Category: nairalaw.com

FX Backlog: CBN Pays Additional $64m to Foreign Airlines The Central Bank of Nigeria (CBN) has concluded the payment of all verified claims by airlines with an additional 64.44 million…

NGX Falls by N857bn as Equities Investors Take Profit The equities segment of the Nigerian Exchange (NGX) closed trading on Tuesday on a negative note as investors dumped Tier-1 bank…

Nigeria Improves in Corruption Perception Index The Civil Society Legislative Advocacy Centre (CISLAC) and Transparency International (TI), have said that Nigeria’s rating has improved on the corruption perception index. Mr…

Defunct Skye Bank Loan: Sen.Victor Umeh Ordered to Repay N136m to AMCON A Federal High Court in Abuja has ordered Sen. Victor Umeh to pay about N136 million to the…

Oil Rallies as Middle East Tension Lingers The oil market rallied on Tuesday following escalating tension in the Middle East following the deaths of three US soldiers in Jordan, while…

Fitch Affirms Bank of Africa at ‘BB’ With Stable Outlook Fitch Ratings has affirmed Bank of Africa’s (BOA) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at ‘BB’ with stable…

CBN Accuses Banks of Financial Market Manipulation The Central Bank of Nigeria (CBN) has warned deposit money banks against some financial market manipulation moves it spotted during an ongoing investigation…

IMF Approves $183.4m for Cameroon The International Monetary Fund (IMF) has approved an 18-month arrangement for Cameroon under the IMF Resilience and Sustainability Facility (RSF) for a total amount of…

Market Return Nears 40% as NGX Gains N1.24trn With the year to date at about 40%, the Nigerian equities market opened the week positive as the All-Share index rose by…