Online News Magazine
Online News Magazine
The Central Bank of Nigeria (CBN), and the Bill and Melinda Gates Foundation (BMGF) have finalised arrangements for collaboration on financial inclusion. According to a statement from the apex bank, the two groups recently held strategic discussions on how to deepen collaboration on financial inclusion in Nigeria. During the discussions, CBN’s Acting Governor, Mr Folashodun […]
President Bola Ahmed Tinubu has opened up on why he suspended the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele. Recall that Emefiele was suspended and subsequently detained by the DSS on Saturday, June 10, 2023. His suspension was widely commended as many believed his policies as the head of Nigeria’s apex bank […]
First Bank of Nigeria Limited, Nigerias premier banking institution and leading financial inclusion services provider, has won the Financial Institution of the Year Award at the African Export-Import Bank (Afreximbank) Pan African Business and Development Awards. A statement from the bank said the award was bestowed on FirstBank in recognition of the Banks role in […]
Federation Account Allocation Committee (FAAC) has shared a total sum of N786.161 billion May 2023 Federation Account Revenue to the Federal Government, States and Local Government Councils. This according to a communiqué issued at the end of the FAAC meeting for June 2023, chaired by the Accountant General of the Federation, Dr. Oluwatoyin Madein. The […]
Owners of domiciliary accounts are now free to deposit or withdraw any amount from their accounts without any hindrance. This came on Sunday as the Central Bank of Nigeria (CBN) removed the limits earlier placed on the withdrawal and deposit into domiciliary accounts. The apex bank said this in a statement issued after a meeting […]
No fewer than 18 Ghana-must-go bags containing money and documents have been reportedly carted away by operatives of the Department of State Services, DSS, from the residence of the suspended governor of the Central Bank of Nigeria (CBN), Godwin Emefiele. According to the information gathered from the Nigerian Tribune, the money and the documents were […]
President Bola Tinubu has inaugurated the National Economic Council (NEC), with a promise to sustain the rejuvenation of the nation’s economy. The council was inaugurated today, Thursday, June 15, 2023, at the Presidential Villa in Abuja. Addressing all the Governors who are.members of the council, President Tinubu charged the council to join forces to support […]
The naira is currently trading at N750-N755 per dollar at the investors and exporters (I&E) window on Wednesday. Sources familiar with the matter told newsmen that the Central Bank of Nigeria (CBN) has directed commercial banks to sell forex freely at market-determined rates. Analysts believe that the development will bring the needed transparency in the […]
President Bola Ahmed Tinubu has suspended the Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele, CFR, from office with immediate effect. This is sequel to the ongoing investigation of his office and the planned reforms in the financial sector of the economy. Mr Emefiele has been directed to immediately hand over the affairs of […]
Following the recent review of its Differential Premium Assessment System (DPAS) Framework, the Nigeria Deposit Insurance Corporation (NDIC) has sought input from critical stakeholders towards making the document more robust and all embracing. In a release by the Director, Communication and Public Affairs Department, Bashir Alhassan Nuhu, the NDIC said the Differential Premium Assessment System […]
