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Key market indicators dropped further by 0.57 per cent at the nation’s bourse on Wednesday, on increased profit taking in banking and industrial sectors. The downturn was supported by investors’ portfolio readjustment ahead of first quarter earnings results. Specifically, the All-Share Index declined by 221.98 points or 0.57 per cent to close at 39,045.13, compared…
March 31, 2021
Financial experts have commended the retention of the Monetary Policy Rate (MPR) and other parameters by the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN). They said the outcome of the 278th MPC was in line with predictions and consistent with global trends among central banks. They said this in interviews with…
March 24, 2021
The Central Bank of Nigeria, CBN, has published a list of the international money transfer operators (IMTOs) approved for diaspora remittances. The bank had earlier introduced a “Naira 4 Dollar Scheme”, an incentive that pays naira to senders and recipients of international money transfers. The incentive will see recipients of diaspora remittances paid N5 for…
March 22, 2021
By Abiola Olawale The First City Monument Bank (FCMB) has upscaled its operations, and service to Nigerians as it introduced a cardless biometric transaction policy. FCMB customers can now seamlessly carry out various transactions with their fingerprints and Bank Verification Numbers (BVNs). Following the development, FCMB became the first bank in Nigeria to introduce paperless…
March 10, 2021
By Hamilton Nwosa (The New Diplomat’s Head, Polls & Data Tracking Desk) A 34 per cent surge in its asset base in 2020, has lifted Zenith Bank Plc’s value from N6.347 trillion to N8.481 trillion in one year, its audited financial statements showed on Tuesday. This makes it Nigeria’s biggest bank by asset. However, Zenith…
February 23, 2021
Bitoin hit a record-high above $43,000 on Monday after electric carmaker Tesla invested $1.5 billion in the digital currency. Bitcoin hit $43,725.51 around 1300 GMT, before cooling slightly to $42,352. The cryptocurrency is up around 50 percent since the start of the year.
February 8, 2021
From Segun Amure, (The New Diplomat's Abuja Bureau) The Central Bank of Nigeria (CBN) has given reasons on its enforcement of ban on cryptocurrencies in Nigeria amid citizens' backlash. CBN explained that its circular dated February 5, 2021 did not place any new restrictions on cryptocurrencies in Nigeria. CBN who spoke through its Acting Director,…
February 8, 2021
From Segun Amure, (The New Diplomat's Abuja Bureau) The Federal government of Nigeria through its apex bank, Central Bank of Nigeria (CBN) on Friday, directed all banks and other financial institutions operating in the country to close accounts of persons or entities involved in cryptocurrency transactions within their systems. In a letter to Deposit Money…
February 5, 2021
From Segun Amure, (The New Diplomat's, Abuja Bureau) The United States on Wednesday, 20th January, 2021 sworn-in President Joe Biden as the 46th President of America. Biden in his inaugural address lauded effort to protect America's democracy before, during and after the November 2020, Presidential election. In addition, he assured Americans of his administration's…
January 20, 2021
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Key market indicators dropped further by 0.57 per cent at the nation’s bourse on Wednesday, on increased profit taking in banking and industrial sectors. The downturn was supported by investors’ portfolio readjustment ahead of first quarter earnings results. Specifically, the All-Share Index declined by 221.98 points or 0.57 per cent to close at 39,045.13, compared…
March 31, 2021
Financial experts have commended the retention of the Monetary Policy Rate (MPR) and other parameters by the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN). They said the outcome of the 278th MPC was in line with predictions and consistent with global trends among central banks. They said this in interviews with…
March 24, 2021
The Central Bank of Nigeria, CBN, has published a list of the international money transfer operators (IMTOs) approved for diaspora remittances. The bank had earlier introduced a “Naira 4 Dollar Scheme”, an incentive that pays naira to senders and recipients of international money transfers. The incentive will see recipients of diaspora remittances paid N5 for…
March 22, 2021
By Abiola Olawale The First City Monument Bank (FCMB) has upscaled its operations, and service to Nigerians as it introduced a cardless biometric transaction policy. FCMB customers can now seamlessly carry out various transactions with their fingerprints and Bank Verification Numbers (BVNs). Following the development, FCMB became the first bank in Nigeria to introduce paperless…
March 10, 2021
By Hamilton Nwosa (The New Diplomat’s Head, Polls & Data Tracking Desk) A 34 per cent surge in its asset base in 2020, has lifted Zenith Bank Plc’s value from N6.347 trillion to N8.481 trillion in one year, its audited financial statements showed on Tuesday. This makes it Nigeria’s biggest bank by asset. However, Zenith…
February 23, 2021
Bitoin hit a record-high above $43,000 on Monday after electric carmaker Tesla invested $1.5 billion in the digital currency. Bitcoin hit $43,725.51 around 1300 GMT, before cooling slightly to $42,352. The cryptocurrency is up around 50 percent since the start of the year.
February 8, 2021
From Segun Amure, (The New Diplomat's Abuja Bureau) The Central Bank of Nigeria (CBN) has given reasons on its enforcement of ban on cryptocurrencies in Nigeria amid citizens' backlash. CBN explained that its circular dated February 5, 2021 did not place any new restrictions on cryptocurrencies in Nigeria. CBN who spoke through its Acting Director,…
February 8, 2021
From Segun Amure, (The New Diplomat's Abuja Bureau) The Federal government of Nigeria through its apex bank, Central Bank of Nigeria (CBN) on Friday, directed all banks and other financial institutions operating in the country to close accounts of persons or entities involved in cryptocurrency transactions within their systems. In a letter to Deposit Money…
February 5, 2021
From Segun Amure, (The New Diplomat's, Abuja Bureau) The United States on Wednesday, 20th January, 2021 sworn-in President Joe Biden as the 46th President of America. Biden in his inaugural address lauded effort to protect America's democracy before, during and after the November 2020, Presidential election. In addition, he assured Americans of his administration's…
January 20, 2021
