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Banking
Bank Directors Supports CBN on Foreign Currency Hoarding
The Bank Directors Association of Nigeria (BDAN) has expressed support for the Central Bank of Nigeria's (CBN)!-->…
Dollar Supply Surges, Naira Closes Week at N1435.53/$
In the official foreign exchange market, dollar supply witnessed a significant increase, rising by 180.59 percent!-->…
Iraq Bans Eight Local Banks from U.S. Dollar Transactions
Iraq has implemented a ban on eight local commercial banks from conducting U.S. dollar transactions as part of!-->…
CBN Sets $1m Minimum Share Capital Requirement for IMTOs
The revised guidelines for the operation of IMTOs, officially released via the CBN's website and signed by Dr.!-->…
Bullish Trading on Stock Market, Gaining N902bn
The stock market experienced a bullish resurgence on Thursday, resulting in a substantial gain of N902 billion.
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Banks Rush to Sell Excess FX Holdings Ahead of CBN Deadline
Commercial banks in Nigeria were in a frenzy on Thursday as they worked tirelessly to offload their surplus!-->…
FBN Holdings Reports N309bn Profit
FBN Holdings, in its Unaudited Consolidated Financial Statements for the period ended December 31, 2023, announced!-->…
CBN Orders Banks to Sell Excess Dollar Stock to Stabilise Exchange Rate
In a bid to stabilize Nigeria's volatile exchange rate, the Central Bank of Nigeria (CBN) has directed Deposit!-->…
Exchange Rate: Nigerian Naira Declines to N1, 531/$
The Nigerian naira experienced another decline on Tuesday in the official market, narrowing the disparity between!-->…
Foreign Exchange: Naira plungs to N1348.63/$
The Nigerian Autonomous Foreign Exchange Market witnessed a historic low on Monday as the naira plunged to!-->…
OPay Bolsters Security Measures to Combat Financial Fraud
Nigerian financial technology firm OPay has launched an array of security measures aimed at fortifying its!-->…
Manufacturers Lament over FGN’s 7BN Debt
The Manufacturers Association of Nigeria (MAN) predicted a tough start for manufacturers in 2024, especially in!-->…
NNPC and Marketers Clash Over Petrol Subsidy, PMA Proposes N1,200/Litre
Tensions have risen between the Nigerian National Petroleum Company Limited (NNPC) and fuel marketers, represented!-->…
Nigeria’s External Reserve Declines by $77m- CBN
In December 2023, Africa's largest economy, Nigeria, witnessed a decline in its external reserves, dropping by!-->…
Standard Chartered Bank Kenya Waives Upfront Fees for Online Money Market Fund
Standard Chartered Bank Kenya has announced the removal of the one percent upfront fee charge on its online money!-->…
World Bank Engages Nigerian Government on Effective Public Fund Utilization
The World Bank has communicated its engagement with the Federal Government of Nigeria to ensure that public funds!-->…
Economic Challenges Pose Strain on Nigerian Banks’ Operating Expenses, Warns…
As inflation and economic pressures continue to rise, Nigeria's deposit money banks (DMBs) are cautioned to brace!-->…
Google’s Former Director for West Africa, Juliet Ehimuan, Joins Zenith…
Juliet Ehimuan, a distinguished figure in the technology industry and former Director of Google West Africa, has!-->…
Nigeria’s Central Bank Introduces Forex Price Verification System
The Central Bank of Nigeria (CBN) has launched a Foreign Exchange Price Verification System aimed at facilitating!-->…
Kenya Commercial Banks Raise Base Lending Rates for Seventh Consecutive Month
Kenyan commercial banks have increased their base lending rates for the seventh consecutive month, reaching 13.31!-->…
NDIC Trains Law Enforcement Operatives to Probe Revoked MfBs and PMBs
The Nigeria Deposit Insurance Corporation (NDIC) has organized a workshop to train law enforcement operatives and!-->…
Nigerian Government Aims for N100 Trillion Asset Under Management (AuM) Growth…
The Nigerian Federal Government, represented by the Ministry of Finance Incorporated (MOFI), has set a target to!-->…
Nigerian Central Bank to Rename Official Forex Market as Nigerian Foreign Exchange…
The acting Governor of the Central Bank of Nigeria (CBN), Folashodun Shonubi, announced that the official foreign!-->…
Central Bank of Nigeria Exempts Microfinance and Primary Mortgage Banks from Cash…
The Central Bank of Nigeria (CBN) has issued a circular exempting Primary Mortgage Banks and Microfinance Banks!-->…
Central Bank of Nigeria Achieves 64.1% Financial Inclusion, Targets 95% by 2024
The Central Bank of Nigeria (CBN) has reported achieving a financial inclusion rate of 64.1%. The CBN aims to!-->…
NOVA Merchant Bank Receives Shareholder Approval for Transition to Commercial…
NOVA Merchant Bank has obtained the approval of its shareholders to transition into a commercial bank during its!-->…
NGX Reclassifies Fidelity Bank Plc’s Stock to Medium Price Category
The Nigerian Exchange Limited (NGX) has announced the reclassification of Fidelity Bank Plc's stock from Small!-->…
Fidelity Bank to Raise Additional Capital through Public Offer and Rights Issue
Fidelity Bank plans to seek approval from its shareholders to raise additional capital through the issuance of!-->…
NOVA Merchant Bank Unanimously Approved for Transition to Commercial…
Shareholders of NOVA Merchant Bank have given their unanimous approval to transition the bank into commercial!-->…
Access Bank and Standard Chartered Bank Finalize Agreement for African…
Access Bank Plc and Standard Chartered Bank have reached an agreement for Access Bank to acquire Standard!-->…