Vice-President Kashim Shettima says the naira would have appreciated to N1,000 per dollar in weeks if the Central Bank of Nigeria (CBN) had not intervened in the foreign exchange (FX) market on Monday to ensure market stability. Shettima spoke on Tuesday during his address at the Progressive Governors Forum, Renewed Hope Ambassadors Strategic Summit in…
A former General Manager of the upstream division of the Nigerian National Petroleum Corporation (NNPC), as it then was, Paulinus Iheanacho Okoronkwo, has been sentenced to 87 months in a US federal prison for receiving a $2.1 million bribe while serving as an officer of the national oil company. Okoronkwo, a Los Angeles-area lawyer, according…
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has urged the First Abu Dhabi Bank to invest in Nigeria. The minister met officials of the bank to advance strategic financial cooperation aimed at expanding Nigeria’s access to international capital markets, according to a statement by the Ministry of Finance on…
