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The Supreme Court has backtracked on its earlier ruling which dismissed Guaranty Trust Bank’s (GTB) appeal against a N2.4 billion judgment in favour of Innoson Motors Nigeria Limited. The apex court set aside the ruling, while delivering a judgment in an application by GTB seeking the re-listing of the appeal on the grounds that it…
January 17, 2022
A Federal High Court, Abuja, on Monday, convicted and sentenced Abdulrasheed Maina, Chairman, defunct Pension Reformed Task Team (PRTT), to 8 years imprisonment. Justice Okon Abang, in his judgment, held that the Economic and Financial Crimes Commission (EFCC) had proven the essential ingredients of all the 12 counts preferred against Maina beyond reasonable doubt in…
November 9, 2021
Two leading telecommunications giants, MTN Nigeria and Airtel have finally been given approval-in-principle by the Central Bank of Nigeria (CBN) to commence banking business in Nigeria. However, the approval is likely to come with dire consequences for financial institutions in the country, The New Diplomat has learnt. Checks by The New Diplomat revealed that the…
November 5, 2021
Less than two days after its launch by the Central Bank of Nigeria (CBN), the eNaira application has been removed from Google Play Store after series of complaints by users. The digital currency has two applications, which are eNaira speed wallet and eNaira merchant wallet. They were rolled out on the Google play store and…
October 28, 2021
Nigerians have continued to react as the Naira sold between N572 and N575 to a $1 at the parallel market despite the suspension of the activities of AbokiFX. AbokiFX, a website that collates black market exchange rates in Nigeria, had suspended activities following allegations by the Governor of Central Bank of Nigeria (CBN), Godwin Emefiele…
September 20, 2021
Threatens To Prosecute Website Owner, Olumide Oniwinde The Central Bank of Nigeria (CBN) Monetary Policy Committee has voted to retain its key lending rate at 11.5 per cent as the federal government continues to fight the disturbing inflationary trend that made Nigerians to pay more for goods and services in the country. The Committee also…
September 17, 2021
Dr Aniefiok Umoren, Zonal Coordinator, South-South and South-East, Development Finance Activities, Central Bank of Nigeria (CBN), says Small and Medium Scale Enterprises (SMEs) have the potential to reduce unemployment in the country. Umoren who disclosed this in a meeting organised in collaboration with the Cross River Government and the Chamber of Commerce in Calabar on…
August 19, 2021
The Central Bank of Nigeria (CBN) has gotten permission from the Federal High Court in Abuja to freeze 86 accounts of some companies and individuals over their alleged involvement in fraudulent foreign exchange (FOREX) activities. CBN says these activities are negatively affecting the value of the Naira. The request was filed by former Attorney-General of…
August 18, 2021
Naira Slides... Financial experts in the country have been reacting to the Central Bank of Nigeria (CBN) decision, banning the sales of forex to Bureau De Change (BDCs) operators and instead released a total of $200 million to all commercial banks operating in the country. The CBN's release is part of the effort to mitigate…
July 28, 2021
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The Supreme Court has backtracked on its earlier ruling which dismissed Guaranty Trust Bank’s (GTB) appeal against a N2.4 billion judgment in favour of Innoson Motors Nigeria Limited. The apex court set aside the ruling, while delivering a judgment in an application by GTB seeking the re-listing of the appeal on the grounds that it…
January 17, 2022
A Federal High Court, Abuja, on Monday, convicted and sentenced Abdulrasheed Maina, Chairman, defunct Pension Reformed Task Team (PRTT), to 8 years imprisonment. Justice Okon Abang, in his judgment, held that the Economic and Financial Crimes Commission (EFCC) had proven the essential ingredients of all the 12 counts preferred against Maina beyond reasonable doubt in…
November 9, 2021
Two leading telecommunications giants, MTN Nigeria and Airtel have finally been given approval-in-principle by the Central Bank of Nigeria (CBN) to commence banking business in Nigeria. However, the approval is likely to come with dire consequences for financial institutions in the country, The New Diplomat has learnt. Checks by The New Diplomat revealed that the…
November 5, 2021
Less than two days after its launch by the Central Bank of Nigeria (CBN), the eNaira application has been removed from Google Play Store after series of complaints by users. The digital currency has two applications, which are eNaira speed wallet and eNaira merchant wallet. They were rolled out on the Google play store and…
October 28, 2021
Nigerians have continued to react as the Naira sold between N572 and N575 to a $1 at the parallel market despite the suspension of the activities of AbokiFX. AbokiFX, a website that collates black market exchange rates in Nigeria, had suspended activities following allegations by the Governor of Central Bank of Nigeria (CBN), Godwin Emefiele…
September 20, 2021
Threatens To Prosecute Website Owner, Olumide Oniwinde The Central Bank of Nigeria (CBN) Monetary Policy Committee has voted to retain its key lending rate at 11.5 per cent as the federal government continues to fight the disturbing inflationary trend that made Nigerians to pay more for goods and services in the country. The Committee also…
September 17, 2021
Dr Aniefiok Umoren, Zonal Coordinator, South-South and South-East, Development Finance Activities, Central Bank of Nigeria (CBN), says Small and Medium Scale Enterprises (SMEs) have the potential to reduce unemployment in the country. Umoren who disclosed this in a meeting organised in collaboration with the Cross River Government and the Chamber of Commerce in Calabar on…
August 19, 2021
The Central Bank of Nigeria (CBN) has gotten permission from the Federal High Court in Abuja to freeze 86 accounts of some companies and individuals over their alleged involvement in fraudulent foreign exchange (FOREX) activities. CBN says these activities are negatively affecting the value of the Naira. The request was filed by former Attorney-General of…
August 18, 2021
Naira Slides... Financial experts in the country have been reacting to the Central Bank of Nigeria (CBN) decision, banning the sales of forex to Bureau De Change (BDCs) operators and instead released a total of $200 million to all commercial banks operating in the country. The CBN's release is part of the effort to mitigate…
July 28, 2021
