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Wednesday, October 23, 2019

CBN encourages Islamic financial service standards

As part of efforts to sustain the growth of Islamic Banking in Nigeria, the Central Bank of Nigeria (CBN), in collaboration with the Islamic...

2016 budget Padding -We are not Responsible- Namdas

The House of Representatives on Tuesday said that legislators were not responsible for the padding of the 2016 budget proposal. The Chairman, House Committee on...

4 Banks in Trouble Over ATM Fraud

Nigerian banks in the past year paid out almost N400 million as cashback on the use of point of sale terminals even as four...

BVN Reduces Fraud, Transactions Hit N49 trillion

There were indications that despite the challenging economic situation and high-level sophistication of fraudsters, huge increase in the volume and value of transactions across...

N6.2bn Excess Charges Recovered from Banks-CBN

The Central Bank of Nigeria (CBN) said it had recovered about N6.2bn from Deposit Money Banks as excessive charges imposed on their customers in...

Naira Devaluation: Buhari Forecloses Speculations

Again, President Muhammadu Buhari has foreclosed the possibility of devaluing the naira, insisting that those with a taste for imported luxury goods should pay...

Value of PoS Transactions down to N46Bn in January

Merchants across the country recorded transactions through point of sale (PoS) terminals worth N46 billion in some 3.6 million number of transactions in January...

N5tr pension funds: Stakeholders to Discuss Investment

The House of Representatives has mandated its committees on Pensions, Finance and Capital Market institutions to interface with the Nigerian Pensions Commission (PenCom) and...

Forex: BDCs Forecast $21b diaspora remittances

Operators of Bureaux De Change (BDC) in Nigeria have forcasted annual forex inflow of $21 billion averagely from Nigerians in Diaspora for their continued...

Naira in Mess, Now N345/$ in parallel market

The Naira has suffered its biggest daily depreciation against the dollar as the exchange rate rose to N345 per dollar in the parallel market. This...

CBN Sold $2.5bn Forex in November, Got $2.48bn Inflow

The Central Bank of Nigeria ,CBN, in its Economic Report of the Nigerian Economy for the month of November 2015 said that $2.48 billion...

GT Bank announces final tender results

Guaranty Trust Bank on Friday announced the expiration and final tender results of the any and all cash tender offer with respect to the...
Godwin Emefiele CBN Governor

Forex Policy: German investors seek guarantee on profit repatriation

German investors in the country have sought guarantees from the Central Bank of Nigeria (CBN) on availability of foreign exchange to repatriate profits out...

SEC: Investors to Get Dividend Within 24hrs

Nigerian capital market will be making a good history in Africa with its e-dividend initiative as investors are to get value for dividend paid...

CBN to Minimise Forex Demands for Fees, overseas medicals

The Central Bank of Nigeria (CBN) is collaborating with Deposit Money Banks to work out strategies to minimise foreign exchange (forex) demand for school...

Public Officials Hijack BDCs, Says Gwadabe

An accusation by President Muhammadu Buhari recently that some banks and government officials run Bureau de Change (BDC) in the country using surrogates has...

Nigeria’s Economic Growth to hit 5.41% Annually

Nigeria's Economic growth is expected to pickup averaging 5.41 per cent annually between 2017 and 2019, the National Bureau of Statistics, NBS, has forecasted. The...

BoI to strengthen local production of armoured vehicles

 The Bank of Industry (BoI) has reiterated its commitment to financing manufacturing sector of the economy with aim of enhancing capacities of local production...

Naira Defies CBN’s Intervention, Exchanges for N320 per Dollar

Despite recent intervention of the Central Bank of Nigeria, CBN, in the inter-bank segment, the Naira continue falling in the parallel foreign exchange market,...

NDIC Issues Guidelines for Pass-Through Deposit Insurance Scheme

Following the introduction of mobile banking in Nigeria by the Central Bank of Nigeria (CBN) which issued operating licences to many deposit money banks...