Banking

First Bank of Nigeria Limited on Tuesday announced that one of its staff at its Marina, Lagos branch, has tested positive to coronavirus (COVID-19). According to a statement by the bank, all staff of the branch have been asked to go on self-isolation and get tested, while the branch and …

President Muhammadu Buhari has nominated Nigeria’s former Minister of Finance, Ngozi Okonjo-Iweala, for the position of Director General.of the World Trade Organisation. The Federal Government had earlier nominated Yonov Frederick Agah, Nigeria’s permanent representative to WTO, for the position. In a Diplomatic Note no 146/2020 by Embassy of Nigeria and …

President Muhammadu Buhari is meeting with embattled President, African Development Bank (AfDB), Dr. Akinwumi Adesina in the Presidential villa. Adesina has been under scrutiny after he was accused of impropriety by the Bank Ethics Committee. Former Presidents Olusegun Obasanjo and Goodluck Jonathan intervened vehemently defended Adesina against the charges. Although, …

The naira on Thursday exchanged at N450 to  dollar at the parallel market as build up on dollar demand continued to rise. The naira is seen weakening on the black market as dollar demand rises from foreign investors and importers with payment obligations accumulated amid hard currency shortages triggered by …

We welcomed year 2020 with enthusiasm after a “detty” December with brand new, “chasis”, resolutions, back slapping, rejuvenated gusto and hope. Hope for a new beginning, hope for a better tomorrow, hope for another chance to make right those things that weren’t so right in our lives. Hope, while thankful …

The Central Bank of Nigeria (CBN) has directed deposit money banks to attend to customers who wish to clear cheques. In a statement by Sam Okojere, Director, Banking Services Department, CBN, the apex bank said that the suspension placed on cheque clearing has been lifted effective April 28. CBN had …

The Central Bank of Nigeria (CBN) says no damage was done to any records in a fire outbreak in its Jos branch on Tuesday. The Bank’s Director, Corporate Communications Department, Mr Isaac Okorafor  said this in a statement in Abuja. Okorafor said the minor fire had been effectively put out …

First Bank of Nigeria Limited has announced the donation of N1 billion toward the joint effort by the Nigerian Private Sector Coalition Against COVID-19 (CACOVID). Chief Executive Officer of the bank, Adesola Adeduntan, made this known in a statement in Lagos on Monday. Mr Adeduntan said the donation was to rapidly …

The dollar exchanged for N412 on Monday at the Bureau De Change segment of the market. This followed a temporary suspension of sale of forex to the Bureau De Change operators in the industry by the Central Bank of Nigeria. The Association of Bureaux De Change Operators of Nigeria had …

The ministry of Finance, Budget and National Planning and Central Bank of Nigeria (CBN) have announced that skeletal activities will be allowed in Nigeria’s Financial System and Money Markets as three cities, Lagos, Abuja and Ogun begin a lockdown Monday night to enable the containment of coronavirus pandemic. Minister of finance, …