CBN to punish banks for forex infractions

Godwin Emefiele, CBN Governor   The Central Bank of Nigeria on Monday threatened to sanction any Deposit Money Bank found in breach of its earlier directive of March 3, 2017 instructing them to, among other things, open teller points for retail forex transactions and to have electronic display boards in all their branches, showing rates […]

UN names Fowler member of global tax committee

FIRS Boss, Babatunde Fowler   The United Nations Secretary-General, Mr. Antonio Guteress, has named the Executive Chairman of the Federal Inland Revenue Service, Mr. Tunde Fowler, as a member of the International Experts Committee on Tax Matters. The committee has 25 members worldwide. Fowler’s appointment was conveyed by the Minister Plenipotentiary of Nigeria Permanent Mission, […]

Naira may depreciate on dollar shortage

The naira may depreciate against the United States dollar at the parallel market on dollar shortage next week. The local currency closed at 365/dollar on Thursday, the same level it recorded on Wedneesday. The local currency has been trading flat at 365/dollar since Monday. This was despite a $250m dollar injection by the Central Bank […]