By Kayode Tokede Nigeria’s foreign reserves fell by $2.27billion in seven months, from January 4 to July 29, as the figures continued to witness historic depletion. According to data sourced from the Central Bank of Nigeria (CBN), the gross reserves…
By Kayode Tokede Ecobank Nigeria has assured customers that the bank has put in place every arrangement for the implementation of the foreign exchange (fx) policy issued by Central Bank of Nigeria (CBN). The bank in an email to its…
By Kayode Tokede Unity Bank Plc has declared half-year (H1) result and accounts for period ended June 30, 2021 with profit before tax gaining 34 per cent to N1.50 billion from N1.12 billion recorded in half-year ended June 30, 2020.…
The Central Bank of Nigeria (CBN) on Thursday says it will start immediate refund of capital deposit to Bureaux de Change (BDC) promoters with pending applications. According to a circular signed by Ibrahim Tukur for the Director, Financial Policy and…
The Association of Bureaux De Change Operators of Nigeria (ABCON) has assured members of the public that Bureaux De Change (BDCs) still provide foreign exchange services. ABCON President, Aminu Gwadabe, said in a statement on Thursday in Lagos, that the…
By Aanu Olaleye, Abuja The Central Bank of Nigeria (CBN) has directed Deposit Money Banks (DMBs) to set up teller points in designated branches for the sale of Foreign Exchange (FX) to Nigerians. The directive was sequel to CBN’s decision…
By Aanu Olaleye, Abuja The Bankers Committee has assured Nigerians that the exchange rate will drop to around N423 to a dollar. The Committee headed by Herbert Wigwe, Access Bank’s Chief Executive Officer addressed the media on Thursday following a…
By Olaleye Aanuoluwapo, Abuja Naira on Wednesday traded at N522 against the Dollar at parallel market, a day the Central Bank of Nigeria (CBN) suspend sale of foreign exchange to Burea De Change (BDC) operators. Nigerian NewsDirect gathered that Dollar…
FirstBank of Nigeria Ltd. said it would enhance its Corporate Responsibility and Sustainability (CR&S) initiatives in education to ensure growth and development of the country. The Chief Executive Officer of the bank, Dr Adesola Adeduntan, said this on Wednesday at…
The Managing Director, Ecobank Nigeria, Patrick Akinwuntan has reiterated that the Pan African bank remains the payment gateway for Africa. Akinwuntan who was speaking on the topic “Optimizing sustainable trade, investment and regional economic integration through effective partnerships between ECOWAS…
