The Central Bank of Nigeria (CBN) has directed banks and other financial institutions to immediately freeze the accounts and assets of individuals and companies designated for terrorism and terrorism financing, following fresh sanctions imposed by Nigerian and United States authorities. The directive was contained in a circular dated June 24, 2026, issued by the CBN’s […]
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Guaranty Trust Holding Company Plc (NGX: GTCO; LSE: GTCO), today announced that it has increased its investment in its wholly owned Banking subsidiary, Guaranty Trust Bank Limited (“GTBank”) to ₦504 billion through a rights issue subscription for 6,994,050,290 ordinary shares of fifty kobo each made by GTBank for a total consideration of ₦365,850,403,572.67, thus increasing […]
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Alhaji Aliko Dangote, Chairman of the Dangote Group, has expressed concern over the decision of the Central Bank of Nigeria, CBN, to raise the interest rate to nearly 30 per cent. Speaking at a summit hosted by the Manufacturers Association of Nigeria (MAN), on Tuesday at the State House in Abuja, the business mogul made […]
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The Nigerian Deposit Insurance Corporation (NDIC) has revealed that it is already in the process of paying Heritage Bank depositors. The managing director of NDIC, Bello Hassan, made the disclosure and gave the assurance during a press briefing in Abuja on Wednesday. Recall that on June 3, the Central Bank of Nigeria (CBN) revoked the banking licence […]
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The Central Bank of Nigeria (CBN) has announced the appointment of new chief executive officers and Executive Directors for Union, Keystone and Polaris banks following the dissolution of the board of the financial firms. In a statement on Wednesday, signed by Sidi-Ali Hakama, CBN’s acting director of corporate communication, the newly appointed executives for Union […]
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Tasked with an immediate need to reform the financial sector, President Bola Ahmed Tinubu, on Friday suspended Godwin Emefiele, the governor of Central Bank of Nigeria, CBN from office with immediate effect. The suspension of the CBN Governor was announced in a statement by signd by Willie Bassey, Director of Information, for the Secretary to […]
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The Central Bank of Nigeria (CBN) has issued operational guidelines for open banking in the country. This is contained in a circular signed by Musa Jimoh, director of payments system management department on March 7, 2023. What is Open Banking? Open banking is the sharing of financial information electronically, securely, and only under conditions that customers approve […]
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NATIONAL BROADCAST BY HIS EXCELLENCY MUHAMMADU BUHARI, PRESIDENT, FEDERAL REPUBLIC OF NIGERIA ON THE CHALLENGES OF THE CURRENCY SWAP AND STATE OF THE NATION, ON 16th FEBRUARY, 2023 My Dear Compatriots,I have found it necessary to address you today, on the state of the nation and to render account on the efforts of our administration […]
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The Supreme Court Wednesday gave an interim order stopping the central bank of Nigeria (CBN) from ending the use of old naira notes from 10 February, the News Agency of Nigera (NAN) reports. A seven-member panel of the Supreme Court led by John Okoro, made the ruling on Wednesday in an ex parte application brought […]
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The Governor of Edo State, Mr. Godwin Obaseki has described the redesign naira notes by the Central Bank of Nigeria (CBN) as political and diversionary. Governor Obaseki who stated this on Wednesday in Benin, while inaugurating the Peoples Democratic Party (PDP) Women Campaign Council, added that the move was a ploy by the All Progressives […]
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