Bank & Finance

Feb 09, 2019
The federal government of Nigeria on Friday signed investment agreements with three Development Finance Institutions – Afreximbank, Bank of Industry and the Nigeria Sovereign Investment Authority (NSIA) – for the…
Feb 07, 2019
The Central Bank of Nigeria, CBN, has said that the Federal Government recorded fiscal deficit of N910.41 billion in the fourth quarter of 2018.   The CBN stated this in…
Feb 06, 2019
The dollar held steady against its peers on Wednesday, showing little reaction to U.S. President Donald Trump’s State of the Union address which touched upon trade and budget issues but…
Feb 05, 2019
The Central Bank of Nigeria, CBN, on Monday said there is no truth in a report alleging that faceless agents, backed by regulators, were exploiting the nation’s multiple exchange rates.…
Feb 05, 2019
The Central Bank of Nigeria (CBN) on Monday denied involvement in foreign exchange manipulation as alleged in one of the national dailies.   The bank’s Director, Corporate Communications of the…
Jan 30, 2019
Banks and other financial institutions are to pay N2.5 million in fine for the use of unapproved e-payment solutions in the country.   This is contained in CBN’s regulation on…
Jan 29, 2019
The Federal Government has started paying part of the N1.3trillion accrued funds being owed the Niger Delta Development Commission (NDDC).   This was disclosed by the Acting Managing Director of…
Jan 26, 2019
African leading commercial bank, Absa (Amalgamated Bank of South Africa) has ruled out the acquisition of a Nigerian bank in the pursuit of its aggressive growth strategy.   Absa’s Chief…
Jan 26, 2019
The Central Bank of Nigeria (CBN) has injected $289.76million into the retail secondary market intervention sales and CNY38.70million into the spot and short- tenored forwards segment of the inter-bank foreign…
Jan 25, 2019
The Federal Government is set to auction N150 billion worth of bonds on January 30, the Debt Management Office (DMO) has said.   The DMO, in a circular published on…
Jan 25, 2019
The Minister of Finance, Mrs Zainab Ahmed, says the Federal Government will increase the Value Added Tax on some items in the course of the year.   Some of the…
Jan 25, 2019
The Assets Management Corporation of Nigeria (AMCON) has said that it will commence the process for the sale of Polaris Bank, after the general elections.   Spokesman for AMCON, Jude…
Jan 24, 2019
Each branch of Deposit Money Banks (DMBs) in the country that pays out counterfeit or mutilated banknotes will be fined N1 million, the Central Bank of Nigeria (CBN) has said.…
Jan 24, 2019
Nigeria’s stock market recovered from Monday’s losses on Tuesday, with the market capitalisation appreciating by N1.6 billion to close at N11.462 trillion.   This is as a result of the…
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