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Daily Archives: September 4, 2018

AFCON Qualifier: Super Eagles camp bubbles with 19 players

The camp of Nigeria’s Super Eagles has come very much alive in Victoria, Mahé Island in Seychelles following the arrival of six more players afternoon, which brought the number of players at the team’s Savoy Hotel Resort and Spa to 19. This morning, there were 12 players in all: Henry Onyekuru, Kenneth Omeruo, Francis Uzoho, Semi Ajayi, Samuel Kalu, Wilfred ... Read More »

Why Nigeria needs to be cautious about China

By Adamu Garba Usman Bello, a trader in fabrics at the popular Kanti Kori market in Kano, shared his frustration with me the last time I visited his store for my sallah shopping. “The Chinese have taken over our market” he lamented. “They now import these fabrics in large quantities from Mali, where they have acquired huge commercial farms to ... Read More »

Osinbajo confronts Atiku: What Nigeria needs is deeper fiscal federalism, not geographical restructuring

Vice President Yemi Osinbajo has penned a letter to clarify his thoughts on restructuring, following criticism by Atiku Abubakar, former Vice President and Peoples Democratic Party (PDP) presidential aspirant. While fielding questions from a cross-section of Nigerians at a town hall meeting in Minnesota, US, on Sunday, Osinbajo had said the problem with Nigeria is not a matter of restructuring. ... Read More »

MTN should have paid $2bn in taxes – CBN

MTN has received a $2bn tax bill from the Federal Government, it said on Tuesday, the latest demand by authorities in the company’s most lucrative but increasingly problematic market The news sent MTN’s share price at the Joburg Stock Exchange as much as 7.4% lower in afternoon trade: at 1.45pm, MTN had fallen 6.67% to R81.05. The company has now ... Read More »

CBN forex interventions hit $963m in August – Research firm

Foreign exchange (forex) interventions by the Central Bank of Nigeria (CBN) stood at $963 million in August, according to a report by Financial Derivatives, a financial market research firm. The report added that the forex interventions have helped to stabilise the naira against global currencies, especially the dollar. At the parallel market, the naira started the period at N360/$, and ... Read More »

Dirty details of 4 banks’ violations against CBN rules emerge

Details of how four banks violated the rules of the Central Bank of Nigeria (CBN) thereby attracting penalties from the apex bank have emerged. The four affected banks were Standard Chartered Bank (SCB), Citi Bank, Diamond Bank Plc, and Stanbic IBTC. Last week, the four banks’ infractions attracted sanctions from the apex bank of N5.87 billion, with the CBN also ... Read More »