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When in February, the Central Bank of Nigeria (CBN) directed banks and other financial institutions to cease transactions in cryptocurrencies and facilitating payment for cryptocurrency exchanges, several stakeholders raised concern about the directive. In the memo, dated February 5, the apex bank instructed banks and other financial institutions to identify individuals or entities that transact…
July 24, 2021
With more women moving into traditionally male-dominated industries and a rise of millennial women globally over the past decade, Nigerian women particularly have been taking a cue from the global trajectory as no fewer than eight women are now in the upper echelon of the banking sector in Nigeria, occupying positions that were hitherto reserved…
July 20, 2021
Mrs. Yemisi Edun has been confirmed as the substantive Managing Director/Chief Executive Officer of First City Monument Bank (FCMB), becoming the first female boss at the new generation bank. With the appointment, the bank's Board of Directors has finally eased out its former MD, Mr Adam Nuru, who was suspended in January over corporate governance…
July 13, 2021
The Lagos Zonal Office of the Economic and Financial Crimes Commission, EFCC, on Friday, arraigned one Mr Andrew Warri before Justice Sherifah Solebo of the Special Offences Court sitting in Ikeja, Lagos. Warri, who was arrested at the Lagos Airport, was arraigned on a seven count charge bordering on stealing, obtaining by false pretence, issuance…
June 26, 2021
In a marathon judgment, Justice Lateefat Okunnu of the Ikeja High Court sentenced Francis Atuche, a former Managing Director of the defunct Bank PHB (now Keystone Bank), to six years’ imprisonment for defrauding the bank of N25.7 billion. The judgment on Wednesday drew the curtains on the 10 year trial. In the 12-hour judgment, Justice…
June 17, 2021
The Central Bank of Nigeria (CBN), has announced the extension of the deadline of the Naira4Dollar policy. According the apex bank, the policy is to continue till further notice. The policy rewards Nigerians with N5 for every $1 they receive through the licensed International Money Transfer Operators (IMTOs). The apex bank introduced the policy on…
May 6, 2021
First Bank of Nigeria (FBN) on Friday confirmed that Dr Adesola Adeduntan had resumed as the Chief Executive Officer in line with the directives of the Central Bank of Nigeria (CBN). A statement by the management of the bank said Adeduntan had resumed as directed by the apex bank. “We can confirm that the bank…
April 30, 2021
Nigerian business mogul and Chairman of Honeywell Group, Dr. Oba Otudeko risks the forfeiture of his company and other assets of interest to Asset Management Corporation of Nigeria (AMCON) over an alleged breach of corporate contract in securing a loan said to be up to the tune of N77 billion from First Bank. The business…
April 30, 2021
Appoints Remi Babalola, Chairman First Bank Limited; Other Appointments Made The Central Bank of Nigeria (CBN) has sacked the entire board members of First Bank Limited and FBN Holdings PLC, while also announcing new appointments to replace them as the management crisis rocking the foremost bank in West Africa reaches a breaking point, Thursday. Until…
April 29, 2021
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When in February, the Central Bank of Nigeria (CBN) directed banks and other financial institutions to cease transactions in cryptocurrencies and facilitating payment for cryptocurrency exchanges, several stakeholders raised concern about the directive. In the memo, dated February 5, the apex bank instructed banks and other financial institutions to identify individuals or entities that transact…
July 24, 2021
With more women moving into traditionally male-dominated industries and a rise of millennial women globally over the past decade, Nigerian women particularly have been taking a cue from the global trajectory as no fewer than eight women are now in the upper echelon of the banking sector in Nigeria, occupying positions that were hitherto reserved…
July 20, 2021
Mrs. Yemisi Edun has been confirmed as the substantive Managing Director/Chief Executive Officer of First City Monument Bank (FCMB), becoming the first female boss at the new generation bank. With the appointment, the bank's Board of Directors has finally eased out its former MD, Mr Adam Nuru, who was suspended in January over corporate governance…
July 13, 2021
The Lagos Zonal Office of the Economic and Financial Crimes Commission, EFCC, on Friday, arraigned one Mr Andrew Warri before Justice Sherifah Solebo of the Special Offences Court sitting in Ikeja, Lagos. Warri, who was arrested at the Lagos Airport, was arraigned on a seven count charge bordering on stealing, obtaining by false pretence, issuance…
June 26, 2021
In a marathon judgment, Justice Lateefat Okunnu of the Ikeja High Court sentenced Francis Atuche, a former Managing Director of the defunct Bank PHB (now Keystone Bank), to six years’ imprisonment for defrauding the bank of N25.7 billion. The judgment on Wednesday drew the curtains on the 10 year trial. In the 12-hour judgment, Justice…
June 17, 2021
The Central Bank of Nigeria (CBN), has announced the extension of the deadline of the Naira4Dollar policy. According the apex bank, the policy is to continue till further notice. The policy rewards Nigerians with N5 for every $1 they receive through the licensed International Money Transfer Operators (IMTOs). The apex bank introduced the policy on…
May 6, 2021
First Bank of Nigeria (FBN) on Friday confirmed that Dr Adesola Adeduntan had resumed as the Chief Executive Officer in line with the directives of the Central Bank of Nigeria (CBN). A statement by the management of the bank said Adeduntan had resumed as directed by the apex bank. “We can confirm that the bank…
April 30, 2021
Nigerian business mogul and Chairman of Honeywell Group, Dr. Oba Otudeko risks the forfeiture of his company and other assets of interest to Asset Management Corporation of Nigeria (AMCON) over an alleged breach of corporate contract in securing a loan said to be up to the tune of N77 billion from First Bank. The business…
April 30, 2021
Appoints Remi Babalola, Chairman First Bank Limited; Other Appointments Made The Central Bank of Nigeria (CBN) has sacked the entire board members of First Bank Limited and FBN Holdings PLC, while also announcing new appointments to replace them as the management crisis rocking the foremost bank in West Africa reaches a breaking point, Thursday. Until…
April 29, 2021
