In response to the Central Bank of Nigeria’s (CBN) proposal for a 70% tax on the excessive profits banks made from naira devaluation in 2023—profits which increased by at least 51% due to President Bola Tinubu’s economic reforms—there has been…
CBN, SEC approve FCMB Group’s rights offer
The Central Bank of Nigeria and the Securities and Exchange Commission have approved the N147 billion rights offer of FCMB Group. This was disclosed in a statement issued on Monday which was signed by the Company Secretary, Olufunmilayo Adedibu. This…
Christmas, cash scarcity and attacks against CBN’s proactive stance – Toni Kan
Let us look at a few figures. Nigeria’s population is put at a little over 200 million people while the UK population is about 68 million. This means that the Nigerian population is about three (3) times that of the…
Garden of Eden in Anambra State — Uzor Maxim Uzoatu
His sight was set far ahead, beyond the realm of the room. Silence was the compelling essence as he looked on, his eyes fixated on the dream. Then he ended the quietude with the arresting words: “I can see it…
Rivers: Courts taking Nigeria back to dark days of June 12 – Atiku
As reactions continue to trill the judgement of a Federal High Court in Abuja on the Rivers State fund, former Vice President Atiku Abubakar has cautioned the judiciary against acts capable of setting the state on fire. Atiku, while expressing…
Why is Yemi Cardoso so focused on the MPR? – Toni Kan
Yemi Cardoso, Governor of the Central Bank of Nigeria was guest of the Harvard Club of Nigeria in Lagos on Friday October 4th, 2024. In speaking to the topic – “Leadership in Challenging Times: Restoring Credibility, Building Trust, and Containing…
Zenith Bank set to raise N290b capital via Rights Issue and Public Offer
Zenith Bank Plc has unveiled plans to raise N290 billion through a combined Rights Issue and Public Offer. The announcement came during a signing ceremony held on July 29, 2024, at The Civic Centre in Lagos, according to a statement.…
Court orders Emefiele to forfeit $1.4m bribery proceeds
The Federal High Court in Lagos, on Tuesday, ordered the final forfeiture of the sum of $1,426,175.14 linked to the immediate-past Governor of the Central Bank of Nigeria, Godwin Emefiele. Justice Ayokunle Faji ordered the final forfeiture of the funds…
FirstBank appoints Olusegun Alebiosu as new MD/CEO
Olusegun Alebiosu, the executive director of FirstBank Group, has been appointed as its acting managing director with immediate effect. The bank made this announcement on Sunday through a statement by its Acting Company Secretary, Adewale Arogundade. The former Managing Director,…
Steady dollar supply pushes naira to 1,262/$
The naira, on Wednesday continued its gain against the United States dollars, appreciating both at the official foreign exchange and parallel markets, to the delight of many Nigerians. At the Nigerian Autonomous Foreign Exchange Market, the naira gained N16 or…