Category: Capital Market/Banking

MPC Communique
September 26, 2018 No Responses

MPC Communique

Background The Monetary Policy Committee (MPC) met on the 24th and 25th of September, 2018 and evaluated developments in the global and domestic economic and financial environments in the first eight months of 2018, as well as the outlook for the rest...
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Heritage Bank Wins Three Agric, SME Awards
September 24, 2018 No Responses

Heritage Bank Wins Three Agric, SME Awards

Heritage Bank Plc has been adjudged “Best SME Bank Nigeria 2018” by Capital Finance International (CFI.co) and “Agriculture Bank of the Year 2018” by the Nigeria Agriculture Awards (MAA). Also, the bank was awarded the Best CIBN Chapter of the...
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Rivers, Bayelsa, Lagos Top Investment Destination In First Six Months Of 2018
September 22, 2018 No Responses

Rivers, Bayelsa, Lagos Top Investment Destination In First Six Months Of 2018

For the first six months of 2018, three states comprising of Rivers, Bayelsa and Lagos State   top list of foreign investment destination in Nigeria.    A report put together by the Nigeria Investment Promotion Commission (NIPC) explained that Rivers State...
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CBN Revokes Skye Bank’s licence
September 22, 2018 No Responses

CBN Revokes Skye Bank’s licence

The Central Bank of Nigeria (CBN) has revoked the operating licence of Skye Bank Plc. However, depositors’ funds, according to the apex Bank remain safe.    Governor of the CBN, Godwin Emefile, broke the news on Friday at a press...
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CBN Acquires 2.4b FG’s Shares In NSPM
September 19, 2018 No Responses

CBN Acquires 2.4b FG’s Shares In NSPM

The Central Bank of Nigeria (CBN) and the Bureau of Public Enterprises(BPE) have signed an agreement for the sale of the Federal Government’s 12.4 billion shares in Nigerian Security Printing and Minting company (NSPM) to CBN. The ceremony was chaired...
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Again, CBN Lifts FOREX Market With $210m
September 19, 2018 No Responses

Again, CBN Lifts FOREX Market With $210m

The Central Bank of Nigeria (CBN) has again intervened in the inter-bank Foreign Exchange Market to the tune of $210 million. According to the figures obtained from the CBN on Tuesday, September 18, 2018, the Bank offered $100million to authorized...
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BoI, Exim Bank Seal $500m MoU
September 17, 2018 No Responses

BoI, Exim Bank Seal $500m MoU

A $500 million financing support agreement has been signed by the Bank of Industry (BoI), the Development Finance Institution (DFI) and the Export-Import Bank of China (CEXIM).  According to BoI’s Managing Director/Chief Executive Officer Olukayode Pitan, t...
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Financial Experts Meet On Global Cyber Resilience
September 15, 2018 No Responses

Financial Experts Meet On Global Cyber Resilience

Key global and regional payment, clearing and settlement operators met at a roundtable in Paris on Friday to discuss cyber security and the resilience of financial market infrastructures (FMIs) and the wider market ecosystem.  Senior executives, together with...
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Heritage Bank MD Implores Commercial Banks On SMEs Growth, Vibrant Economy
September 12, 2018 No Responses

Heritage Bank MD Implores Commercial Banks On SMEs Growth, Vibrant Economy

The MD/CEO of Heritage Bank Plc, Mr. Ifie Sekibo on Tuesday  tasked commercial banks to intervene in building a formidable economy driven on the wheel of Small and Medium Scale Enterprises (SMEs) because there is lots of value and opportunities...
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Citi Bank Nigeria Silent On Alleged Unauthorised Remittance Of FOREX
September 6, 2018 No Responses

Citi Bank Nigeria Silent On Alleged Unauthorised Remittance Of FOREX

A response letter on the alleged unauthorised remittance of foreign exchange on behalf of MTN has been forwarded to the Central Bank of Nigeria (CBN) by the management of Citi Bank.   However, the management of Citi Bank in a...
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UBA’s Leo launched on WhatsApp
September 4, 2018 No Responses

UBA’s Leo launched on WhatsApp

Pan-African Financial Institution, United Bank for Africa (UBA) has announced the commencement of its chat bank ‘Leo’ on the WhatsApp platform.   With Leo on WhatsApp, customers who are users and lovers of the app can now can perform basic banking...
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UBA Appoints Four New Directors
September 1, 2018 No Responses

UBA Appoints Four New Directors

The Board of Directors, United Bank for Africa (UBA) has  announced the appointment of four new members to its board, subject to the approval of the Central Bank of Nigeria(CBN).  The new board members are Mrs. Erelu Angela Adebayo, Ms....
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Nigeria Sanctions Standard Chartered, Stanbic IBTC, Diamond Bank, Citibank, MTN
August 30, 2018 No Responses

Nigeria Sanctions Standard Chartered, Stanbic IBTC, Diamond Bank, Citibank, MTN

The Central Bank of Nigeria (CBN) has imposed sanctions totaling N5.87 billion on four banks under its regulatory purview and asked same to refund the sum of $8,134,312,397.63 for what it described as ‘flagrant violation of extant laws and regulations...
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Naira Gains Marginally Against Dollar At Parallel Market
August 30, 2018 No Responses

Naira Gains Marginally Against Dollar At Parallel Market

The Naira on Wednesday gained 30 kobo to exchange at N359 to the dollar at the parallel market in Lagos, against N359.30 on Tuesday. The Pound Sterling and the Euro closed at N464 and N414, respectively. At the Bureau De...
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