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Money and Capital market
REVEALED: Despite fraud investigation, CBN approves Unity Bank merger with Providus Bank, provides…
By Editor
The Central Bank of Nigeria (CBN) has approved the proposed merger between Unity Bank and Providus Bank, despite a lengthy fraud investigation that followed multiple allegations of severe compliance…
EFCC arrests former Union Banks staff for stealing N4m from dead customer
Maureen Aguta
Operatives of the Economic and Financial Crimes Commission (EFCC) at the Makurdi Zonal Command have arrested two former employees of Union Bank for allegedly stealing the sum of N4, 199,500 belonging to a…
Fidelity Bank ranked among top banks in ESG rating
Maureen Aguta
A recent survey commissioned by the Independent Project Monitoring Company (IPC) Limited has ranked Fidelity Bank PLC fourth out of 29 Nigerian banks in Environmental, Social and Governance (ESG)…
Reps order CBN to suspend controversial cybersecurity levy immediately
Maureen Aguta
The House of Representatives has ordered that the Central Bank of Nigeria (CBN) to immediately suspend the enforcement of the controversial cybersecurity levy.
The decision of the House was sequel to…
Recapitalisation : Access Bank confident of raising $300m, says Aig-Imoukhuede
Maureen Aguta
Chairman of Access Holdings Plc, Aig-Imokhuede has expressed confidence about raising $300 million in capital for Access Bank, considering the bank’s strong market position and shareholder support.…
Corporate Affairs Commission places First Bank records on caveat as board crisis worsens
Maureen Aguta
The Corporate Affairs Commission (CAC), has placed the records of First Bank of Nigeria (FBN) Holdings on caveat pending the resolution of the crisis rocking the board of the bank as a result of multiple…
CBN approves daily sales of $10,000 to 1,588 BDC operators
Maureen Aguta
The Central Bank of Nigeria (CBN) has approved daily sales of $10,000 to 1,588 eligible Bureau De Change operators at the rate of N1, 101 to the dollar.
The Director, Trade and Exchange…
CBN bans foreign currencies as collateral for naira loans
Maureen Aguta
The Central Bank of Nigeria (CBN) has directed all banks in the country to stop the use of foreign currencies as collateral for naira loans.
CBN gave the directive in a circular issued by the Director of…
Inefficiency: Customers decry GTBank poor services delivery as bank blames network failure
Maureen Aguta
Customers of Guaranty Trust Bank (GTB) Plc were left in a lurch on Thursday evening as the banking platform experienced hours of service failure across all its portals.
Investigations revealed that…
Non-performing loans: Banks in panic mode as CBN sets to commence regulatory oversight
Maureen Aguta
Indication on Thursday was that major Nigerian banks are in a state of panic as the new Central Bank of Nigeria (CBN) Governor Olayemi Cardoso moves to wield his regulatory oversight by scrutinizing the…