Banking and Finance

Following the completion of the acquisition of Sigma Pensions and First Guarantee Pension, by Access Corporation, both companies have now been unveiled as Access Pensions. A statement said Access Pensions is a subsidiary of Access Corporation and this merger positioned the company as…

The Central Bank of Nigeria (CBN) has stated there is no plan to reverse the new cash withdrawal limit policy slated for take-off on January 9, 2023. It however hinted necessary reviews of the details of the policy would be carried out after implementation. Governor…

The President, Major General Muhammadu Buhari (retd.), has written the Senate, seeking the screening and re-confirmation of the some former deputy governors of Central Bank of Nigeria. President Buhari’s request is contained in a letter read on the floor of the Senate during…

The Central Bank Of Nigeria has imposed fresh cash withdrawal limits on individuals and organisations, which takes effect from January 9, 2023. According to a new memo to banks issued on Tuesday and signed by the Director of Banking Supervision, Haruna .B. Mustafa,…

The N100 Billion  federal government Sukuk put on offer has recorded about 165 percent oversubscription. The Debt Management Office (DMO) disclosed this in a statement on its website,  yesterday. The Offer for N100 Billion opened on November 21, 2022 and was supported by wide public…

The Federal Inland Revenue Service (FIRS) says it has approved a one-off waiver of all outstanding interests and penalties imposed on established tax liabilities by the TaxPro Max until December 31, 2022. The tax agency said this in a public notice released on Thursday…

The Central Bank of Nigeria injected $11.24bn into the economy to stabilise the value of the naira from January 2022 to July. This was obtained in the banking regulator’s monthly economic reports on foreign exchange market developments. The report showed that $7.6bn was used…

The Federal Government has borrowed N6.31tn from the Central Bank of Nigeria through Ways and Means Advances in 10 months. This has pushed the Federal Government’s borrowing from the CBN from N17.46tn in December 2021 to N23.77tn in October 2022. The N23.77tn owed the…

The Central Bank of Nigeria(CBN) says the country’s external reserves no longer come from selling crude oil. Godwin Emefiele disclosed this at the 57th annual bankers’ lecture organised by the Chartered Institute of bankers of Nigeria (CIBN) in Lagos on Saturday. Emefiele said…

The Securities and Exchange Commission has cautioned some fund managers to desist from holding on to client’s funds and securities. It warned that such habit would lead to dire consequences. The Director-General, SEC, Mr Lamido Yuguda, made this known during the post capital market committee…