Online News Magazine
Online News Magazine
The Central Bank of Nigeria (CBN) has raised the minimum capital requirement for Deposit Money Banks (DMBs) with the national licences from N25 billion to N200 billion. The Nigeria’s apex bank also increased the capital requirement for banks with regional licences from N15 billion to N50 billion and banks with international licences from N100 billion […]
VDF Group Plc has stressed the need for increased financing for the entertainment and media industry to boost foreign exchange earnings and economic development. The Managing Director of Splitar Limited, Mr Folagbade Adeyemi, stated this while speaking at the Capital Market Correspondents Association of Nigeria (CAMCAN) quarterly Forum, sponsored by VFD Group Plc. Adeyemi noted […]
The Central Bank of Nigeria (CBN), on Tuesday, raised the interest rate by 200 basis points from 22.75 per cent to 24.75 per cent amid soaring inflation. The apex bank made this known after the two-day Monetary Policy Committee (MPC) meeting held between Monday and Tuesday. According to the National Bureau of Statistics, the country’s […]
The Central Bank of Nigeria (CBN) has issued a circular to Bureau De Change operators (BDCs) on allocation of dollars to them. The circular revealed that each BDC has been allocated $10,000 at a rate of N1,251/$1. The circular, which was released on Monday, mandated the BDCs to sell the allocated dollars to eligible customers […]
The Nigeria Deposit Insurance Corporation (NDIC) remains committed to ensuring that those who contribute to the failure of banks are properly investigated and prosecuted. The Managing Director and Chief Executive of the NDIC, Mr. Bello Hassan made the remark during a courtesy visit of the NDIC Management to the Executive Chairman of the Economic and […]
Nigeria’s currency, naira rose to a two-month high of N1,382.35 per dollar on Thursday at the official foreign exchange market. The gains are in response to foreign exchange reforms by the Central Bank of Nigeria (CBN) that have helped boost investor confidence and dollar supply. The gains were recorded against the former N1,600 to a […]
Representative of the Nigeria Deposit Insurance Corporation (NDIC) MD/CE, Bello Hassan, Executive Director Corporate Services, Mrs. Emily C. Osuji receives the “Financial Institution of the Year 2023 Award” from Silverbird TV Head Business Desk, Mr. David Ubabudike at the 2023 Silverbird Awards held in Lagos.
NDIC Executive Management delegation led by MD/CE, Mr. Bello Hassan (4th left); including Executive Director (Operations), Mr. Mustapha Ibrahim (2nd left) and Executive Director (Corporate Services), Mrs Emily Osuji (3rd left) gives some words of comfort to Elder Shyngle and Mama Stella Wigwe, parents of late Access Bank MD/CEO, Dr. Herbert Wigwe during a condolence.
The Central Bank of Nigeria (CBN) is making a deft move to strengthen the naira against the dollar and other currencies as it begins sale of the United States dollars to Bureau De Change (BDC) operators at N1,301 per dollar. This was contained in a memo signed by Hassan Mahmud, the director of Trade and […]
The Board of Directors of Fidelity Bank has extended the employment contract of Dr. Nneka Onyeali-Ikpe, its Chief Executive, by additional two years from 2024 to 2026. This was contained in the company’s notice to the Nigerian Exchange Limited (NGX) on Monday. Ezinwa Unuigboje, the Company secretary, said in the statement, that the board took […]
