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Latest posts - Finance
  • Nigeria’s Recession Will Begin To End ‘slowly’ But ‘painfully’ In July 2017 – Bismarck Rewane
    • Blog Post
    • Feb 23, 2017
    A leading economist and financial derivatives analyst, Bismarck Rewane, has predicted that Nigeria will start to experience a ‘slow’ but ‘painful’ recovery process from the current economic recession rocking the nation in July 2017. He discl...
  • Groom-to-be Who Drank Insecticide After Mmm Crashed Dies
    • Blog Post
    • Feb 21, 2017
    A groom-to-be (Simply identified as Adakole) who drank insecticide last December after MMM froze users' accounts, has died from stomach complications resulting from the poison he took last year. Adakole had reportedly invested N300,000 meant for h...
  • Cbn Orders Major Forex Market Overhaul As Naira Depreciates Further
    • Blog Post
    • Feb 21, 2017
    The Central Bank of Nigeria, CBN, has rolled out a new foreign exchange window to stem the tide of demand pressures which had battered the Naira in the unofficial foreign exchange market. But the new measures, which increased supply of forei...
  • Akwa Savings And Loans Sacks 40 Staff
    • Blog Post
    • Feb 20, 2017
    The Akwa Savings and Loans Limited, owned by the Akwa Ibom government, said it had disengaged about 40 employees. The bank’s Managing Director and Chief Executive Officer, Mr Ebong Bassey, disclosed this at an interactive session with newsmen in...
  • Egyptian Pound Rebounds From Flotation Slide
    • Blog Post
    • Feb 20, 2017
    The Egyptian pound strengthened against the US dollar on Monday, regaining ground after record lows which followed the central bank’s decision to float the currency in November. After plunging to 8.83 pounds against the dollar before the flotati...
  • Nigeria Central Bank Announces New Foreign Exchange Policy
    • Blog Post
    • Feb 20, 2017
    The Central Bank of Nigeria, CBN, has released a new foreign exchange policy in the country with immediate effect. The new policy is sequel to last Thursday’s directive by the National Economic Council, NEC, for immediate review to stem the wide...
  • Passengers Groan Under Dollar Scarcity, Hoarding At Airports
    • Blog Post
    • Feb 20, 2017
    Air passengers were thrown into confusion at the weekend when Bureau de Change (BDC) outlets at international airports nationwide declared foreign exchange, especially dollar, out of stock. Notable BDCs like Travelex, Sulah, Bossy Clean Exchange a...
  • Forget 2016 Investments, Start Afresh- Mmm
    • Blog Post
    • Feb 20, 2017
    Popular ponzi scheme, MMM, has come out with a statement in which it advises its members to forfeit all investments made in 2016, and commence fresh and unhindered investments in 2017. In a statement released on their site, investments in 2016 a...
  • Cbn Orders Banks To Give Customers N375 Per Dollar For School Fees, Medicals
    • Blog Post
    • Feb 18, 2017
    The Central Bank of Nigeria (CBN) will soon increase the disbursement of forex to meet demands for payment of school fees for Nigerian students abroad, medical expenses, personal and business travel allowances. According to Leadership the apex ban...
  • Naira Depreciates To All Time Low …see Current Value
    • Blog Post
    • Feb 17, 2017
    The naira appears to have entered a free fall mode with the local currency selling for 516 per United States dollar on the streets of Lagos on Thursday. The naira plummeted at the parallel market from 510/dollar on Wednesday to 516/dollar on Thurs...
  • Pencom Commends Premium Pension On Better Service Delivery
    • Blog Post
    • Feb 17, 2017
    PenCom Commends Premium Pension On Better Service Delivery By Royal Ibeh The National Pension Commission (PenCom) has commended Premium Pension Limited on its effort in ensuring better service delivery to the Nigerian retirees. Speaking at t...
  • Pencom Urges Fg To Pay N143bn Pension Liabilities
    • Blog Post
    • Feb 17, 2017
    PenCom Urges FG to Pay N143bn Pension Liabilities The National Pension Commission (PenCom) has called on the federal government to pay the sum of N142.6 billion pension liabilities from 2014 to 2016. The director general, PenCom, Mrs Chinelo ...
