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Virtual currency Bitcoin continued its stratospheric rise on Wednesday, breaking  through the $10,000 barrier for the first, a record of over 900 per cent gain in 2017. The rapid rise has sparked  fears of an imminent bubble. The virtual currency hit a high of $10,379 in Asia, according to Bloomberg News, more than 10 times…
November 29, 2017
Nigerian Deposit Insurance Corporation has disclosed that from its examinations, most of the non-performing loans by the deposit money banks are insiders loan availed directors of the institutions. This was disclosed by Mr A.A Adeleke, Director, Bank Examination Department of the NDIC, while speaking on the topic, ‘Curtailing the Growth of Non-performing Loans in Banks’,…
November 27, 2017
The Central Bank of Nigeria (CBN) has disclosed that with the Bank Verification Number (BVN) in place, biometrics will soon be used for transactions on the Automated Teller Machine (ATM) instead of the existing pin code. Disclosing this in Ibadan at 2017 annual retreat of the Nigeria Electronic Fraud Forum (NeFF) held at Iyaganku, Ibadan…
November 20, 2017
Justice Nnamdi Dimgba of the Federal High Court in Abuja  has granted a request by Attorney General of the Federation, Abubakar Malami, for a temporary forfeiture of all funds held in bank accounts not linked to BVNs. Also to be forfeited are funds in accounts whose ownership could not be  identified. The order followed an…
October 22, 2017
Alhaji Aminu Goronyo, National President, Rice Farmers Association (RIFAN), says more than 12 million rice farmers will participate in this year’s Anchor Borrowers Programme of the Central Bank of Nigeria (CBN). Goronyo disclosed this to the News Agency of Nigeria (NAN) in Kaduna onThursday, while sensitising rice farmers to the requirements of the new phase…
October 5, 2017
The Naira on Tuesday exchanged at N364 to the dollar at the parallel market as the Monetary Policy Committee (MPC) meeting of the CBN holds benchmark interest rate at 14 per cent. The News Agency of Nigeria (NAN) reports that the MPC left the benchmark interest rate unchanged at 14 per cent, alongside other monetary…
September 26, 2017
Nine banks in the first six months of the year made N59.596 billion from account maintenance charges and electronic banking fees even as customers continue to groan under the several bank charges that are deducted from their accounts. United Bank for Africa, Stanbic IBTC, Access Bank, Guaranty Trust Bank, Zenith Bank, FBN Holdings, Diamond and…
September 14, 2017
Nigeria’s public debt stock for both the Federal Government and the states as at June 30 stood at N19.63 trillion, the Debt Management Office (DMO) said. The DMO, according to  a report on its website said the external debt stock of both the state and Federal governments  was N4.6 trillion,  while the domestic debt stock of…
September 12, 2017
The Central Bank of Nigeria (CBN) on Monday continued its intervention in the interbank foreign exchange market to the tune of $250million in three segments of the market. In the wholesale segment of the interbank forex market, it sold $100 million and also uplifted the small and medium enterprises (SMEs) and invisible segments, with the…
August 29, 2017
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Virtual currency Bitcoin continued its stratospheric rise on Wednesday, breaking  through the $10,000 barrier for the first, a record of over 900 per cent gain in 2017. The rapid rise has sparked  fears of an imminent bubble. The virtual currency hit a high of $10,379 in Asia, according to Bloomberg News, more than 10 times…
November 29, 2017
Nigerian Deposit Insurance Corporation has disclosed that from its examinations, most of the non-performing loans by the deposit money banks are insiders loan availed directors of the institutions. This was disclosed by Mr A.A Adeleke, Director, Bank Examination Department of the NDIC, while speaking on the topic, ‘Curtailing the Growth of Non-performing Loans in Banks’,…
November 27, 2017
The Central Bank of Nigeria (CBN) has disclosed that with the Bank Verification Number (BVN) in place, biometrics will soon be used for transactions on the Automated Teller Machine (ATM) instead of the existing pin code. Disclosing this in Ibadan at 2017 annual retreat of the Nigeria Electronic Fraud Forum (NeFF) held at Iyaganku, Ibadan…
November 20, 2017
Justice Nnamdi Dimgba of the Federal High Court in Abuja  has granted a request by Attorney General of the Federation, Abubakar Malami, for a temporary forfeiture of all funds held in bank accounts not linked to BVNs. Also to be forfeited are funds in accounts whose ownership could not be  identified. The order followed an…
October 22, 2017
Alhaji Aminu Goronyo, National President, Rice Farmers Association (RIFAN), says more than 12 million rice farmers will participate in this year’s Anchor Borrowers Programme of the Central Bank of Nigeria (CBN). Goronyo disclosed this to the News Agency of Nigeria (NAN) in Kaduna onThursday, while sensitising rice farmers to the requirements of the new phase…
October 5, 2017
The Naira on Tuesday exchanged at N364 to the dollar at the parallel market as the Monetary Policy Committee (MPC) meeting of the CBN holds benchmark interest rate at 14 per cent. The News Agency of Nigeria (NAN) reports that the MPC left the benchmark interest rate unchanged at 14 per cent, alongside other monetary…
September 26, 2017
Nine banks in the first six months of the year made N59.596 billion from account maintenance charges and electronic banking fees even as customers continue to groan under the several bank charges that are deducted from their accounts. United Bank for Africa, Stanbic IBTC, Access Bank, Guaranty Trust Bank, Zenith Bank, FBN Holdings, Diamond and…
September 14, 2017
Nigeria’s public debt stock for both the Federal Government and the states as at June 30 stood at N19.63 trillion, the Debt Management Office (DMO) said. The DMO, according to  a report on its website said the external debt stock of both the state and Federal governments  was N4.6 trillion,  while the domestic debt stock of…
September 12, 2017
The Central Bank of Nigeria (CBN) on Monday continued its intervention in the interbank foreign exchange market to the tune of $250million in three segments of the market. In the wholesale segment of the interbank forex market, it sold $100 million and also uplifted the small and medium enterprises (SMEs) and invisible segments, with the…
August 29, 2017
