The Central Bank of Nigeria (CBN) on Tuesday announced the approval for a pivotal financial accommodation to support the proposed merger between Unity Bank Plc and the Providus Bank Limited. The apex bank, in a statement by its acting Director of Corporate Communications, Hakama Sidi-Ali, said the move is designed to bolster the stability of […]
Continue ReadingThe Central Bank of Nigeria has barred some microfinance banks, including Moniepoint, Opay and Kuda, from opening new accounts and accepting new customers over allegations that they were being used to funnel cryptocurrency and manipulate the naira’s value, sources familiar told newsmen on Monday. Sources confided in The Gazette anonymously since they were not authorised […]
Continue Reading
On January 18, 2024, Federal Airports Authority of Nigeria FAAN had announced the relocation of its headquarters from Abuja to Lagos after a directive from Festu Keyamo, minister of aviation and aerospace development. The Central Bank of Nigeria (CBN) also made a similar announcement. However the move has continued to elicit controversial debates nationwide. Some […]
Continue Reading
Titan Trust Bank (TTB) has 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 on Wednesday submitted the report of his investigations into the acquisition of Union […]
Continue Reading
By Blessing Bliss Chukwuma The Central Bank of Nigeria has revoked the operating licenses of 132 Microfinance banks, four primary mortgage banks and three finance companies in Nigeria. The publication stated that the licenses of the financial institutions and companies were revoked because they ceased to carry on their business in Nigeria for a period […]
Continue Reading
by Suoyo Ekubo The Supreme Court of Nigeria has temporarily halted the move by the Federal government to ban the use of the old N200, N500 and N1000 notes as legal tenders from February 10. The Supreme court gave the order while delivering judgment in the exparte application filed before it by the […]
Continue Reading
by Mitchelle Uzorka The Central Bank of Nigeria (CBN) has reportedly released the sum of $265 million to airlines operating in Nigeria to settle outstanding ticket sales. Confirming the release, the Director, Corporate Communications Department at the CBN, Mr. Osita Nwanisobi, said; ” the CBN Governor, Godwin Emefiele, and his team were concerned about the […]
Continue Reading
by Mitchelle Uzorka Parts of Central Bank of Nigeria office in Makurdi the capital of Benue was engulfed in fire on Thursday morning. The fire incident reportedly started around 7am but was quickly put off by men of the Federal Fire Service. Although the bank is yet to acknowledge the incident, sources say the fire […]
Continue Reading
By Mitchelle Uzorka The Nigeria Customs Service (NCS) on Thursday March 24th, 2022 reiterated its rejection of the e-valuator and e-invoicing for import and export businesses in Nigeria. The electronic valuation and invoicing system was introduced by the Central Bank of Nigeria (CBN) last year to create a benchmark for the calculation of import […]
Continue Reading