  • Explain Why Naira Is Falling Anyhow - Agf Malami Queries Cbn's Emefiele
    • Blog Post
    • Feb 16, 2017
    Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN), has said there are corruption allegations in the CBN's foreign exchange allocation and transactions. Malami revealed that the fraud allegations were “supported by...
  • Naira Depreciates Further …see Current Exchange Rate
    • Blog Post
    • Feb 15, 2017
    The Naira has continued to depreciate at the parallel market in spite of the steady rise in the nation’s foreign reserves. The Nigerian currency lost three points at the parallel market to exchange at N510 on Wednesday after closing at N507 on...
  • Banker Uses Fake Bank Alert Sms To Swindle Customer N250,000 In Lagos
    • Blog Post
    • Feb 15, 2017
    A banker with one of the new generation banks has been arrested and charged to court for defrauding N250,000 from a customer using forged bank alert text message. The banker identified as Christopher Ademola, 49, was on Wednesday arraigned at a Tinub...
  • Fake Naira In Circulation Less Than 1%, Says Cbn
    • Blog Post
    • Feb 15, 2017
    The Central Bank of Nigeria (CBN) says the amount of counterfeit naira in circulation is less than one per cent. The acting Director, Corporate Communications, CBN, Mr Isaac Okorafor disclosed this in a statement issued on Tuesday in Abuja Either t...
  • Plan For World Bank $5billion Loan Ready, Says Fg
    • Blog Post
    • Feb 15, 2017
    The Federal Government will present the required economic reform proposals to allow the country access loan from the World Bank this month, officials and diplomats have said. The government said it would need $5billion external borrowing to suppor...
  • Fg Closes 20,000 Bank Accounts, Moves N5.2tn Into Tsa
    • Blog Post
    • Feb 14, 2017
    Since the commencement of the Treasury Single Account in September 2015, over 20,000 accounts with Deposit Money Banks belonging to Ministries, Departments and Agencies have been closed with a total sum of N5.24tn moved into the TSA. The Accou...
  • Cbn ‘may Devalue Naira In Six Months’
    • Blog Post
    • Feb 13, 2017
    Lukman Otunuga, a macroeconomics expert and research analyst at FXTM, says the Central Bank of Nigeria (CBN) may devalue the naira to 400 against the dollar on the official side. In an interview with TheCable, Otunuga said the situation might make...
  • Pension Administrators Take Over N145bn Annuity Assets
    • Blog Post
    • Feb 07, 2017
    Pension Administrators Take Over N145bn Annuity Assets No fewer than 26 underwriting firms, which are into life insurance business in the country, may have lost N145 billion annuity fund in their possession to the pension industry, a development, ...
  • Linkage Assurance Introduces Retail Products To Nigerians
    • Blog Post
    • Feb 07, 2017
    Linkage Assurance Introduces Retail Products to Nigerians By ROYAL IBEH, Lagos Linkage Assurance Plc has introduced into the Nigerian insurance market, retail insurance products aimed at assisting policyholders in risk mitigation. The produ...
  • How Ponzi Scheme Nearly Ruined My Life And Made Me Lose Over N2million - A Nigerian Online Marketer Recounts
    • Blog Post
    • Feb 06, 2017
    A Nigerian online marketer, Adesanya Sunday Abiodun has recounted how he lost over 2 million naira last year through various forms of Ponzi schemes. Adesanya regrets his acts and swears he'll never do Ponzi schemes again. Read what he shared ...
  • Skye Bank Announces Resignation Of Four Eds
    • Blog Post
    • Feb 04, 2017
    Lagos – Skye Bank Plc has notified the Nigerian Stock Exchange (NSE) of the voluntary resignation of four of its Executive Directors from the services of the bank. This is contained in a notification letter signed by the bank’s Company Secretary...
