Emefiele emerges President of African Central Banks

Emefiele emerges President of African Central Banks

(NAN) The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has been elected President of the Association of African Central Banks (AACB). Mr. Emefiele, who was elected at the 39th Ordinary meeting of the Assembly of Governors of...
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FCMB blames NPA for non-remittance of funds

FCMB blames NPA for non-remittance of funds

By Moses Ebosele –     The management of First City Monument Bank (FCMB) has admitted receiving Euro payments for Nigerian Ports Authority (NPA).   Briefing the Nigerian Stock Exchange (NSE) in a statement obtained by City BusinessNews (www.citybusin...
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Buhari tasks African Central Banks on repatriation of stolen funds

Buhari tasks African Central Banks on repatriation of stolen funds

President Muhammadu Buhari has urged African Central Banks to play crucia role in the repatriation of stolen funds.   Speaking at a meeting of the association of central bank governors in Abuja, Buhari called for the removal of all bureaucracies...
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First Bank denies alleged concealment of NPA’s N11.2Billion

First Bank denies alleged concealment of NPA’s N11.2Billion

By Moses Ebosele –   First Bank Nigeria has denied any involvement in the alleged concealment of N11.2 Billion belonging to the Nigerian Ports Authority (NPA).   In a statement sent to the Nigerian Stock Exchange (NSE) and obtained by City BusinessNe...
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GTBank proposes 25k interim dividend

GTBank proposes 25k interim dividend

For the half year ended June 30, 2016, Guaranty Trust Bank Plc has proposed 25 kobo interim dividend.  In its report to the Nigerian Stock Exchange (NSE), the Bank also declared gross earnings of ₦209.9 billion, an increase of 37...
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‘Skye Bank is neither distressed nor liquidated’

‘Skye Bank is neither distressed nor liquidated’

By Moses Ebosele –      The Central Bank of Nigeria (CBN) has refuted alleged liquidation of Skye Bank Plc.    In a statement issued on Thursday, CBN Acting Director (Corporate Communications), Isaac Okorafor, said the Bank is “neither distressed...
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CBN increases BDCs weekly sales to $50,000

CBN increases BDCs weekly sales to $50,000

 The Central Bank of Nigeria (CBN) has increased the amount of foreign exchange that Bureaux De Change (BDCs) can access from $30,000 to $50, 000 per week.  Speaking in Abuja on Tuesday, Directors of CBN and some Managing Directors of...
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NDIC tasks Jaiz Bank on Corporate Governance

NDIC tasks Jaiz Bank on Corporate Governance

By Bademi Johnson –   To successfully tackle various challenges facing Nigeria’s banking Industry, the management of Jaiz Bank Plc has been advised to strengthen its corporate governance mechanism. The Managing Director/Chief Executive Officer of Nig...
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Union Bank declares N8.7B profit in six months

Union Bank declares N8.7B profit in six months

For the first six months of this year, Union Bank of Nigeria Plc recorded profit after tax of N8.7 Billion compared with N6.3 Billion within same period in 2015.   According to the Bank, total assets also increased from N1.046...
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First Bank seeks clarification on alleged N11.2B fraud

First Bank seeks clarification on alleged N11.2B fraud

First Bank of Nigeria on Saturday denied any involvement in the alleged N11.2 Billion fraud at Nigerian Ports Authority (NPA).   An online medium, PREMIUM TIMES had on Saturday reported  that the newmanagement of the Nigerian  Ports Authority has uncovered....
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Diamond Bank explains online loan application platform

Diamond Bank explains online loan application platform

By Moshood Aliyu –     Diamond Bank has raised the bar in Nigeria’s financial services sub-sector with the introduction of an online loan application platform that allows customers to request for a loan, monitor and receive automatic feedback on the...
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Zenith Bank posts 15.68 % drop in profit

Zenith Bank posts 15.68 % drop in profit

For the half year ended June 30, 2016, Zenith Bank Plc reported Profit After Tax (PAT) of N44.8 Billion, down by 15.68 per cent when compared with N53.1 Billion recorded within same period in 2015.   Details of the result...
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SEC to stop dividend warrant in 2017

SEC to stop dividend warrant in 2017

By Moses Ebosele –     AS part of measures to encourage investors in the Nigerian capital market to embrace e-dividend, the Securities and Exchange Commission (SEC) has concluded plans to abolish dividend warrant in June 2017.  Briefing Journalists i...
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‘Don’t sell more than $30,000 per week to BDC’

‘Don’t sell more than $30,000 per week to BDC’

The Central Bank of Nigeria (CBN) on Tuesday directed Bureau De Change (BDCs) operators not to sell foreign exchange above two per cent margin of the buying rate. This is contained in a statement in Lagos signed by W.D Gotring,...
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