Banking and Finance

The Central Bank of Nigeria (CBN) says it is the role of the Securities and Exchange Commission (SEC) to regulate cryptocurrency transactions in the country, and not the responsibility of the apex bank. CBN Governor Olayemi Cardoso stated this during the apex bank’s…

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has hiked the benchmark interest rate by 200 basis points to 24.75 percent. This is according to a Tuesday communique by the CBN governor Yemi Cardoso after the second MPC meeting…

As the naira gradually appreciates against the dollar after months of unprecendented uncertainties, the Central Bank of Nigeria (CBN), on Monday, announced the sales of $10,000 to each of the eligible Bureau De Change (BDC) operators in the country at the rate…

With billionaire Femi Otedola as its new Chairman, First Bank of Nigeria Holdings Plc named two new non-executive directors for the holding company and three for the First Bank on Wednesday. Adewale Arogundade, the company’s Secretary, informed the Nigerian Exchange Group of recent developments within…

Central Bank of Nigeria (CBN) has lifted forex restrictions on the importation of milk and dairy products in the country in a move aimed at price cut. This is contained in a circular with the reference number TED/FEM/PUB/FPC/001/010 dated March 12, and sent to…

The Central Bank of Nigeria (CBN) has announced that all valid foreign exchange backlogs of s$7 billion have now been settled, fulfilling a key pledge of its Governor, Mr. Olayemi Cardosoo. In a statement on Wednesday, the apex bank’s Acting Director, Corporate Communications,…

Zenith Bank has named Adaora Umeoji as its first female Group Managing Director/Chief Executive. Her appointment, subject to the approval of the Central Bank of Nigeria, takes effect from June 1, 2024, according to the bank. “She takes over from Dr. Ebenezer Onyeagwu, whose…

Nineteen directors at the Central Bank of Nigeria (CBN) are set to be dismissed in the coming days, following the recent termination of seven directors last Friday. While two of the terminated directors have accepted their fate, the other five are planning to…

The Central Bank of Nigeria has said that it has not introduced a new intervention as a result of the fertiliser it donated to farmers recently. The CBN donated the fertilisers through the Ministry of Agriculture and Food Security. The apex bank disclosed this in a…

Access Holdings Plc has announced the appointment and return of Mr. Aigboje Aig-Imoukhuede as its non-executive chairman. Aig-Imoukhuede replaces Mr. Abubakar Jimoh, the erstwhile chairman of the HoldCo, who remains on the Board as an independent non-executive director. Access Holdings said that “this visionary…