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Tag Archives: CBN

Alleged unrecovered TSA Funds: We have no hidden accounts- NNPC

The Management of the Nigerian National Petroleum Corporation, NNPC on Friday provided an informed perspective to the trending media report alleging that the Corporation colluded with some banks to prevent the remittance of $793.2m into the Treasury Single Account, (TSA), scheme as directed by the Federal Government. The NNPC in …

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Forex manipulation: EFCC invites more senior CBN officials

The Economic and Financial Crimes Commission has invited more senior officials of the Central Bank of Nigeria as part of investigations into an alleged foreign exchange scam and other sharp practices within the apex bank. Reliable sources within the anti-graft agency said the investigators probing the scam believed strongly that …

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Naira makes U-turn, drops to 385

After weeks of regaining strength on the foreign exchange market, the naira moved in a reverse direction and dropped, albeit by a small margin, to 385 as against 382 on Thursday morning. However, the tale on the international scene is different, as it rose to 308.05 to a dollar, as against …

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Two CBN directors arrested for forex manipulation

The Economic and Financial Crimes Commission has arrested two directors of the Central Bank of Nigeria for alleged forex manipulation and economic sabotage. Impeccable sources at the EFCC told one of our correspondents on Wednesday that the directors were still in custody as of press time at 7.30pm. It was …

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