PM News Nigeria

US Treasury: China does not manipulate yuan

The US Treasury said Tuesday that China cannot be ruled a manipulator of its currency despite the yuan’s sharp slide since January. But the Treasury said the recent fall could “raise particularly serious concerns” if it represents a reversal in Beijing’s commitment to a more free-floating yuan. In a twice-yearly report to Congress, which would […]

Latvia joins Eurozone

Estonian Prime Minister Andrus Ansip (L) and Latvian Prime Minister Valdis Dombrovskis withdraw euros from a bank machine during a ceremony in Riga, Latvia, on January 1, 2014.  AFP

Latvia officially adopted the euro at the stroke of midnight local time, making the former Soviet state of two million people the 18th member of the crisis-hit eurozone. As a huge firework display roared in Riga, the people of this Baltic state bade a reluctant farewell to their cherished lat — seen as a symbol […]

Nigeria to ditch polymer Naira notes for paper

twenty naira polymer note to be scrapped

Nigeria is to revert to paper banknotes, the country’s central bank has announced, in a policy switch bucking a growing trend around the world for tougher polymer-based currency. The Central Bank of Nigeria (CBN) signed a deal in 2006 with Australia’s Securency International to print lower more-circulated units of the naira in polymer, while higher […]

Nigeria bans import of foreign currencies

US Fed says it will scale down bonds buying from January

The Central Bank of Nigeria (CBN) has banned the importation of all foreign currencies except with approval. According to a statement signed by CBN Director of Corporate Communications, Mr Ugo Okoroafor, on Tuesday in Abuja, the move was sequel to the Bank’s withdrawal of the operating licence of 20 Bureaux de Change (BDCs). The CBN […]

EFCC Arrests Serial Fraudster over $92,000 Scam

Dr. Princewell Arinze Chukwueze

Nigeria’s Economic and Financial Crimes Commission, EFCC, has arrested Dr. Princewell Arinze Chukwueze, an alleged serial fraudster, over a $92,000(Ninety-Two Thousand United States Dollars) scam. Chukwueze was arrested in Abuja by operatives of the EFCC after more than two months’ of frantic manhunt for him. His arrest followed an allegation of fraudulent transactions involving him […]

EFCC confirms arrest of ex-MINT MD

Ehi Okomoyon: arrested

The Economic and Financial Crimes Commission, EFCC has confirmed the arrest of Mr. Ehi Okomoyon, former Managing Director of the Nigerian Security Printing and Minting Company. P.M. NEWS gathered that Okoyomon who was forced to retire over the N2billion missing notes from the Mint under his leadership was arrested on Sunday by operatives of the […]

Tafa Balogun After Me, Currency Dealer Cries Out

Tafa Balogun: did he suffer from CSS too?

A bureau de change operator at the Murtala Mohammed International Airport, Lagos, Alhaji Usman Sani has dragged the former Inspector General of Police, IGP, Mr. Tafa Balogun before an Ikeja High Court for allegedly using the police to harass and intimidate him and his family Sani in the suit filed alongside his colleague, Alhaji Ahmed […]

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