Banking and Finance

Titan Trust Bank (TTB) yesterday reacted to the special investigative report by the Jim Obazee panel into the activities of the Central Bank of Nigeria (CBN) under Godwin Emefiele, insisting that there was no fraud in the acquisition of Union Bank. Obazee, had…

The sacked governor of the Central Bank of Nigeria (CBN), Godwin Emefiele allegedly used proxies and purchased Union Bank of Nigeria (UBN), a report by Jim Obazee, the special investigator appointed by President Bola has shown. The late Alhaji Ismaila Isa Funtua, an…

Nearly three years after the Central Bank of Nigeria (CBN) restricted banks from operating accounts for cryptocurrency service providers and users, it has lifted the ban whilst still restricting financial institutions from directly transacting virtual assets. In a circular issued by the CBN…

The Central Bank of Nigeria says it is investigating collusion between the banks and Point-of-Sale operators over the lingering cash scarcity in the country. It said this in a statement titled, ‘CBN cautions banks, PoS operators over availability of the naira …Provides digital…

The Federal Inland Revenue Service (FIRS) has directed deposit money banks to deduct and remit Electronic Money Transfer Levy (EMTL) on foreign currency (FCY) transactions going forward. The levy is in line with the Finance Act 2020 and Stamp Act 2004, which impose…

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, said  in Abuja yesterday that the rising inflation and exchange rates will reduce drastically in 2024 . Cardoso, who also projected less revenue from  oil exports next year, declared that the total…

The Central Bank of Nigeria (CBN) has again assured members of the public that it is addressing the reported cases of cash scarcity in some major cities across the country. The apex bank said that currency in circulation as at December 11, 2023,…

The Central Bank of Nigeria (CBN) on Thursday said the country’s earning from oil exports is expected to shrink in 2024. CBN governor, Olayemi Cardoso, said this was due to the oil production limit, which is pegged at 1.78 million barrels per day…

The Securities and Exchange Commission (SEC) has sealed the office of Ready Finance Investors Limited, which is located at Flat 5, AYA Memorial Plaza, Nkwere Street, Area 11, Garki, Abuja for engaging in illegal investment and other capital market activities. A statement issued…