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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
The Central Bank of Nigeria (CBN) has queried the Board of the First Bank of Nigeria Plc for removing Dr Adesola Adeduntan, the Managing Director/Chief Executive Officer, without regulatory approval. The query is contained in a letter dated April 28, 2021 signed by the CBN Director, Banking Supervision, Mr Haruna Mustafa, and obtained by the…
April 29, 2021
The nation’s bourse key market indicators closed the week upbeat on Friday with a growth of 0.43 per cent. The market capitalisation increased by ₦89 billion or 0.43 per cent to close at N20.568 trillion against N20.479 trillion posted on Thursday. Also, the All-Share Index which opened at 39,131.80 inched higher by 170.02 points or…
April 23, 2021
Trading on the Nigerian Exchange (NGX) Ltd., ended on a cautious note on Thursday with the key indicators recording a marginal gain of 0.01 per cent. The upward trend was sustained as a result of buy-interest in United Bank for Africa (UBA), FBN Holdings and Oando. Thus, the All-Share Index rose by 3.46 points or…
April 22, 2021
The Central Bank of Nigeria (CBN) has ordered Deposit Money Banks (DNBs) and Bureau De Change (BDC) operators to, henceforth, accept old and lower denomination U.S dollars as legal tender. The apex bank gave the order in a circular signed by its Director of Currency Operations Department, Mr Ahmed Umar. Umar said that the CBN…
April 21, 2021
Nigeria's Currency in circulation (CIC) hits N2.81 trillion in March 2021, rising by N29 billion from the N2.78 trillion recorded in February. This was contained in the latest figures obtained from the official website of the Central Bank of Nigeria (CBN). According to the figures, March recorded the highest CIC since December 2020. The CIC…
April 19, 2021
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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
The Central Bank of Nigeria (CBN) has queried the Board of the First Bank of Nigeria Plc for removing Dr Adesola Adeduntan, the Managing Director/Chief Executive Officer, without regulatory approval. The query is contained in a letter dated April 28, 2021 signed by the CBN Director, Banking Supervision, Mr Haruna Mustafa, and obtained by the…
April 29, 2021
The nation’s bourse key market indicators closed the week upbeat on Friday with a growth of 0.43 per cent. The market capitalisation increased by ₦89 billion or 0.43 per cent to close at N20.568 trillion against N20.479 trillion posted on Thursday. Also, the All-Share Index which opened at 39,131.80 inched higher by 170.02 points or…
April 23, 2021
Trading on the Nigerian Exchange (NGX) Ltd., ended on a cautious note on Thursday with the key indicators recording a marginal gain of 0.01 per cent. The upward trend was sustained as a result of buy-interest in United Bank for Africa (UBA), FBN Holdings and Oando. Thus, the All-Share Index rose by 3.46 points or…
April 22, 2021
The Central Bank of Nigeria (CBN) has ordered Deposit Money Banks (DNBs) and Bureau De Change (BDC) operators to, henceforth, accept old and lower denomination U.S dollars as legal tender. The apex bank gave the order in a circular signed by its Director of Currency Operations Department, Mr Ahmed Umar. Umar said that the CBN…
April 21, 2021
Nigeria's Currency in circulation (CIC) hits N2.81 trillion in March 2021, rising by N29 billion from the N2.78 trillion recorded in February. This was contained in the latest figures obtained from the official website of the Central Bank of Nigeria (CBN). According to the figures, March recorded the highest CIC since December 2020. The CIC…
April 19, 2021
