Banking

With plans by the Central Bank of Nigeria (CBN) to introduce a new capital base for deposit money banks in Nigeria, economists have cautioned the apex bank from making some mistakes made during the last recapitalisation of commercial banks in the country. The Founder of Centre for Promotion of Private …

Khadijah Abdulhamid, Husna from Sweet Haven High School, Kano State, rejected a handshake from Oliver Alawuba, CEO of United Bank of Africa [UBA] at the UBA Foundation Nigeria National Essay Competition awards presentation. She finished as the 1st runner-up at the finals. But at the point of presentation of her …

The Central Bank of Nigeria (CBN) has disclosed plans to increase the capital base of banks in the country. In his speech at the 2023 Bankers’ Dinner on Friday, CBN Governor Dr Olayemi Cardoso said while there has been stability in the banking sector, banks in the country were not …

●Association excited about trigger against frustration of students’ projects by lecturers National Association of Nigeria Students (NANS) has demanded from the Federal Government the setting up of a committee to review the Students Loan Act. The association made the demand last Tuesday in Abuja at a stakeholders’ meeting on the …

Barely a few days after berating his aides over what he described as poor misrepresentation of his administration, Governor Yahaya Bello of Kogi State has directed the freezing of all state and local government accounts with immediate effect. In a statement on Thursday, the Commissioner for Finance, Asiru Idris, said …

Since a social media post indicated that the immediate past Governor of Central Bank of Nigeria, CBN, Mr Godwin Emefiele and one-time Deputy Governor of CBN, Mr Tunde Lemo returned princely sums of money to the Nigeria government, there has been a growing concern in the polity against the backdrop …

The Central Bank of Nigeria has again postponed the meeting of its monetary policy committee despite the surge in inflation. A report by Bloomberg on Monday which quoted the CBN’s Director of Corporate Communications, Dr Isa Abdulmumin, said, “MPC is not holding” a meeting this week in a text message …

There seems to be no respite yet for the nation’s currency as the naira recorded the biggest fall in recent times exchanging for N1,105 at the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Central Bank of Nigeria (CBN) approved official market. The currency depreciated by over N200 within hours after …

The CBN had on October 26, 2022 said it will redesign the N200, N500, and N1,000 notes in order to take control of the currency in circulation. The Central Bank of Nigeria (CBN) says the old N200, N500, and N1,000 notes are to remain legal tender indefinitely. While new currency …

Naira scarcity is biting harder across the country as banks have limited cash withdrawals. Residents of Lagos, Abuja, Kano, Katsina, Jigawa and Adamawa and in other parts of the country are expressing concerns over their inability to withdraw huge cash in their banks, raising fears of scarcity as experienced during …