed-door meeting with senators. He stared further that if the present…

Amiwero writes Buhari, seeks direction on fiscal, monetary policy

The National President of the National Council of Managing Director of Licensed Customs Agents (NCMDLCA), Lucky Amiwero has called for a proper clarification of Federal Government Fiscal and Monetary monetary policy on import, export and manufacturing for transparent guide of economic growth. Amiwero made this call in a letter addressed to President Muhammadu Buhari, a…

NCAA warns airlines against ticket sales in Dollars

The Nigerian Civil Aviation Authority (NCAA) has asked all airlines selling flight tickets in dollars to desist forthwith as it is a flagrant contravention of Central Bank of Nigeria’s (CBN) prerequisite guiding cost of products or services in Nigeria. NCAA said a Central Bank of Nigeria (CBN) circular issued on 17th April, 2015, directed that…