CBN Appoints New Executives for Polaris, Union, Keystone Banks The Central Bank of Nigeria has appointed new executive directors to oversee the operations of Polaris, Union, and Keystone banks, just few hours after dissolving their board of directors. The apex bank, in a statement signed by...

Alleged Illegal Acquisition: CBN Fires Union, Keystone, Polaris Bank Boards   There are strong indications that the Central Bank of Nigeria (CBN) has finally wielded the big stick on some erring banks in the wake of details of alleged malfeasance that emerged from the report submitted...

Court Restrains Emefiele’s Re-arrest, Fines EFCC N100m The Federal Capital Territory High Court in Abuja has declared the prolonged detention of the former Governor of the Central Bank of Nigeria, Godwin Emefiele, without trial as a flagrant violation of his fundamental rights. The court slammed a...

FX Liquidity Conditions To Remain Tight Amid $33bn Reserve Level   Despite Nigeria’s FX reserves starting the year on a positive note, economic analysts have said they expect FX liquidity conditions to remain tight pending receipt of expected FX inflows. According to data obtained from the Central...

$2bn Debt: Airlines Get $62m As CBN Repays Banks The Central Bank of Nigeria (CBN) has paid $2bn to clear a part of its backlog of matured foreign exchange obligations to the Deposit Money Banks. Reports have put CBN’s forward contract obligations to banks at $7bn....

FG Extends Free Train Rides Till Sunday The Federal Government has extended the free train ride initiative till Sunday to further reduce financial pressure on travellers heading to various destinations after the festive period. The Managing Director, Nigerian Railway Corporation, NRC, Mr Fidet Okhiria, revealed this...