NNPCL Approves Creation Of New Department For Oil Revenue Transactions
In a move, the Nigerian National Petroleum Company Limited (NNPCL) announced the establishment of a new department in collaboration with the Central Bank of Nigeria (CBN) to streamline crude oil sales transactions. The Group Chief Executive Officer of NNPCL, Mele Kyari, disclosed this decision during a recent meeting with the CBN delegation, emphasizing the significance […]
Sell Excess Dollar In 24hrs, CBN Orders Banks
In a move to stabilize the nation’s exchange rate, the Central Bank of Nigeria (CBN) has issued a directive compelling Deposit Money Banks to sell their excess dollar stock by February 1, 2024. The decision, revealed in a circular titled “Harmonisation of Reporting Requirements on Foreign Currency Exposures of Banks,” aims to curb what the […]