A total of 111 audit firms have started probing the 22 banks operating in the country for non-remittance of taxes and duties collected on behalf of the Federal Government. The PUNCH investigation showed that the firms were appointed by Revenue Mobilisation, Allocation and Fiscal Commission...

The Central Bank of Nigeria on Tuesday wielded the big stick as it barred nine Deposit Money Banks from the nation’s foreign exchange market for failing to remit the sum of $2.334bn belonging to the Nigerian National Petroleum Corporation to the Treasury Single Account. President...

The Nigeria Employers’ Consultative Association has clarified the alleged retrenchment of workers by some Deposit Money Banks in the country. The representative of employers’ in the private sector, at a press conference on Monday, explained that the issue of retrenchment in the banking sector had...

Stanbic IBTC, Zenith, First Bank, GTB lead As the Central Bank of Nigeria (CBN) continues with its demand management policy in foreign exchange (forex) allocation to financial institutions, the returns on foreign exchange utilisation have shown that it sold a total of $2,177,999,996 to commercial...