Headlines

Looted Funds: One billion dollars recovered since 2015 – FG

Ihesiulo Grace 24 November 2022 0

The Federal Government says it has made a recovery of one billion dollars ($1,000,000,000) since the inception of the President Muhammadu Buhari administration in May 2015 till date. The Attorney General of the Federation and Minister of Justice, Abubakar Malami disclosed this on Wednesday

Computers Crime Law Tech

Facebook faces massive damages

Ihesiulo Grace 11 September 2019 0

Ladesope Ladelokun Facebook Inc. users suing over the social networks worst-ever privacy scandal gained leverage to pry into its internal records to back up their claims that it failed to safeguard their personal data, exposing the company to potentially billions of dollars in damages. A federal judge in San Francisco rejected Facebook’s request to throw […]

Business

Nigeria records $6.5bn total direct remittances in 4 months

Ihesiulo Grace 7 June 2019

Motolani Oseni At the end of the first four months in 2019, Nigeria has recorded a total sum of $6.5 billion in total direct remittances, against $2.42 billion reported during the corresponding period in 2018, the latest data from the Central Bank of Nigeria (CBN) has revealed. The Apex bank international payment data, however, showed […]

Business News

CBN to inject additional $350m into the Forex market

Ihesiulo Grace 4 March 2017 0

The Central Bank of Nigeria is set to pump more United States dollars into the foreign exchange market this weekend, in continuation of its strategy to further strengthen the value of the naira. Very reliable source within the apex bank hinted that the CBN was set to release an additional $350m into the forex market, […]

Money

CBN to sell dollars to manufacturers, airlines, others in special auction

Ihesiulo Grace 26 January 2017 0

In order to clear the backlog of dollar obligations that businesses owe, the Central Bank of Nigeria (CBN) has asked Deposit Money Banks (DMBs) to bid in a special currency auction, forex traders disclosed. In view of this development, commercial banks are expected to submit backlog of dollar demand from fuel importers, airlines, raw-materials producers, […]

Business Money

Naira remains 490/$1 at parallel market

Ihesiulo Grace 3 January 2017 0

Contrary to some financial analysts’ prediction that the Naira would hit 500 per dollar before the New Year, the currency has remained steady at N490 against the dollar.   The naira has maintained the N490 per dollar rate it traded on the last day of 2016 and has held steady for the first two days […]

Headlines News

How Akopobolokemi, Atewe converted N4.5bn to dollars- EFCC

Ihesiulo Grace 6 December 2016 0

A Federal High Court in Lagos on Monday heard how about N4.9 billion was converted into United States dollars by a former Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Patrick Akopobolokemi, and others charged for money laundering. Akopobolokemi is standing trial alongside a former Commander of the Military Joint Task Force, […]