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The Nigerian currency, Naira, at the end of trading activities at the Investors & Exporters Foreign exchange Window (I&E), last week, appreciated against the US Dollar by 0.05 per cent to close at N360.0, amid weekly injections by the Central Bank of Nigeria (CBN). The apex bank during the week under review lifted the Foreign…
April 9, 2018
Operators in the Nigerian Stock Exchange (NSE) on Monday said that delay in the passage of the 2018 budget would negatively affect the capital market. Some of them expressed optimism that the 2017 earnings anticipated by investors this week would boost activities on the Exchange. They told the News Agency of Nigeria (NAN) in Lagos…
March 5, 2018
As a result of the high rate of e-banking fraud in Nigeria, the Nigerian Communications Commission (NCC) has collaborated with the Central Bank of Nigeria (CBN) and stakeholders in the sector to fight the menace. NCC at a one-day interactive workshop in Port Harcourt, the Rivers State capital said that all hands must be on deck…
December 27, 2017
The Central Bank of Nigeria has expressed concern that “not a penny” of the N26 billion Agri-Business, Small and Medium Enterprises Investment Scheme (AGSMEIS) has been disbursed nearly one year after its establishment, even as it expects the fund to hit N60 billion by the end of the year. To the end, it said the…
December 11, 2017
By 'Dotun Akintomide The apex bank Wednesday said it had injected $210 million sustain liquidity in the forex market. According to the Acting Director, Corporate Communications Department, CBN, Mr. Isaac Okorafor, the sum of $100 million was offered to the wholesale segment, while the Small and Medium Enterprises (SMEs) segment got an allocation of $55…
December 6, 2017
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
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The Nigerian currency, Naira, at the end of trading activities at the Investors & Exporters Foreign exchange Window (I&E), last week, appreciated against the US Dollar by 0.05 per cent to close at N360.0, amid weekly injections by the Central Bank of Nigeria (CBN). The apex bank during the week under review lifted the Foreign…
April 9, 2018
Operators in the Nigerian Stock Exchange (NSE) on Monday said that delay in the passage of the 2018 budget would negatively affect the capital market. Some of them expressed optimism that the 2017 earnings anticipated by investors this week would boost activities on the Exchange. They told the News Agency of Nigeria (NAN) in Lagos…
March 5, 2018
As a result of the high rate of e-banking fraud in Nigeria, the Nigerian Communications Commission (NCC) has collaborated with the Central Bank of Nigeria (CBN) and stakeholders in the sector to fight the menace. NCC at a one-day interactive workshop in Port Harcourt, the Rivers State capital said that all hands must be on deck…
December 27, 2017
The Central Bank of Nigeria has expressed concern that “not a penny” of the N26 billion Agri-Business, Small and Medium Enterprises Investment Scheme (AGSMEIS) has been disbursed nearly one year after its establishment, even as it expects the fund to hit N60 billion by the end of the year. To the end, it said the…
December 11, 2017
By 'Dotun Akintomide The apex bank Wednesday said it had injected $210 million sustain liquidity in the forex market. According to the Acting Director, Corporate Communications Department, CBN, Mr. Isaac Okorafor, the sum of $100 million was offered to the wholesale segment, while the Small and Medium Enterprises (SMEs) segment got an allocation of $55…
December 6, 2017
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
