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…
World Bank knocks Emefiele’s CBN policies
The World Bank has said that multiple exchange rates, trade restrictions, and the financing of the public deficit by the Godwin Emefiele-led Central Bank of Nigeria (CBN) continues to damage the business environment. The World Bank made the disclosure in…
BoI grows profit by 75%, declares N7.89b dividend
The Bank of Industry (BoI) says it recorded a 75 per cent increase in Profit Before Tax to N61.15 billion in the 2021 financial period. According to a statement from BoI, Malam Aliyu Dikko, Chairman of its Board of Directors,…
Emefiele he’d make decision on 2023 presidency in a few days
The Governor of the Central Bank, Mr Godwin Emefiele, has said that he would make a decision on the 2023 presidency in a few days. He said this in a series of tweets on Saturday. The CBN governor had come…
Abbey Mortgage Bank capitalised at 6b with CBN’s approval of capital injection
Abbey Mortgage Bank has been further capitalised to N6 billion following the approval issued by the Central Bank of Nigeria (CBN) N3.03 billion equity capital raised during the last right issue exercise of the bank. This milestone, a statement said,…