Banking

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 …

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 …

•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. …

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. …

State governments will start paying back the loans provided to them between 2015 and 2016 by the Central Bank of Nigeria (CBN). The apex bank granted the loans to states as budget support facilities within the period, the CBN Governor, Godwin Emefiele, said during a visit to Nasarawa State. He …

Edo Governor Godwin Obaseki has said he won’t join issues with the Federal Government over his claim that N60 billion was printed in March to support allocation to states. Obaseki had lamented the fiscal state of the nation, stating Nigeria is in financial trouble. While speaking at the Edo state …

The Federal Government has denied it printed N60bn to augument March allocation to States as alleged by Edo Governor Godwin Obaseki. It described the allegation by Obaseki as untrue and sad. Minister of Finance, Budget and National Planning, Zainab Ahmed, told State House correspondents: “The issue that was raised by …

To ensure the effective tax administration across the country, tax managers from the 36 states and the Federal Capital Territory (FCT) are scheduled to meet in Abuja on April 19, this year, with technology experts and other stakeholders on ways to drive the digitalisation of the nation’s tax system. The …

The ‘Naira for Dollar’ policy of the Central Bank of Nigeria (CBN) has led to positive accretion to the foreign reserves exactly one month after takeoff. The foreign reserves, on April 1, stood at $34.85 billion, representing $404 million increase compared to $34.41 billion on March 11. The uptick in …

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 …