By Matthew Denis President and Chairman of the Council of the Association of National Accountants of Nigeria (ANAN), Dr. James Ekerare Neminebor, has highlighted the detrimental impact of corruption, mismanagement, and lack of accountability on national growth and development. In…
The Central Bank of Nigeria (CBN) plans to expend the use of its digital currency, eNaira, to facilitate payments into government accounts and allow Ministries, Departments, and Agencies (MDAs) to initiate vendor and beneficiary payments. This is according to the…
Nigeria’s foreign exchange (FX) reserves rose by $621.2 million in 10 days following the successful sale of a domestic dollar bond. The gross FX reserves increased from $36.24 billion on September 2, 2024, to $36.87 billion by September 12, 2024.…
First Bank of Nigeria saw a significant surge in the Nigerian stock market during the second week of September, with its share price climbing by 31.81 percent. This jump followed the bank’s announcement on Friday, 7th September 2024, of the…
A surge in fraudulent activities across banking platforms in Nigeria led to a loss of N42.6 billion by Nigerian banks in three months between April and June this year. This was revealed by the Financial Institutions Training Centre (FITC) in…
With three months left before the deadline set for Bureau De Change (BDC) operators to meet new capital requirements, compliance remains elusive as operators cite stringent conditions. This is raising concerns over the retention of their operating licences. In May…
By Seun Ibiyemi Nigeria’s external reserves, also known as foreign currency reserves, jumped by $490 million in one week following the successful issuance of domestic dollar bonds by the Debt Management Office (DMO). Data from the Central Bank of Nigeria…
By Matthew Denis The Central Bank of Nigeria (CBN) has announced new directives for Payment Service Providers (PSPs). Effective immediately, all transactions conducted through Point of Sale (PoS) terminals—whether at physical or electronic locations—must be routed through a CBN-approved Payment…
The recently issued 500 million dollars FGN bond has recorded a subscription of 900 million dollars, indicating an oversubscription to the tune of 400 million dollars. This is according to a statement by Mr Mohammed Manga, Director, Information and Public…
By Esther Agbo To address food insecurity and support vulnerable communities, Fidelity Bank Plc has extended its Fidelity Food Bank programme to Eti-Osa Local Government Area in Lagos. The initiative, part of the bank’s ongoing Corporate Social Responsibility (CSR) efforts,…
