CBN Raises Interest Rate To 26.25 %

CBN Raises Interest Rate To 26.25 %

The Central Bank of Nigeria (CBN) has raised the interest rate by 150 basis points from 24.75 per cent to 26. 25 per cent. Following a two-day meeting, the bank’s Monetary Policy Committee (MPC) agreed to increase the Monetary Policy...
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CBN Directs Banks To Charge 0.5% Cybersecurity Levy

CBN Directs Banks To Charge 0.5% Cybersecurity Levy

The Central Bank of Nigeria (CBN) has directed deposit money banks in the country to start charging 0.5% cybersecurity levy on transactions. This was contained in a circular dated May 6, 2024 by the apex bank to all commercial, merchant,...
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UBA Declares N2.30kobo Final Dividend For 2023

UBA Declares N2.30kobo Final Dividend For 2023

United Bank for Africa (UBA) Plc, has released its audited financial results for the full year ended December 31, 2023. The 2023 financials, filed by the Bank at Nigerian Exchange Limited (NGx) on Monday, showed an impressive leap in gross...
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Access Holdings Unveils $1.5b Capital Raising Programme

Access Holdings Unveils $1.5b Capital Raising Programme

Access Holdings Plc has unveiled plans to establish a capital raising programme of up to $1.5 billion or its equivalent. In a statement on Friday, the corporation explained that drawing from the programme, the Group expected to raise up to...
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CBN Increases Capital Base For Banks To ₦500b

CBN Increases Capital Base For Banks To ₦500b

The Central Bank of Nigeria (CBN) has increased new minimum capital requirements for banks, pegging the minimum capital base for commercial banks with international authorisation at ₦500 billion. A circular signed by the Director, Financial Policy and Regula...
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Zenith Bank Appoints Adaora Umeoji As GMD/CEO 

Zenith Bank Appoints Adaora Umeoji As GMD/CEO 

The Board Directors of Zenith Bank Plc has appointed Dr. Adaora Umeoji as the Group Managing Director/ Chief Executive of Zenith Bank Plc.  The Bank in a statement to the Nigerian Exchange explained that the appointment is with effect from June ...
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AfDB Supports Nigeria With $134 Million To Cultivate Rice, Maize, Cassava, Soyabeans

AfDB Supports Nigeria With $134 Million To Cultivate Rice, Maize, Cassava, Soyabeans

The African Development Bank (AfDB) is supporting Nigeria in the cultivation of rice, maize, cassava and soyabeans to boost food production. The bank is providing $134 million to achieve this, it president, Dr Akinwunmi Adesina, said on Saturday after visiting...
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Parallex Bank Unveils Mobile App 2.0

Parallex Bank Unveils Mobile App 2.0

Parallex Bank Ltd. has announced the launch of a new and improved mobile banking app called Parallex Mobile App 2.0.  The Managing Director, Parallex Bank, Dr. Olufemi Bakre, said in a statement on Friday in Lagos, that the advanced mobile...
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Access Holdings Appoints Bolaji Agbede As Acting CEO

Access Holdings Appoints Bolaji Agbede As Acting CEO

Access Holdings Plc has appointed Bolaji Agbede as acting Chief Executive Officer (CEO) following the death of Herbert Wigwe in a helicopter crash in the United States of America. Agbede, who stands as the most senior founding Executive Director in...
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Cardoso To Nigerians: Moderate Demand For Forex

Cardoso To Nigerians: Moderate Demand For Forex

The Governor, Central Bank of Nigeria, (CBN), Olayemi Cardoso has implored Nigerians to cut down on their demand for forex. “We must moderate our demands for forex. Where there are opportunities to substitute locally, so we should.” the CBN governor...
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CBN Gov Pledges To Tackle Unauthorised Withdrawals

CBN Gov Pledges To Tackle Unauthorised Withdrawals

The Central Bank of Nigeria (CBN) has pledged to deal decisively with any bank found sabotaging monetary policies or guilty of unauthorised withdrawals from customer accounts. The Governor of the apex bank, Mr Olayemi Cardoso made the pledge on Tuesday...
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Ecobank Explains Nine Percent Interest Rate For SuperSavers Account Holders  

Ecobank Explains Nine Percent Interest Rate For SuperSavers Account Holders  

Ecobank Nigeria, a subsidiary of the Ecobank Group has announced interest rates on its SuperSavers accounts.  In a statement issued on Monday, Ecobank explained that the SuperSavers account is a high-yield savings account type tailored for customers who wish...
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Ecobank Reassures Customers Of 24-Hour Digital Banking Services

Ecobank Reassures Customers Of 24-Hour Digital Banking Services

Ahead of the Yuletide holidays, Ecobank Nigeria has reassured that customers will be able to shop seamlessly and carry out all their transactions via the Ecobank Digital platforms, which include the Ecobank Cards, Ecobank Mobile app, USSD *326#, Ecobank Online...
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Parallex Bank wins UK Reputable Bank award

Parallex Bank wins UK Reputable Bank award

Parallex Bank Ltd. has been recognised as the Reputable Bank of the Year by the Global Reputation Forum in the United Kingdom. The Chief Executive Officer of Parallex Bank, Dr Olufemi Bakre, who represented the bank at the event, made...
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