By Kayode Tokede The Central Bank of Nigeria (CBN) has reported $865.4million total direct remittance in first quarter of 2021. This is 75.34 per cent decline over $3.51billion reported in first quarter of 2020. According to CBN, total direct remittance…
By Kayode Tokede The Central Bank of Nigeria (CBN) has disclosed that the country’s foreign reserves position sustained its decline, as outflows from the reserves outstripped inflows, dropping by $173.24 million in its week-on-week (w/w) performance to $34.74 billion on…
By Kayode Tokede Fitch, an international credit rating agency, has affirmed FBN Holdings Plc (FBNH) and its primary operating subsidiary, First Bank of Nigeria Ltd (FBN), at “B-” with a negative outlook. A ‘B’ rating indicate that “material default risk…
By Kayode Tokede The Central Bank of Nigeria (CBN) has directed banks, International Money Transfer Operations (IMTOs) to indefinitely sustain its Naira 4-dollar scheme for diaspora remittances which was introduced a few months ago. This is to sustain the foreign…
By Kayode Tokede Heritage Bank in partnership with the Road Transport Employers Association of Nigeria (RTEAN) has launched the Travelers’ Accident Insurance Scheme (TAIS) to assist road accident victims across the country. The scheme which was launched recently, aims to…
By Kayode Tokede The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele has urged youths to embrace agriculture, declaring the Bank’s readiness to support youths that are willing to engage in agriculture. This is even as the Governor reiterated…
By Kayode Tokede The Managing Director and Chief Executive of Nigeria Deposit Insurance Corporation (NDIC), Bello Hassan, has stressed the need for effective collaboration between regulators and operators in the banking system for the establishment of sound ethics and professionalism…
By Kayode Tokede Following the completion of all regulatory procedures, Grobank Limited has been officially renamed Access Bank South Africa Limited. The deal was finalized after Access Bank’s acquisition of controlling shares in the former Grobank Limited, South Africa. With…
By Kayode Tokede Naira at the Investors & Exporters Foreign Exchange (I & E FX) window gained 0.12 per cent to close at N410.50 against the Dollar on Wednesday. As the Naira gained by 0.06per cent against the Euro closing…
By Kayode Tokede The management of Guaranty Trust Bank Plc (GTBank)has notified the Nigerian Exchange Limited Plc (NGX) of imminent changes on its board of directors. The company secretary, GTBank, Erhi Obebeeduo in a statement to NGX on Wednesday said,…
