The Debt Management Office (DMO) says it received a total subscription of N312.56 billion in its August, Federal Government of Nigeria (FGN) bond auction.
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The big issue, Prof. Ekekwe lamented, was the borrowing of “$billions from US banks, and securing/collateralizing the loans with the national foreign reserves or other asset classes, without informing the Nigerian people and the National Assembly.”
A financial analyst, Dr Samuel Nzekwe, has called on Deposit Money Banks to further recapitalise, to meet the current rising inflation challenges in the country.
ASHENEWS reports that a former Deputy Governor of the Central Bank of Nigeria (CBN), Kingsley Moghalu has accused the 9th National Assembly (NASS), and the Presidency of acquiescing in subverting the law mandating the apex bank to publish its periodic report.
A financial economist, Prof. Uche Uwaleke, has commended the Central Bank of Nigeria (CBN) for publishing the financial reports of the bank after seven years.
The Organisation of the Petroleum Exporting Countries (OPEC) has said the U.S. dollar index decreased by 1.6 percent month-on-month (m-o-m) in July, erasing gains from the previous period.
The 2022 annual report of the Central Bank of Nigeria (CBN) has revealed that the apex bank spent N155.5 billion on the RT 200 and Naira4Dollar schemes in a bid to drive foreign exchange inflows.
Some stakeholders have commended President Bola Tinubu for the recently inaugurated Presidential Committee on Fiscal Policy and Tax Reforms, chaired by Mr Taiwo Oyedele.
The World Bank has announced it will halt new loans to Uganda over the country’s controversial anti-LGBTQ law.
Some financial experts have advised the Federal Government to engage a consortium of audit firms to investigate the Central Bank of Nigeria (CBN).