Bank & Finance

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…
Jan 23, 2019
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has raised the alarm that Nigeria may return to the pre-2005 Paris Club debt level, if the Federal…
Jan 23, 2019
The rising gap between developmental needs and available financial resources – including poor revenue collection – has pushed sub-Saharan African governments to consider different options to support their budgets. One…
Jan 22, 2019
The International Monetary Fund has warned that escalating trade tensions could undermine global economic growth.   In a new report on the world economic outlook, the IMF also warns of…
Jan 21, 2019
South Africa has disclosed that it turned down a request from Zimbabwe for an emergency loan of $1.2bn (£932m) in December.   Treasury spokesman Jabulani Sikhakhane said South Africa did…
Jan 20, 2019
The shortage of U.S. dollars in the country has plunged the financial system into disarray and forced businesses to close. Zimbabwe will introduce a new currency in the next 12…
Jan 18, 2019
The Economic and Financial Crimes Commission (EFCC) on Wednesday, said a staggering sum of $217.7 billion was illegally taken out of Nigeria between 1970 and 2008.   The anti-graft agency…
Jan 17, 2019
The pound edged down Wednesday after the record defeat of British Prime Minister Theresa May’s Brexit plan but mostly held its ground as investors consider the next likely developments in…
Jan 16, 2019
The Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) has granted approvals in principle for the merger of Access and Diamond banks.   This was disclosed…
Jan 14, 2019
The Central Bank of Nigeria (CBN) on Friday, intervened in the Retail Secondary Market Intervention Sales by injecting the sum of $263 million, the first in 2019.   A statement…
Jan 13, 2019
The rand fell to a three-month low on Thursday but is slowly recovering against the dollar. Picture: iStock The rand tumbled to its weakest in three months on Thursday, as…
Jan 12, 2019
The Central Bank of Nigeria (CBN) on Friday, intervened in the Retail Secondary Market Intervention Sales by injecting the sum of $263 million, the first in 2019.   A statement…
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