Amidst tight monetary policy and economic contractions, loan portfolio of leading Deposit Money Banks in Nigeria expanded by 57 percent to N37.17 trillion in 2023 against N23.68 trillion recorded in 2022. The large credit growth was driven by Access Bank, Zenith Bank, First Bank, Guaranty Trust, United Bank for Africa (UBA) Plc, Fidelity Bank, GT Bank, Stanbic […]
The Naira yesterday depreciated to N1,340 per dollar in the parallel market, from N1,300 per dollar last week Friday. Similarly, the Naira depreciated in the Nigerian Foreign Exchange Market, NAFEM, to N1,419.11 per dollar. Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,419.11 per dollar from N1,339.23 per dollar last […]
The Economic and Financial Crimes Commission, EFCC, has dismissed claims that its Chairman, Ola Olukoyede subjected the immediate past governor of Kogi State, Yahaya Bello to a media trial. Olukoyede had organized a press conference where he disclosed that Bello withdrew $720,000 from a government account to pay his child’s school fees. He also claimed […]
Embattled former Minister of Aviation, Hadi Sirika, has spent his second night in the custody of the Economic and Financial Crimes Commission, over an ongoing N8,069,176,864.00 money laundering probe. This was as the anti-graft commission began a probe into the alleged fraud involved in the botched Nigeria Air project. Top EFCC sources privy to the […]
MRS Oil Plc has slashed the price of Automotive Gas Oil popularly known as diesel to N1,050 per litre across its outlets nationwide. This was disclosed in a flier prepared by the oil firm now trending online. The slash in price from as high as N1,700 in some filling stations last month was said to […]
Nigerian Government aims to attract about $10 billion worth of investment by signing the consolidated guidelines for implementing Fiscal Incentives for the Oil & Gas Sector. A statement on Tuesday by the Ministry of Finance explained that the guidelines, a cornerstone of the Presidential Directives, are aimed at enhancing the Nigerian oil & gas sector’s […]
Nigeria’s external reserves shed $2.16 billion in the past month, falling to a seven-year low of $32.29 billion on April 15, 2024, from $34.45 billion on March 18, 2024, according to CBN data. A recent Bloomberg report suggested that Nigeria is burning through its foreign exchange reserves at a rate not seen in four years, […]
A former Minister of Aviation, Hadi Sirika, was yesterday arrested and taken into custody by the Economic and Financial Crimes Commission (EFCC) over its ongoing probe on the botched Nigeria Air project, Daily Trust reports. Apart from the project, Sirika was still being grilled at the time of filing this report last night over alleged […]
The chairman of the Economic and Financial Crimes Commission, Mr.Ola Olukoyede, insisted yesterday that the anti-graft agency would do everything humanly possible to bring the immediate past governor of Kogi State, Alhaji Yahaya Bello, to account for his tenure in office. Olukoyede, who briefed the media in Abuja, said Yahaya Bello was using some antics to try […]
The Economic and Financial Crimes Commission, on Tuesday, urged Justice Emeka Nwite of the Federal High Court Abuja to deny the bail application of the detained Binance Holdings Limited executive, Tigran Gambaryan. The anti-graft agency said it was too risky to admit the foreigner to bail, noting the escape of his co-defendant, Nadeem Anjarwalla, from […]
© 2023 Success 105.3 FM | All Rights Reserved