Polaris Bank has taken over the assets and liabilities of Skye Bank, the Central Bank of Nigeria said today. Consequently, the CBN has revoked the operating licence of Skye Bank Plc with immediate effect. Governor of Central Bank, Godwin Emefiele, disclosed this during a press briefing in Lagos on Friday. Emefiele said the decision was […]
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The Central Bank of Nigeria (CBN) has ordered four banks to pay a total sum of N5.87 billion for allegedly issuing irregular certificates of capital importation (CCIs) on behalf of some offshore investors of MTN Nigeria Communications Limited. The apex bank has also written to MTN, asking it to refund $8 billion to the coffers […]
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The Central Bank of Nigeria (CBN) has promised to support banks to enable them give loans to players in the agricultural and manufacturing sector at a single digit interest rate. Addressing journalists on Thursday after the CBN Bankers’ Committee meeting, Ahmed Abdullahi, CBN director, banking supervision, said the loans will only be available for job […]
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The Central Bank of Nigeria (CBN), on Saturday, directed all commercial banks to resolve disputes arising from use of Unstructured Supplementary Service Data (USSD) channel within three days. Mr Dipo Fatokun, CBN’s Director, Banking and Payment Systems Department, gave the directive at the ‘Meet The Executive’ forum organised by Finance Correspondents Association of Nigeria (FICAN) […]
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Barely two years to the 2020 target to reduce unbanked Nigerians to 20 per cent, the Central Bank of Nigeria (CBN) says the country’s unbanked population currently stands at 37 per cent. Mr Dipo Fatokun, Director, Banking & Payment Systems, CBN, stated this at the third Annual Banking Security Summit organised by MAXUT Consulting in […]
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President Muhammadu Buhari has approved the nomination of Folashodun Shonubi as deputy governor at the Central Bank of Nigeria (CBN), subject to senate confirmation. Garba Shehu, senior special assistant to the president on media and publicity, made this known in statement in Abuja on Friday. Shonubi is currently the managing director of the Nigeria Inter-Bank […]
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Following reports that there was a fire outbreak at the headquarters of the Central Bank of Nigeria (CBN) in Abuja on Tuesday evening, the apex bank has come out to debunk the claim. The incident was said to have started around 6:30pm but firefighters brought it under control after 30 minutes. The billows of smoke […]
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The Nigerian senate has confirmed Aisha Ahmad and Edward Lametek as deputy governors of the Central Bank of Nigeria (CBN), and Adeola Adenikinju, Aliyu Sanusi and Robert Asogwa as members of the monetary policy committee (MPC). The nominees were confirmed after the report of Rafiu Ibrahim, Chairman Senate Committee on Banking, Insurance and Other Financial […]
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Data obtained from the Central Bank of Nigeria showed on Wednesday, showed that Nigeria’s foreign reserves hit $43.2bn on March 6, 2018. The foreign exchange reserves had recorded a four-year high at $42.76bn on March 2, after commencing this year at $38.77bn. The foreign reserves have gained about $3.99bn or 10.3 per cent this year. […]
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The Central Bank of Nigeria (CBN) has provided fresh $210 million to meet customers’ requests in various segments of the foreign exchange market. The Bank’s Acting Director, Corporate Communications Department, Isaac Okorafor, in a statement on Monday in Abuja, said that $100 million was offered to authorised dealers in the wholesale segment of the market. […]
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