Recapitalisation: Banks May Consider Huge Dividend Payment – Expert Some analysts are projecting that banks may incentivise their shareholders with jumbo dividend payouts ahead of their capital-raising endeavours to meet the new requirements of the Central Bank of Nigeria. In March, Nigeria’s apex bank issued a...

Naira Appreciates to N1,120 per Dollar at Parallel Market The naira, on Monday, appreciated to N1,120 per dollar at the parallel section of the foreign exchange (FX) market. The current FX rate signifies a decrease of 9.67 percent from the N1,240/$ reported on April 3. Bureau de...

CBN Disallows Foreign Currency as Collateral for Naira Loans The Central Bank of Nigeria (CBN) has directed all banks to stop the use of foreign currency-denominated collaterals for naira loans. Adetona Adedeji, acting director of the banking supervision department at CBN, disclosed this in a statement...

First Bank to Seek Shareholders’ Approval for N300bn Capital Raise   First Bank Holding Plc, one of the nation’s premier commercial banks, will seek shareholders’ approval to raise N300 billion in additional capital at the group’s Extraordinary General Meeting (EGM) scheduled to hold virtually on Tuesday,...

CBN Set to Sell $10,000 to BDCs at N1,101 per Dollar  The Central Bank of Nigeria has again announced the sales of dollars to Bureau De Change operators. It disclosed this in a circular uploaded to its website on Monday. The apex bank said it is set...

Naira Exchanges for 1245 Against Dollar in Official Window The naira has reached its highest level against the dollar since January 2023, trading at N1,245 to the dollar at the official window. This represents the fourth straight week of gains for the local currency, which has...