The Central Bank of Nigeria (CBN) has announced a new policy that mandates deposit money banks and other financial institutions to ensure that over-the-counter cash withdrawals by individuals and corporate entities do not exceed N100, 000 and N500, 000, respectively,…
Buhari nominates Aisha Ahmed, Edward Adamu as CBN deputy governors
President Muhammadu Buhari has written the Senate, seeking the screening and subsequent confirmation of the former Central Bank of Nigeria, CBN, Director, Human Resources, Edward Adamu, for the position of Deputy Governor of the nation’s apex bank. According to the…
MTN Foundation partners BEETA Playwright Competition to empower young Nigerians
MTN Foundation in partnership with the Beeta playwright competition recently trained the top ten finalists in a playwriting workshop from November 14 – November 17, 2022, following the call for entry which had 794 submissions, from 30 states across the…
Forex access huge challenge to oil marketers –DAPPMAN
The Depots and Petroleum Products Marketers Association of Nigeria (DAPPMAN), says accessing foreign exchange at official rate has remained the greatest challenge facing fuel marketers in the country. Mrs Winifred Akpani, DAPPMAN Chairman, said this at a news conference in Lagos…
Afrinvest Banking Sector Report: Banks show strength despite economic downturn
The 2022 Afrinvest Banking Sector Report has shown that commercial banks recorded modest improvement in all regulatory indicators despite daunting economic challenges. The report, presented by Deputy Group Managing Director, Afrinvest West Africa, Mr Victor Ndukauba, showed that the banks…
Kano: 14 arrested over new naira notes sale
Officials of the Department of State Services, in conjunction with the Central Bank of Nigeria, and the Nigerian Security and Civil Defense Corps, have arrested 14 persons including a lady over the alleged illegal sale of new naira notes in…
Falling naira: Hold Emefiele accountable, NYCN tells Nigerians
The National Youth Council of Nigeria has blamed the Governor of the Central Bank of Nigeria, Godwin Emefiele’s poor economic management policies for the recent free-fall of the Naira. The Naira within the week depreciated to an all-time low of…
GAIM 5: Fidelity Bank rewards customers with N10m
Fidelity Bank Plc has rewarded 10 customers with N1 million each in the eight monthly draw of its Get Alerts in Millions Season 5 promo. Dr. Ken Opara, Promo Chairman and Executive Director, Lagos and South West, said it was…
Stakeholders raise concerns over high food import pricing
The spike in the market prices of major commodities globally has been a concern for many nations around the world. Nigeria, like others, also faces severe threats to its already wobbly food security position. Stakeholders believe that Nigeria, a country…
CBN further increases monetary rate to 14%
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has for the second time in three months increased official interest rate by 250 basis point. The committee increased the Monetary Interest Rate (MPR) by 150 basis point…
