Banking and Finance

The Central Bank of Nigeria has warned Nigerians to be wary of counterfeit naira notes in circulation amid reports of currency shortage in the country. In a statement released on Friday titled ‘Beware of Counterfeit Naira Banknotes in Circulation,’ the apex bank advised…

The President of the African Development Bank (AfDB), Dr Akinwumi Adesina, has called on African leaders to create quality jobs for their teeming unemployed youths, to stem the trend of brain drain bedevilling the continent. Adesina said in Abuja on Friday at the Second…

According to a circular from the Nigeria Interbank Settlement System Plc (NIBSS), banks in Nigeria have been directed to take down every non-deposit-taking financial institution from their NIP (NIP is an account-based, online real-time Electronic Funds Transfer (EFT) platform.)fund transfer channels. The NIP fund transfer…

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has approved the Apex Bank’s reviewed service Charter. This was disclosed in a statement issued by the CBN on Thursday, with the Service Charter said to be a requirement of the Business…

The Central Bank of Nigeria (CBN) says it will freeze accounts without a Bank Verification Number (BVN) or National Identification Number (NIN) from April 2024. This is according to a Friday circular by the apex bank which instructed banks to place a “Post…

As the crises of unclaimed dividend lingers, the Securities and Exchange Commission, SEC, has concluded arrangement to create a new e-dividend portal that will facilitate the processing of shareholders’ dividend payment. The Director General of SEC, Lamido Yuguda, disclosed this last weekend while answering…

For the second time in two months, the Central Bank of Nigeria (CBN) has postponed the Monetary Policy Committee (MPC) meeting where key monetary decisions are expected to be decided. This is happening amidst the rising inflation in the country with stakeholders expecting…

The Central Bank of Nigeria said that its monetary policy reforms are beginning to have positive effects on the country’s economy. Reacting to the just-released inflation rate for October in a statement issued by the Director of the Corporate Communications Department, CBN Isa…

ProvidusBank Limited, a commercial bank founded in 2016, has taken bold steps to acquire majority stake in Unity Bank Plc, as part of the former’s business expansion plan. The arrangement which Unity Bank that had been struggling to beef up its minimum capital…

The Central Bank of Nigeria (CBN) says the old N200, N500, and N1,000 notes are to remain legal tender indefinitely. While new currency notes were introduced last year with the old ones set to cease as legal tender, the apex bank on Tuesday…