Finance

CBN to provide N750bn Boost for BoA

The Central Bank of Nigeria, CBN is to provide about N750bn for the recapitalization of the Bank of Agriculture before the end of next year, the Federal Government has said. According to the government, the restructuring and recapitalization of the…

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Finance

Hoard Dollars, Go to Jail – FG

The Federal Government has proposed an amendment to the Foreign-Exchange Act to enable the imprisonment of anyone who holds foreign currencies, especially the dollar, for more than 30 days. This is the latest measure the government and the Central Bank…

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Finance

Forex crisis: Fitch Downgrades 10 Nigerian banks

Following a reassessment of potential sovereign support for the banking sector, Fitch, Ratings, a leading global rating agency has revised down the Support Rating Floors of 10 Nigerian banks to ‘No Floor’ and downgraded nine others’ Support Ratings to ‘5’.…

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