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Banking
CBN boosts FX market with $20,000 to BDCs
The Central Bank of Nigeria (CBN) has decided to help people and businesses get U.S. dollars more easily.
They…
CBN sells dollars to BDCs at N1,590/$
The Central Bank of Nigeria (CBN) has decided to help people and businesses get more foreign money by allowing…
CBN Expected to Maintain Interest Rates as Inflation Declines Ahead of MPC Meeting
As the Central Bank of Nigeria (CBN) commences its 297th Monetary Policy Committee (MPC) meeting, financial…
Sterling Holdco boosts recapitalisation with N75b capital
Sterling Financial Holdings Company (Sterling Holdco) has successfully raised N75 billion to support the…
CBN to fine banks delaying customers’ complaints resolution
The Central Bank of Nigeria (CBN) has introduced stringent measures against commercial banks, payment service…
Banks sack 49 employees over fraud in Q2
Nigerian banks terminated 49 staff members for involvement in fraudulent activities between April and June 2024,…
CBN Appoints Full Board of Directors for Polaris Bank
The Central Bank of Nigeria (CBN) has announced a full board of directors for Polaris Bank, signaling significant…
Banks borrowed N3tn from CBN in one week – Report
Nigerian banks and discount houses borrowed N3tn from the Central Bank of Nigeria (CBN) through the Standing…
Guaranty Trust recorded N1tr profit in six months
Guaranty Trust Holding Company (GTCO) Plc has achieved a historic milestone by becoming the first Nigerian…
First Bank of Nigeria halts misconceptions, Clarifies sale of FBNQuest merchant…
First Bank of Nigeria (FBN) has confirmed that the recent sale of its 100% equity stake applies solely to FBNQuest…
FG eyes slice of OPay, Palmpay N46tn transactions
The Nigerian government is set to implement a new Electronic Money Transfer Levy (EMTL) from September 9, 2024.
…
CBN Raises N9.27tn via NTBs as Investors Seek Longer Maturities, Higher Returns
The Central Bank of Nigeria (CBN) successfully raised N9.27 trillion from Nigerian Treasury Bills (NTBs) across…
Unity Bank restores service, begins duty collection
Unity Bank Plc has announced the restoration of its services and readiness to collect customs duties from licensed…
CBN lifts suspension on bank borrowing, sets 31.75% lending rate
The Central Bank of Nigeria (CBN) has reinstated access to its Standing Lending Facility (SLF) following the…
CBN lifts suspension on Standing Lending facility
The Central Bank of Nigeria (CBN) has lifted the suspension on the Standing Lending Facility (SLF), allowing banks…
CBN, SEC okay Ecobank custody business
Ecobank Nigeria Limited has received approvals from the Securities and Exchange Commission (SEC) and the Central…
FCMB appoints new board members
First City Monument Bank Limited has appointed Ademola Adebise and Mrs. Olufunmilayo Adedibu to its board of…
Union Bank begins recapitalisation
Union Bank of Nigeria is kicking off a recapitalisation effort to boost its financial stability.
This move…
GTB confirms hackers attempt to compromise website
Guaranty Trust Bank Plc (GTBank) has confirmed an isolated incident involving an attempt to compromise its website…
Providus Bank pays Unity price for national dreams
Providus Bank is set to acquire Unity Bank, a financially troubled but strategically important bank, following…
Lack of BVN stalls 18% Heritage Bank’s depositors from reimbursement – NDIC
The Nigeria Deposit Insurance Corporation (NDIC) has announced that 82.36% of insured deposits belonging to…
NDIC pays N5m to Heritage Bank’s depositors
The Nigeria Deposit Insurance Corporation (NDIC) has successfully disbursed N5 million each to 82.36% of Heritage…
Union Bank Graduates Management Trainees
Union Bank of Nigeria has celebrated the graduation of its 2024 management trainees at a ceremony held at The…
New CBN circular clarifies existing rule on certificate of capital importation for…
The Central Bank of Nigeria (CBN) has issued a new circular detailing the documentation required for foreign…
Why CBN Injected N700bn Bailout In Unity Bank-Providus Bank Merger
The Central Bank of Nigeria (CBN) has approved a N700 billion financial package to support the merger between…
CBN okays Unity, Providus Banks’ merger arrangement
The Central Bank of Nigeria (CBN) has approved the merger between Unity Bank and Providus Bank. This decision was…
Bank directors disagree with Otedola, Elumelu on FX windfall tax
The Bank Directors Association of Nigeria (BDAN) has expressed disagreement with the views of FBN Holdings…
UBA emerges most visited Nigerian banking website
United Bank for Africa (UBA) has been named the most visited banking website in Nigeria, with 2.36 million visits…
Banks, others shut as hunger protest holds
Banks and financial institutions in Nigeria will be closed on Thursday, August 1, 2024, due to a planned hunger…
Banks’ Recapitalisation: Foreign investors moving in — Cardoso
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, announced an increase in foreign…