By Sodiq Adelakun The Central Bank of Nigeria (CBN) has said it will sanction banks assisting the operations of unlicensed foreign firms. It stated on yesterday in its ‘Guidelines for the regulation of representative offices of foreign banks in Nigeria’,…
The Central Bank of Nigeria (CBN) is playing a critical role to facilitate successful participation of Nigerians in the African Continental Free Trade Area (AfCFTA) agreement. According to the apex bank, its interventions in the real sector of the Nigerian…
By Sodiq Adelakun International Breweries Plc (IB Plc), a part of the AB InBev Group, the world’s largest brewer with over 400 beer brands, is facing a challenging period as it grapples with declining revenue and mounting losses in its…
Union Bank Plc has disclosed that it has received an offer from its core shareholder ,Titan Trust Bank Limited to acquire the shares of all minority shareholders in Union Bank. Union Bank stated this in a Proposed Scheme of Arrangement…
By Seun Ibiyemi Nigeria’s debt profile has increased $14.34billion as the Federal Government led by President Muhammadu Buhari borrowed $410million in first quarter of 2023 from the World Bank according to report obtained. The data obtained from the Washington-based bank…
Fidelity Bank Plc, Nigeria’s best-performing bank share this year, plans to expand in at least five African countries after finalizing the acquisition of the London unit of rival Union Bank of Nigeria Plc. The 35-year-old institution is negotiating a second…
By Sodiq Adelakun The Debt Management Office revealed that Federal Government will begin repayment of principal to service the loans from the Central Bank of Nigeria through the Ways and Means Advances will begin in four years. This was according…
Sterling Bank’s profit after tax rose by 28.5 per cent to N19.3bn as of the end of December 31, 2022 from N15billion in the corresponding period of 2021 financial year. The bank disclosed this in a statement on its earnings…
By Sodiq Adelakun Standard Chartered Bank Nigeria Limited has announced the appointment of Olukorede Adenowo as Chief Executive Officer. This was contained in statement on Thursday. Adenowo was the Chief Executive Officer of Standard Chartered Bank, The Gambia, with dual…
By Sodiq Adelakun The House of Representatives has approved the request by President Muhammadu Buhari to restructure the N22.7 trillion loan from the Central Bank of Nigeria (CBN) extended to the Federal Government under its Ways and Means provision. The…
