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Access Bank acquires Grobank

Grobank Limited has been renamed Access Bank South Africa Limited. The deal was finalised after Access Bank’s acquisition of controlling shares in the former Grobank Limited, South Africa. With this development, Access Bank South Africa Limited is positioned to deliver a robust banking operation that connects key African markets. At …

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Just in: CBN extends Naira 4 Dollar Scheme

The Central Bank of Nigeria, CBN, said it has extended its Naira 4 Dollar Scheme until further notice. The apex bank disclosed this in a circular titled: “Re: Introduction of the CBN’s “Naira 4 Dollar Scheme’’, for Diaspora Remittances.” The circular, signed by Director, Trade and Exchange Department, CBN, Saleh …

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CBN sacks First Bank Chair Awosika, Otudeko, others

•Adeduntan back as MD/CEO The Central Bank of Nigeria (CBN) yesterday gave reasons it wielded the big stick on Chairman of First Bank Plc  Mrs. Ibukun Awosika and Chairman of FBN Holdings, Mr. Oba Otudeko. Some members on the bank’s Board of Directors (BoD) were fixed by the apex bank. …

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SEC to sanction CMOs frustrating e-dividend mandate

The Securities and Exchange Commission (SEC) has stated that it will sanction erring Capital Market Operators (CMOs) frustrating the e-dividend mandate process. Dividends are distribution of profits by a corporation to its shareholders and as at the last count, unclaimed dividends in the Nigerian Capital market stands at N200 billion. …

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Naira falls to near one-month low

The amount of dollar at the market fell by 70.96 per cent. The naira fell to a near one-month low against the dollar on Wednesday, as foreign exchange supply declined significantly. Data posted on the FMDQ Security Exchange where forex is officially traded showed that the naira closed at N411.00 …

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