EFCC Recovers Fake $570,000 From Fraudsters In Kaduna

The Economic and Financial Crimes Commission, EFCC, has conducted yet another successful raid leading to the arrest of five notorious fraudsters. The fraudsters comprising four Nigerians and one Nigerien man were reported to be specialists in duping innocent persons who fell into their traps. The arrested suspects, Salisu Rabiu, Ibrahim Idris, Haruna Abdullahi, Abubakar Umar……

CBN to inject another $10,000 to BDCs to check speculation

The Central Bank of Nigeria (CBN) will inject additional 10,000 dollars proceeds of International Money Transfer Services Operators (IMTSO) to 3135 Bureau De Change Operators nationwide, Alhaji Aminu Gwadabe says. Gwadabe, the President, Association of Bureau De Change Operators of Nigeria (ABCON) said this in an interview with the News Agency of Nigeria (NAN) on……

World Bank to execute 150m US-dollar projects in Adamawa-Governor

Gov. Mohammed Bindow of Adamawa has said that the World Bank planned to execute projects worth 150 million US dollars in the state. Bindow made this known on Wednesday during the opening of the state executive council meeting in Yola. He said that the projects would be executed between four and six years in nine……

Update on FOREX Market As Central Bank Offered $100m To Dealers

Olalekan Ajayi, Abuja: Following Thursday’s FOREX wholesale auction, the Central Bank of Nigeria (CBN) on Friday, March 24, 2017, concluded transactions on the sum of $100 million earlier offered at the interbank market to meet customers’ demands, out of which authorized dealers were only able to pick $81.347 million after an initial bid for $91…

Naira gains more grounds as CBN records unpurchased dollars return

There is an apparent glut in the foreign exchange market as the Central Bank of Nigeria (CBN), on Thursday, said of $100 million it supplied to meet the requests of wholesale customers, only $91 million was bought. The development was said to have been as a result of the apex bank’s consistent injection of dollars…

Naira Gains Against Dollar Again

Naira Gains Against Dollar NAN, Abuja; The continuous Central Bank of Nigeria’s (CBN) intervention in foreign exchange (forex), has caused the Naira to hit the dollar again on Wednesday. The currency traded N400 to a dollar at the black market on Wednesday in Abuja. The News Agency of Nigeria (NAN) reports that the Naira has…

EFCC Arraigns Two Over $167,900 Money Laundering

EFCC On Money Laundering The Economic and Financial Crimes Commission on 16th March, 2017 arraigned Ojinnaka Emmanuel and Nwoke Juventus Uchenna before Justice Dugbo Oghoghrie of the Federal High Court Enugu on a three-count charge of conspiracy, under declaration of currency and Procurement fraud. The accused persons were arrested at Akanu Ibiam International Airport Enugu…

FG inaugurates committee on ‎$500m grant

The Federal Government has inaugurated a committee to supervise the 500 million dollars grant disbursement to the 36 states of the federation and FCT to address maternal and child health challenges in the country. The Minister of Health, Prof. Isaac Adewole, inaugurated the committee during a retreat organised by the federal programme management unit of……

CBN pumps fresh $195m Into forex market

The Central Bank of Nigeria has, on Tuesday, March 14, 2017 released fresh $195 million into the foreign exchange market as part of its wholesale intervention to ensure liquidity in that segment of the market. The release was confirmed in a statement signed by Isaac Okoroafor, the spokesperson of the Central Bank. Okoroafor said that……