Banking

World Trade Organization dropped three candidates from the race to be the next Director-General of the body. It also plans to reduce the contestants to two final candidates in the coming weeks. Nigeria’s Ngozi Okonjo-Iweala still remained in the race, according to Bloomberg on Friday. Okonjo-Iweala is a former finance minister in …

The Federal Government has ordered all Nigerians holding accounts across financial institutions and insurance firms to complete and submit Self-certification forms. President Muhammadu Buhari-led Federal government announced the decision in a terse statement on the micro-blogging site, Twitter on Thursday evening, September 17. Buhari government warned that failure to comply …

On Friday, the EFCC arrested a self-acclaimed hacker whose name is identified as Ihebuzo Chris for alleged cyber stalking. Report has it that Chris, a suspected serial cyber criminal, was arrested recently in Benin City, Edo State, following a petition received by the Commission from a new generation bank. The …

Nigeria’s Akinwumi Adesina has been re-elected as the President of the African Development Bank President for a second five-year term. The election took place electronically on Thursday at the virtual annual general meeting of the bank. Adesina’s reappointment on Thursday at the helm of the 56-year-old bank is considered a …

The scarcity of dollars at the parallel market on Tuesday in Lagos forced the Naira down to N480 to a dollar. The News Agency of Nigeria reports that the Pound Sterling and the Euro exchanged at N610 and N550, respectively. Trading at the investors’ window saw the naira closing at N385.98 …

Advocacy group, Socio-Economic Rights and Accountability Project, has asked the World Bank to tread carefully in the disbursement of $114.28m to Nigeria for the purpose of tackling economic challenges of the COVID-19 pandemic. The group said in giving the $114.28m facility to Nigeria, the World Bank must obtain an undertaking …

President of African Development Bank (AfDB) Dr Akinwumi Adesina has been completely absolved of ethical wrongdoings. A report of an Independent Review Panel led by a former Irish President, Mary Robinson, said Adesina is not guilty of any infraction alleged by petitioners.  The Independent Review Panel was set up by …

Three people, including a 19-year-old, were on Saturday arrested for trying to run a fake State Bank of India branch at Cuddalore district. The 19-year-old, the brain behind the move, decided to take things into his own hands after he failed to land his dream job at the bank. The three …

The naira weakened some 5.8 percent to N381 per dollar at the official market, Tuesday, as the Central Bank of Nigeria (CBN) took yet another step towards a convergence of its multiple exchange rates. The official rate which had been at N360/$ since March was quoted at N381/$ at market …

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 …