CBN Revokes Operational Licenses of 4,173 BDCs   The Central Bank of Nigeria (CBN) has revoked the licenses of 4,173 Bureaux De Change operators. This, the apex bank said, is in exercise of the powers conferred on it under the Bank and other Financial Institutions Act (BoFIA)...

CBN Revokes Operational Licenses of 4,173 BDCs   The Central Bank of Nigeria (CBN) has revoked the licenses of 4,173 Bureaux De Change operators. This, the apex bank said, is in exercise of the powers conferred on it under the Bank and other Financial Institutions Act (BoFIA)...

FBN Conundrum, an Abuse of Privilege? By Ademola Oyetunji Recent development at the nation’s premier commercial bank was both shocking and unexpected. Mind boggling though, but it has happened before. Boardroom rascality, a reminiscence of Intercontinental and Oceanic banks saga, where powerful management and shareholders leverage...

CBN Sacks FBN Board over removal of MD/CEO The governor of the Central Bank of Nigeria, Godwin Emefiele, has sacked the entire members of the board of First Bank Holding and First Bank Nigeria Ltd. Emefiele, in his speech broadcasted on national television cited insider abuse,...

AMCON Seeks Special Tribunal To Recover N5.4trn Debt       The Asset Management Corporation of Nigeria (AMCON) has approached the National Assembly to be accommodated in the provisions of the newly amended Banks and Other Financial Institutions Act, 2020 (BOFIA, 2020), which sets up Special Tribunals for...

CBN Revokes Licenses Of 7 Payment Service Providers         The Central Bank of Nigeria (CBN) has revoked the license of seven payment service providers since December 4, 2020. The agencies include Easifuel Limited, Transaction Processing System (TPS), Grand Towers Limited, and Paymastwer Limited. The rest are E-Revenue Gateway...