As part of its efforts to strengthen the payments system in the country, the Central Bank of Nigeria (CBN) has directed commercial banks to allow savings account customers with Bank Verification Number (BVN) to lodge […]
“Banka’ toxic assets may hit N3.0 trillion”. Emeka Anaeto, Economy Editor, VAGUARD, July 17, 2016. When George Santayana, 1863-1952, warned that “Those who do not remember the past [mistakes] are condemned to repeat it” (VANGUARD […]
The Securities and Exchange Commission, SEC, yesterday stated that banks are now mandated to accept dividend warrants into the savings account of investors and as well get them enrolled free of charge in the e-Dividend […]
The Central Bank of Nigeria, CBN, on Thursday, directed banks and authorised forex dealers to sell the Pilgrims Travelling Allowance, PTA, to intending pilgrims at a concessionary exchange rate of N197 to $1. In a […]
LAGOS—The Central Bank of Nigeria, CBN, yesterday, directed banks operating in the country to accept deposit of cheques into savings account and to begin to embed Bank Verification Number, BVN in payment cards. The CBN, […]
To increase the volume of dollar in the market and stabilise the naira, the Central Bank of Nigeria (CBN) may compel banks to sell foreign currency proceeds of international money transfers to Bureaux De Change […]
In January 2016, the Central Bank of Nigeria announced that it had stopped, with immediate effect, the sale of foreign exchange to Bureau de Change operators, so as to reduce pressure on Nigeria’s foreign reserves. […]
It is believed that the Bank of England is in charge of world’s money supply. It appears that the history of this institution could reveal its secret. Well before the conflict for establishing a National […]
Skye Bank continued its resurgence for the second day running as the share stood as the best performer on the Nigerian Stock Exchange (NSE) on Tuesday morning. The share price gained over nine percent to […]
Customers are free to open accounts without deposits, the Central Bank of Nigeria (CBN) has said. The directive is contained in the Monetary, Credit, Foreign Trade and Exchange Guidelines for Fiscal Years 2016/2017 guidelines posted […]
BIG cash crunch has hit Nigeria – no thanks to poor returns from oil and the inability of revenue agencies to meet their targets. The implementation of the budget has taken a hit, Budget Minister […]
There is no need to panic, Skye Bank Plc customers were yesterday assured following the changes in the bank. The new Group Managing Director/Chief Executive Officer, Tokunbo Abiru, affirmed the Central Bank of Nigeria’s (CBN’s) […]
Timothy Oguntayo, chief executive officer (CEO) of Skye Bank, has resigned from the bank, following the decision of the Central Bank of Nigeria (CBN) to fire the top management of the bank and dissolve existing […]
There was a mild drama at the investigative public hearing on the alleged mismanagement of the N120bn Aviation Intervention Fund organised by the Senate Committee on Aviation on Wednesday when the Chairman of the defunct […]
LAGOS — As banks begin to settle into the dynamics of the flexible foreign exchange regime, which will take effect from Monday, the Central Bank of Nigeria, CBN, is set to name the lead players […]
The Central Bank of Nigeria (CBN) is “reasonably optimistic” the naira will settle at around 250 to the US dollar, Reuters reports. However, the bank projects that there will be an initial period of weakness […]
The Central Bank of Nigeria (CBN) has finally released the guidelines of the new foreign exchange policy earlier announced on Wednesday. Godwin Emefiele, the CBN governor, announced the new policy on Wednesday, releasing the naira […]
The Central Bank of Nigeria (CBN) is suggesting that the new band for the naira, pending the direction of market forces, will be between 260 and 270 to the dollar. Godwin Emefiele, the CBN governor, […]
The Central Bank of Nigeria (CBN) Wednesday announced what it termed the “automatic adjustment mechanism of the exchange rate” in a flexible foreign exchange regime aimed at reducing the pressure on the Naira. CBN has […]
Copyright © 2024 | MH Magazine WordPress Theme by MH Themes
