By Sodiq Adelakun The Central Bank of Nigeria (CBN) has withdrawn the operating licenses of 2,698 Bureau de Change (BDC) dealers. This is as the apex bank released a list of dealers it approved. According to the fresh list published…
Guaranty Trust Bank Ltd (GTB) has been named Best Bank in Nigeria at the Euromoney Awards for Excellence 2023. This marks a record 12th time that GTB has been recognised as the leading financial institution in Nigeria. Announcing the award,…
Experts have begun to lament as inflation rate in Africa’s biggest economy rises to a new 17-year high of 22.79 per cent in June 2023 from 22.41 per cent in the previous month. The NBS report read, “In June 2023,…
The Naira on Monday appreciated against the dollar, exchanging at N795.28 at the investors and exporters window. The Naira increased by 1.07 per cent when compared with N803.90 which it exchanged to the dollar on July 14. The open indicative…
By Agunsoye Adenike The World Bank has attributed the frequent building collapse in Lagos State to gaps and loopholes in the permitting process and the use of unqualified professionals in the design and construction of buildings. It also stated that…
The Central Bank of Nigeria (CBN) has increased the tenure of the Managing Directors/Chief Executives of banks to a maximum of 12 years from 10 years. CBN, in a circular on the new, “Corporate Governance Guidelines for Commercial, Merchant, Non-interest…
Stakeholders have said that except Nigeria produces more for exportation and the attitude toward locally-manufactured goods changes, the current challenge with foreign exchange (FX) will persist. They stated this in interviews with journalists in Ibadan on Monday against the backdrop…
An economist, Prof. Uche Uwaleke, has urged the Central Bank of Nigeria (CBN) to look into the new service charges on Point of Sale (PoS) trasactions by the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN). Uwaleke, Professor…
The Central Bank of Nigeria (CBN) has disclosed that it recovered N471.82billion as cumulative repayment from the bank’s intervention programmes in the first half of 2022. According to the apex bank’s half-year report for 2022, the recovery rate rose by…
By Sodiq Adelakun Standard Chartered Bank has entered an agreement with Access Bank for the sale of shareholding subsidiaries of the Bank in Angola, Sierra Leone, The Gambia, Tanzania and Cameroon. The announcement was contained in a statement on Friday…
