Banking and Finance

The Securities and Exchange Commission (SEC) has lamented the high number of unclaimed dividends in the capital market. A statement by the Commission in Abuja on Sunday, said Mr Lamido Yuguda, the Director-General of SEC, expressed the regret when Prof. Kabiru Bala, Vice-Chancellor…

The Central Bank of Nigeria (CBN) said it has adopted measures to mitigate the impending food crisis occasioned by the crisis in Russia and Ukraine. Governor of the CBN, Dr. Godwin Emefiele disclosed this in Kaduna, yesterday, during the unveiling of the…

Mr Godwin Emefiele, Governor, Central Bank of Nigeria (CBN) says the discontinuation of FX allocation to Bureau De Change operators had helped the Naira to remain stable at the Investors and Exporters Window (I&E) window. Emefiele said this at the 32nd Seminar organised…

The International Monetary Fund (IMF) has not foreclosed granting credit facilities to Nigeria and other emerging economies within its membership, it was learnt last night. Speaking during an online media parley in Washington DC, United States (U.S.), the IMF said the facilities…

The Management of Union Homes Savings and Loans Plc debunked a publication credited to one Lanre Olaoluwa on the 23rd of March, 2022, claiming the organization is currently on receivership. In a statement made available to The Lawyer, the management of the financial…

Amid inflationary pressures sparked in part by the Russia-Ukraine war, the Central Bank of Nigeria’s Monetary Policy Committee has retained the Monetary Policy Rate (MPR) at 11.5% and kept all other parameters unchanged. CBN Governor Godwin Emefiele made the announcement while addressing journalists…

All commercial banks in the country are to report in writing to the Economic and Financial Crimes Commission (EFCC) any individual transaction that is up to N5 million if President Muhammadu Buhari signs the bill into law. This is as the Senate yesterday…

The African Development Bank has announced a $1 billion plan to boost wheat production in Africa to avert potential food shortages arising from Russia’s invasion of Ukraine. According to the head of the continent’s biggest multilateral lender, Akinwumi Adesina, AfDB is raising the…

The Central Bank of Nigeria has pegged the minimum transaction limit for corporate and individuals transacting with Bank Neutral Cash Hubs at N1m and N500,000 respectively. The banking regulator disclosed this in a guideline for the registration and operation of Bank Neutral Cash…

Nigeria and other African countries are to benefit from sustainable, broadly-supported fiscal reforms planned by the International Monetary Fund (IMF). The package was announced in a joint statement at the end of a virtual African Fiscal Forum by the fund’s Managing Director Kristalina…