The recent call by former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) faulting the N145 petrol price cap has stirred a new wave of controversy among stakeholders and Nigerians in general. The NNPC GMDs forum, a body comprising former GMDs of NNPC and the incumbent NNPC GMD, Dr. Maikanti Baru, had last week, expressed reservation over the … Read More
Make Provision For Forex Loans – CBN
In a communique issued by the CBN and signed by Tokunbo Martins; the director Banking Supervision, banks in the country have been directed to make provisions for foreign currency denominated loans. This is informed by the impact of the higher exchange rate on banks’ operations. CBN noted that the liberalization of the foreign exchange (forex) market has led to the … Read More