Finance

FirstBank promotes over 3000 staff

FirstBank of Nigeria Limited has promoted over 3000 of its workforce in its recent promotion exercise targeted at rewarding staff for strong performance in driving the Bank’s business.

Customer alerts bank to reverse over N7.3 million mistaken transfer

A Nigerian engineer on Tuesday drew the attention of his bank following a mistaken transfer of over 7.3 million naira (equivalent to about $20,100) into his account.

Namibia cuts lending rate to 6.75%

Namibia’s central bank on Wednesday cut its benchmark lending rate by 25 basis points to 6.75 per cent.

Naira crashes to N370 on lack of dollar supply

The naira depreciated against the United States dollar at the parallel market on Tuesday to 370, down from 368/dollar on Monday.

Central bank injects $364m into inter-bank forex market

The Central Bank of Nigeria (CBN) on Tuesday, August 15, 2017, intervened in the Inter-Bank Foreign Exchange Market to the tune of $364million in a bid to sustain liquidity in the market.

South Africa’s rand slips as court sets to rule on central bank’s mandate

South Africa’s rand was slightly weaker on Tuesday ahead of a court ruling on the Central Bank’s inflation targeting mandate and an economic update by ratings agency, Moody’s.

Nigeria to auction N135bn bonds August 23 – DMO

The Federal Government has offered for subscription by auction, N135 billion bonds in its August 23 auction, according to the Debt Management Office (DMO).

Zenith Bank provides for 30% of 9mobile’s loan

Zenith Bank says it has made a provision on 30 percent of its loan to 9mobile, telecommunications company formerly known as Etisalat.

FIRS, JTB share data of high-income earners

The Joint Tax Board and the Federal Inland Revenue Service have started sharing data of high net worth individuals to profile income earners and taxpayers in order to get them pay appropriate taxes.

Naira falls against dollar at parallel market

The naira on Monday depreciated further against the dollar at the parallel market, exchanging at N367 to the dollar.

Customer panic as Ghana central bank takes over two distressed banks

There is a state of panic among customers of two commercial banks in Ghana after the Bank of Ghana (BoG) announced a takeover of the banks.

We’re monitoring use of naira-denominated cards – CBN

The Central Bank of Nigeria says it is closely monitoring the use of naira-denominated cards for international transactions by bank customers.

184,979 retirees benefit from pensions scheme – PenCom

The National Pension Commission on Saturday said no fewer than 184,979 retirees benefited from Contributory Pensions Scheme.

PenCom queries bill on paramilitary pension scheme

The National Pension Commission (PenCom) has kicked against the bill seeking to exclude paramilitary organisations including the police from the Contributory Pension Scheme (CPS).

13 millionaires emerge as Diamond Bank raffle draws

Diamond Bank Plc has created additional 13 millionaires in its daily extraordinary draws across the six geopolitical zones of Nigeria’s economy.

Fraud places Union Bank in serious financial jeopardy

However, according to insiders, the bank is exposed to litigation issues that could see it in serious financial trouble in the future as events unfold in the courtroom.

Afreximbank opens shareholding to investing public

Supranational trade finance bank, African Export-Import Bank (Afreximbank), says it is opening its shareholding to the investing public with a 300 million dollars equity offering through the issuance of depositary receipts.

Foreign reserves reach $31.22bn, first time in 2 years

Nigeria’s foreign exchange reserves rose to $31.22 billion, data from the Central Bank of Nigeria, CBN, have shown.

Recent Stories

National Sports Festival in Abuja

National Sports Festival: Biased officiating worry athletes, spectators

Some athletes and spectators at the ongoing 19th National Sports Festival (NSF) in Abuja say they are getting worried at the quality and performance of those officiating at the competition.

Abducted Nasarawa APC candidate regains freedom

The Police Command in Nasarawa state has confirmed the release of Mr David Ayele, the All Progressives Congress (APC) candidate for Obi II state constituency in the 2019 election, abducted on Sunday in Lafia.

2019: CAN denies endorsing Muhammadu Buhari for second term

The President, Christian Association of Nigeria (CAN), Rev. Samson Ayokunle, has dismissed as fake news the report in some online media that the umbrella christian body has endorsed President Muhammadu Buhari for second term in office.

EFCC: Doyin Okupe released ‘on administrative bail’

The Economic and Financial Crimes Commission (EFCC) has said that Doyin Okupe, a former Senior Special Assistant to former President Goodluck Jonathan, was released “on administrative bail.”

Sikiru Olatunbosun seeks fresh start with Plateau United

Plateau United new signing, Sikiru Olatunbosun, is hopeful of making his stay with the former Nigeria Professional Football League champions a memorable one.