The Federal High Court 8, Abuja has given a go ahead to the Central Bank of Nigeria (CBN) for the launch of eNaira. ENaira Payment Solutions Limited v. Central Bank of Nigeria (FHC/ABJ/CS/113/2021) came up today, Thursday, September 30, 2021, at the Federal High Court 8, Abuja presided over by...
Integrated Payroll and Personnel Information System (IPPIS) Role Players in Ministries, Departments and Agencies (MDAs) will be held responsible for their activities on the IPPIS platform and any of them that is culpable in infraction will be dealt with decisively according to the laws by the government. This warning was...
The Federation Accounts Allocation Committee (FAAC) has shared a total of N696.965 billion August 2021 Federation Account Revenue to the Federal, States and Local Governments Councils. This was contained in a communiqué issued at the end of the virtual meeting of the Federation Account Allocation Committee (FAAC) for September 2021. TheFact...
The Spokesman of the Central Bank of Nigeria (CBN), Mr. Osita Nwanisobi has faulted claims from certain quarters for the resignation of the CBN Governor over issues relating to the exchange rate of the naira. Speaking with newsmen in Abuja on Monday evening, Nwanisobi alleged that those behind such calls...
The Federal Government of Nigeria plans to raise up to USD$3 billion from a Eurobond issuance at the International Capital Market (ICM) to part-finance 2021 Budget deficit. Debt Management Office in a statement said, the last time Nigeria accessed the ICM was November 2018, disclosing virtual meetings with investors have...
The African Export-Import Bank (Afreximbank) has committed to provide US$500 Million to support Ethiopian commercial banks through the Afreximbank Trade Facilitation (AfTRAF) Programme, which incorporates various products devised to increase intra-extra African trade volumes, diversify the character of this trade, and assure the confidence of trade partners in the...
The Federal Government is set to carry out a comprehensive review of the Financial Regulations that are operational in the country's public service. The review, which has been approved by the Minister of Finance, Budget and National Planning, Zainab Shamsuna Ahmed was meant to bring the Financial Regulations up to...
The Board of Directors of the African Development Bank Group has approved a $50 million Trade Finance Unfunded Risk Participation Agreement (RPA) facility between the African Development Bank and Standard Chartered Bank. The agreement is expected to boost intra-Africa trade, promote regional integration, and contribute to the reduction of the...
The Office of the Accountant General of the Federation has decentralised the operations of the Integrated Personnel and Payroll Information System (IPPIS). This implies that government Ministries, Departments and Agencies (MDAs) can on their own address a number of issues that they currently bring to the IPPIS headquarters in Abuja. TheFact...
As the Monetary Policy Committee of the Central Bank of Nigeria (CBN) prepares for its September 2021 meeting, the Bank has reiterated that its digital currency, eNaira, scheduled to be unveiled in the last quarter of 2021, will enhance the effectiveness of its monetary policy. Speaking with business correspondents in...