  • Naicom Pays N5.5bn Claims To Policyholders In 2016
    • Blog Post
    • Feb 03, 2017
    NAICOM Pays N5.5bn Claims to Policyholders in 2016 By ROYAL IBEH, Lagos In a bid to ensure protection of policyholders, beneficiaries and third parties of insurance contracts, the National Insurance Commission (NAICOM) on Friday said it has pai...
  • Compulsory Insurance: The Level Of Compliance Still Low, Says Kari
    • Blog Post
    • Feb 03, 2017
    Compulsory Insurance: The Level of Compliance Still Low, Says Kari By Royal Ibeh The commissioner for insurance and chief executive, National Insurance Commission (NAICOM), Mohammed Kari has called on law enforcement agencies to be knowledgeabl...
  • See The Current Rate Of Naira In The Black Market Today
    • Blog Post
    • Feb 02, 2017
    The dollars is exchanging for N498 at market rate, while GBP exchanges for N615 and the Euro for N525
  • Shell’s Profit After Tax More Than Doubled In 2016
    • Blog Post
    • Feb 02, 2017
    Royal Dutch Shell on Thursday said profit after tax more than doubled in 2016, helped by recovering oil prices in the fourth quarter. Net profit for the full year came in at $4.58bn compared with $1.94bn for 2015, the Anglo-Dutch energy giant said...
  • Apathy Grows As 86.6 Million Nigerians Are Without Insurance
    • Blog Post
    • Feb 02, 2017
    Long before Nigeria was finally plunged into recession last year; it has been pretty challenging to get Nigerians to appreciate the benefits inherent in insurance products, with the sector contributing a meager 0.6 percent to the nation’s Gross Dom...
  • Today’s Naira Rate Against Dollar, Pound And Euro.(30/1/17)
    • Blog Post
    • Jan 30, 2017
    The dollars is exchanging for N500 at market rate, while GBP exchanges for N615 and the Euro for N525
  • We Don’t Fix Forex Rates – Cbn
    • Blog Post
    • Jan 29, 2017
    The Central Bank of Nigeria (CBN), has insisted that it is not responsible for fixing foreign exchange purchase figures. CBN made this known in a statement signed by its Director of Corporate Communications, Isaac Okorafor. He insisted that the s...
  • We Are Under Attack, But Won’t Change Our Forex Policy - Cbn
    • Blog Post
    • Jan 27, 2017
    The Central Bank of Nigeria (CBN) says it has come under attack for its foreign exchange policy, but would not change the policy nor bow to these “self-serving” interests. In a statement by Isaac Okorafor, the bank’s spokesman, the CBN said ...
  • Cbn Insists On Retaining Current Forex Policy
    • Blog Post
    • Jan 27, 2017
    The Central Bank of Nigeria has insisted on retaining the current foreign exchange policy. The bank said no amount of criticism and blackmail from “self-centred individuals” would make it change the policy. In a statement on Thursday, title...
  • Ivf Children Are Free From About 600 Diseases Plaguing Mankind- Dr. Ajayi
    • Blog Post
    • Jan 26, 2017
    IVF Children Are Free From About 600 Diseases Plaguing Mankind- Dr. Ajayi The CEO, NORDICA Fertility Centre, Dr Abayomi Ajayi, in this interview with Royal Ibeh explains how Pre-implantation Genetic Screening has helped Children from In Vitro Fert...
  • Revealed: Why Mmm Top Guider, Chuddy Ugorji And Wife Fled Nigeria
    • Blog Post
    • Jan 26, 2017
    The hope mavrodians have of retrieving their ‘investments’ and ‘profits’ from the Mavrodi Mondial Moneybox (MMM) Ponzi scheme continues to dim by the day, as Nigeria’s top guider, Chuddy Ugorji, has reportedly fled the country. It was ga...
  • I Used My School Fees For Mmm - Hospitalised Bida Poly Student Laments
    • Blog Post
    • Jan 26, 2017
    As the fate of investors in the money doubling scheme, MMM hangs in the balance, students of the Federal Polytechnic, Bida in Niger state have lost their school fees in the Ponzi scheme. The deadline for fees payment in the institution ended yeste...
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