As preparations advance towards the 8th edition of the Lagos International Festival of Animation (LIFANIMA), the Bank of Industry has confirmed its sponsorship of the festival for the second year running. This reinforces the bank’s continued support for the creative industry, which is now fully recognised as a critical growth sector of the economy. LIFANIMA 2024 comes up on 29th–31st …

The Central Bank of Nigeria (CBN) has announced revised foreign exchange rates, reflecting recent shifts in the value of the naira against major global currencies. According to updated data on the CBN’s website on Monday, the naira witnessed a slight decline in value against the pound sterling, settling at N2,035/£1, a marginal drop of N1.82 compared to Thursday’s rate of …

A fresh investigation by the Economic and Financial Crimes Commission (EFCC) has revealed how a former Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, allegedly orchestrated the printing of one billion pieces of N100 banknotes and the production of 5,000 pieces of acrylic blocks. According to an investigation by PREMIUM TIMES, the notes and acrylic blocks were …

Gold hit a record high on Friday as global stock markets diverged, with profit-taking on Wall Street, while European and Asian markets gained on reassuring data about the health of the world’s biggest economy and likely US interest rate cuts. Expectations of United States interest rate cuts weakened the dollar, while oil prices tumbled as weak Chinese demand expectations offset …

The Naira yesterday appreciated to N1, 585 per dollar in the parallel market from N1,595 per dollar on Wednesday. Similarly, the Naira yesterday appreciated to N1,586.04 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,564.48 per dollar from N1,586.04 per dollar on Wednesday, indicating N21.56 …

The Securities and Exchange Commission (SEC) has vowed to ensure the settlement of unclaimed dividends, which stood at N215 billion as at March 2024. This is as the Commission said it has approved nine new issuances totaling N1.228 trillion as at August, 2024. The Director-General (DG) of SEC, Dr. Emomotimi Agama stated this during the Second Post CMC briefing held …

The Naira yesterday depreciated to N1,590 per dollar in the parallel market from N1,580 per dollar on Monday. Similarly, the Naira yesterday depreciated to N1,582.09 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,582.09 per dollar from N1,570.99 per dollar on Monday, indicating N11.1 depreciation …

The Central Bank of Nigeria (CBN) says it has reintroduced the publication of several key economic reports to foster transparency in the economy. This is contained in a statement by the CBN’s Acting Director, Corporate Communications Department, Mrs Hakama Sidi-Ali on Tuesday in Abuja. Sidi-Ali said that it is a reaffirmation of the apex bank’s commitment to fostering transparency and …

The Nigeria Deposit Insurance Corporation says it has disbursed the insured deposits of N5 million each to 82.36 per cent of the total customers of the defunct Heritage Bank. It also noted that 17.64 per cent of the insured deposits still pending payment mainly belong to depositors with accounts that have Post-No Debits instructions or lack a Bank Verification Number. …

The World Bank Group (WBG) Finances has revealed that the Federal Government is still repaying $10.6 billion in loans obtained under former Presidents Olusegun Obasanjo, late Umaru Musa Yaradua, and Goodluck Jonathan. In June 2024, the Debt Management Office said as of 31 March 2024, Nigeria’s domestic and external debts stood at N121.67 trillion ($91.46 billion). The domestic debt was …