The Central Bank of Nigeria (CBN) has announced the introduction of an electronic foreign exchange matching system (EFEMS).In a circular on Thursday, Omolara Duke, CBN director, financial markets department, said the system, which is for FX transactions, would be implemented…
Zenith Bank’s Hybrid Rights Issue and Public Offer holds immense value for investors
Zenith Bank Plc, in a significant move to meet the Central Bank of Nigeria’s (CBN) new minimum capital requirement of N500 billion, is offering its ongoing hybrid rights and public offers at the bank’s lowest price range, locking in about…
CBN approves Providus Bank, Unity Bank merger
The Central Bank of Nigeria (CBN) has given its stamp of approval for the merger of Providus Bank Limited and Unity Bank Plc. This historic union marks the first merger to be approved following the CBN’s recent mandate to increase…
Court declines Emefiele’s travel request
An FCT High Court has refused an application by the former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to be granted permission to travel to the United Kingdom for a medical checkup. Justice Hamza Muazu on Tuesday…
OPay, Moniepoint, others to resume onboarding new customers – CBN
The Central Bank of Nigeria (CBN) says mobile money operators including fintech firms like OPay, Palmpay, Kuda Bank and Moniepoint, will resume the enrolment of new customers “in another couple of months”. CBN Governor, Olayemi Cardoso, stated this on Tuesday…
*Generator fumes kill 7 varsity students in Bayelsa (Nation)*CBN raises interest rate to 26.25% (Sun)
Generator fumes kill 7 varsity students in Bayelsa (Nation) No fewer than seven individuals, reportedly university undergraduates, have lost their lives after inhaling fumes from a generator inside a music studio on Transformer Road, Ebis, in the Amarata area of…
SERAP gives Tinubu 48 hours to withdraw CBN Directive on cybersecurity levy
The Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to use his “good offices to immediately direct the Central Bank of Nigeria (CBN) to withdraw the cybersecurity levy on Nigerians as it patently violates the provisions of…
Tinubu clearing mess caused by Emefiele – Akpabio
The Senate President, Godswill Akpabio, has urged Nigerians to be patient with President Bola Tinubu, as he labours to fix the economy. Akpabio, who described the economy as “foamy”, said it was left wobbling by the embattled former Central Bank…
EFCC to arraign Emefiele on fresh charge, says he printed N684.5m notes with N18.9bn
The Economic and Financial Crimes Commission (EFCC) is set to arraign former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, for approving the printing of N684.5m notes at the rate of N18.96bn. In the fresh 4 count charge…
Don’t abuse the naira — Gbubemi Atimomo
Thoughts on the Central Bank of Nigeria’s abuse of the naira policy It’s the weekend and you are at an owambe. Your best friend’s cousin’s great uncle’s grandfather’s funeral. He passed on at the very ripe old age of 95 so…