Business

The Central Bank of Nigeria (CBN) has reacted to  claims by private entities,  individuals, law firms and government agencies that foreign currency funds allegedly transferred to them by foreign entities have yet to be credited to their accounts with Nigerian banks, saying those concerned should direct such inquiries to the…

Access Holdings PLC (“Access Holdings”) has announce that The Access Bank UK Limited (“Access UK”), a subsidiary of its banking group, has entered into a binding agreement to acquire a majority equity stake in AfrAsia Bank Limited (“AfrAsia Bank”), the third-largest bank in Mauritius by total assets. Mauritius, known for…

In a bid to ensure timely declaration of liquidation dividends to uninsured depositors of the failed Heritage Bank (In-Liquidation), the Nigeria Deposit Insurance Corporation (NDIC) has commenced process for the auction of landed properties and chattels of the failed bank. This exercise is in pursuant of the Corporation’s statutory powers…

The Central Bank of Nigeria (CBN) has clarified that there is no deadline for the use of the old N200, N500, and N1,000 banknotes, debunking rumors that these denominations will cease to be legal tender by December 31, 2024. In a statement released on Friday and signed by Acting Director…

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has reiterated the Bank’s commitment to developing the next generation of leaders in the financial and social sciences sectors. He has also emphasised the necessity of addressing the scarcity of skilled professionals in finance-related fields in Nigerian universities.…

The Central Bank of Nigeria (CBN) reiterates its strong commitment to safeguarding the stability and security of the Nigerian financial system. The apex bank in a statement on Tuesday by its Acting Director, Corporate Communications, Hakama Sidi Ali, said CBN recognises the crucial role that confidence plays in banking operations…

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has concluded his participation in the high-level Bretton Woods at 80 Forum, where he represented Africa’s interests on the global financial stage. The forum, organised by the International Monetary Fund (IMF) and World Bank Group (WBG), brought together a…

The Central Bank of Nigeria (CBN) has announced plans to sell $20,000 to each eligible Bureau De Change (BDC) at N1,590/$ in order to meet the demand for invisible transactions. According to a circular signed by Dr W.J Kanya, Trade & Exchange Department, “All BDCs are allowed to sell to…

The Dangote Group is partnering Abuja Chamber of Commerce and Industry (ACCI) to boost trade and investment in the country. Dangote Industries Limited is the major sponsor of the 19th edition of the Trade Fair which officially opens on Monday September 23,2024. Speaking to newsmen, Director General of ACCI, Sir…

Central Bank of Nigeria (CBN) has reacted to misinterpretation or misrepresentation of its biennial publication on Monetary, Credit, Foreign Trade, and Exchange Policy Guidelines published on September 17, 2024, saying the guidelines must primarily be viewed as a record of policies, circulars and directives issued by the bank up to…