By Idris Bakare The unorthodox foreign exchange policy of the Central Bank of Nigeria (CBN) has adversely impacted on the naira stability across all markets, and created huge premium between official and parallel market rates, the President of the Association…
By Olaleye Aanuoluwapo It has been said by the Bank Of America that The official rate has depreciated by less than 10 per cent since December 2021 even as the parallel rate is down by nearly a third within the…
By Idris Bakare Bank Directors Association of Nigeria (BDAN) has called for the review of necessary regulations to prevent the deposit money banks from paying insurance on deposits sterilised with the Central Bank of Nigeria (CBN). The Directors said banks…
The President of the Association of Bureau De Change Operators of Nigeria (ABCON), Aminu GwGwadabe has blamed the Central Bank of Nigeria (CBN) for the huge gap in the Naira/dollar exchange rate at the official and black markets. He said…
First Bank of Nigeria Limited has announced a variety of retail products to enhance the operations and sustenance of various businesses in the country. This is contained in a press release, signed by the company’s Group Head, marketing and Corporate…
The Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has invited foreign investors to consider Nigeria and other countries in Africa as their choice investment destination, noting that business confidence in the continent is on the rise. Emefieele…
By Idris Bakare Fidelity Bank plc has announced the redemption of the $400million Eurobond Notes due October 17, 2022. Recently, the bank successfully issued a US$400 million 5-year Eurobond. The transaction also included a Tender Offer for the refinancing of the…
The market capitalisation of the Nigerian Exchange Ltd (NGX) dropped by N655 billion, following the hike in the nation’s inflation rate to 20.77 per cent. Reports that the National Bureau of Statistics (NBS) on Monday announced the inflation rate for…
The Chartered Institute of Bankers of Nigeria (CIBN) says it is resolute and committed to the observance and maintenance of ethics and professionalism among practitioners in the banking industry. A statement by CIBN in Abuja during the weekend, said the…
UBA Foundation, the corporate social responsibility arm of the United Bank for Africa (UBA) Plc, has announced that the three top winners of this year’s National Essay Competition (NEC) will get educational grants worth N10.5m to study in any African…
