Tag Archives: CBN

ATCON Carpets CBN On ‘3-Minutes Call’ Tax Proposal The telecommunication companies in Nigeria have urged the Federal Government to drop the proposed tax on “three-minute” calls and above. The Association of Telecommunication Companies of Nigeria (ATCON) the umbrella body of the Operators, argued that recent present economic policies, of the Federal Government are gradually killing the industry, which is presently …

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SEC, sole approving authority for securities—Adeosun  Finance Minister, Mrs. Kemi Adeosun, has reiterated that the responsibility for the supervision, regulation and approval of issuance of securities in the local market for Nigeria’s internal debt rests solely with the Securities and Exchange Commission (SEC). The minister stated this in a circular explaining that, in line with its powers as conferred by …

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Naira loses 85% of value in two years – CBN …enjoins risk managers to be on top of their job As Nigerians continued to grapple with the hash economic realities bedeviling the domestic economy, the Central Bank of Nigeria has disclosed that the naira has lost about 85 per cent of its value in the last two years and that …

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FCMB reports N140.7bn gross earnings in Q3 Despite the hash economic realities in the domestic economy, First City Monument Bank (FCMB) Group Plc yesterday reported N140.7 billion in gross earnings for the third quarter ended September 2016, 29 per cent above N109.3 billion recorded in the same period prior year. The group non-interest income stood at N44.8 billion, for Q3 …

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SEC takes step at improving financial literacy…… Launches capital market journal  The Securities and Exchange Commission is set to improve the financial literacy of Nigerians as poor financial literacy has been identified as one of the factors responsible for the low level of financial inclusion in the country. This was disclosed by Director General of the Securities and Exchange Commission …

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CBN retains monetary policy rate at 14%, amidst deepening recession The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday left the Monetary Policy Rate unchanged at 14 per cent. The CBN Governor, Mr. Godwin Emefiele, who announced the decision of the committee at the end of a two-day meeting held at the apex bank’s headquarters in Abuja, explained …

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UBA CFO, Finance Team Shines at CFO Awards Pan-African financial services group, United Bank for Africa Plc repeated the outstanding feat, it recorded last year at the 2nd edition of Nigeria CFO awards, but took it a notch higher when its Group Chief Financial Officer (GCFO) and the Finance Team bagged the treble at the awards night held on November …

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Nigeria’s economy shrinks by 2.2% in third quarter Despite claims of growth, the Nigeria’s economy in the third quarter contracted as businesses struggled to access foreign exchange and rebels continued to bomb oil pipelines in the restive south, official data showed Monday. “The nation’s gross domestic product (GDP) contracted by -2.24% year-on-year,” the country’s National Bureau of Statistics said in …

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Market Growth: SEC, NERDC signs MoU on introduction of Capital Market Studies The Securities and Exchange Commission (SEC) is set to achieve another milestone by infusing capital market studies (CMS) into schools curriculum with the signing of a Memorandum of Understanding (MoU) with the Nigerian Educational Research and Development Council (NERDC). This was done weekend at the Commission’s head office …

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