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Central bank clarifies position on operation of domiciliary accounts

The Central Bank of Nigeria (CBN) says it has not prohibited the acceptance of foreign currency cash deposits by Deposit Money Banks (DMBs).

HSBC to cut 35,000 jobs in next three years

Banking giant Hongkong and Shanghai Banking corporation (HSBC), says it plans to cut some 35,000 jobs worldwide in the next three years as it restructures and increases its focus on Asia.

Senate holds valedictory session to honour Senator Uwajumogu

The Senate on Wednesday held a valedictory session to honour late Senator Benjamin Uwajumogu, who until his death represented Imo North Senatorial District in the National Assembly on the platform of the All Progressive Congress.
The Nigeria Police Force says its investigation shows that Boko Haram, Ansaru and other terror groups are getting support from some Nigerians.

Police arrest 45-year-old man for attempting to murder his wife in Lagos

The Lagos State Police Command is currently investigating a 45-year-old man Christopher Lament for attempting to murder his wife Comfort Christopher.
Senate President Ahmed Lawan

Boko Haram: Senate condemns Plateau killings, abductions

The Senate on Wednesday condemned the abduction and killings of Nigerian citizens from Plateau State by Boko Haram.
Issad Rebrab

Algeria’s richest man walks free on time served

Algeria’s richest man Issad Rebrab walked free on time served early Wednesday after a court sentenced him to six months for tax, banking and customs offences.
Senate President Ahmed Lawan 2

2020 Budget: Senate approves N140.3 billion for NCC

The Senate on Wednesday approved the sun of N140,383,591,000 for the Nigerian Communications Commission (NCC) for the 2020 fiscal year.
Senate President Ahmed Lawan 2

Senate mandates committee to investigate issues on foreign vessels

The Senate on Wednesday at the plenary mandated its Committee on Local Content to investigate reasons for the dominance of foreign vessels above locally owned and registered vessels in the domestic carriage of petroleum products within coastal inland waterways of Nigeria.
Senate President Ahmed Lawan 1

Senate to confirm Edward Adamu as AMCON chairman next week

Senate on Wednesday began the Confirmation process of Edward Lametek Adamu as the Chairman of the Asset Management Corporation of Nigeria, AMCON.

NAICOM okays new directors for standard alliance insurance

The National Insurance Commission (NAICOM) has approved the appointment of Haruna Mohammed and Uzoma Igbonwa as the nonexecutive directors for Standard Alliance Insurance Plc.
National Bureau of Statistics NBS

NBS: Banks recorded N42.7 trillion electronic transactions in three months

The banking sector recorded 800,201,498 volume of transactions valued at N42.76tn within the third quarter of this year.
Chairman, Securities and Exchange Commission (SEC) Olufemi Lijadu has called for concerted efforts to strengthen the capital market to attract foreign investors.

SEC seeks partnership on capital market growth

Chairman, Securities and Exchange Commission (SEC) Olufemi Lijadu has called for concerted efforts to strengthen the capital market to attract foreign investors.
President of the Senate, Ahmad Ibrahim Lawan (left) with the Senate Minority Whip, Senator Philip Tanimu Aduda, during the plenary on Tuesday, November 19, 2019. 5

Senate: AMCON a drain on the nation’s economy

The Senate Committee on Banking, Insurance and other Financial Institutions has said that Assets Management Company of Nigeria which was set up by the government to buy back bad debts by banks has become a drain on the nation’s economy, adding something must be done to reverse the trend.

How an American defrauded me of $145,000 – Nigerian businessman

A Nigerian businessman, Olukayode Sodimu, on Friday told an Ikeja Special Offences Court about how an American and alleged serial conman, Marco Ramirez, defrauded him of 145,000 dollars in a green card scam.
Good times are underway for Micro, Small and Medium Enterprises (MSMEs) in the country as Jaiz Bank Plc, the premier non-interest bank has secured an N3 billion financing facility from the Bank of Industry (BOI) to boost and develop their operations.

Jaiz Bank to open more branches as management pledges bumper returns to shareholders

Managing Director of Jaiz Bank Plc, Mr Usman Hassan, has assured the bank would continue to target an organic growth strategy that would enable it have presence in all 36 states of the country following its recent national banking license granted it.

Total planning to sell stake in major oil block in Niger Delta

Total is seeking to sell its 12.5 per cent stake in a major deepwater oilfield off the coast of Nigeria, industry and banking sources have said.
President of the Senate, Ahmad Lawan, presiding over the plenary in the upper chamber on Thursday, 3rd October, 2019.

Senate decries poor enlightenment, weak insurance regulation

The Senate has expressed its displeasure over the poor regulation of insurance companies in the country, concerned about the low enlightenment of Nigerians on insurance policies.
President of the Senate, Ahmad Lawan, presiding over the plenary in the upper chamber on Thursday, 3rd October, 2019.

Senator Lawan: NDIC Act will receive accelerated action

Senate President Ahmad Lawan has assured that the bill to amend the Nigeria Deposit Insurance Corporation (NDIC) Act will receive an accelerated hearing to ensure efficiency in the banking system.

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Beyonce kicks off LA memorial for Kobe Bryant and daughter

Beyonce kicked off a star-studded memorial ceremony in Los Angeles on Monday for basketball great Kobe Bryant and his daughter Gianna who died along with seven others in a helicopter crash last month.
This was disclosed by Vice President, Yemi Osinbajo, who presided over the meeting of PEBEC at the Presidential Villa, Abuja, on Monday.

PEBEC, ICPC collaborate to prosecute corrupt public officials

The Presidential Enabling Business Environment Council (PEBEC) has partnered with the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate and prosecute public officials and civil servants accused of corrupt practices.
President Muhammadu Buhari

Senator urges President Buhari to save APC from disintegration

Senator Abu Ibrahim, the Chairman, Board of Trustees (BoT), Council for New Nigeria initiative (CNNi) says President Muhammadu Buhari will preserve his legacy after leaving office if he saves the ruling All Progressives Congress (APC) from disintegration.
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Four killed in India clash ahead of Donald Trump arrival

A policeman was among at least four people killed in New Delhi on Monday during violent clashes over a contentious citizenship law, local media said, hours before US President Donald Trump arrived in the Indian capital for an official visit.

Teenager steals N340,000 after hiding in bank’s toilet overnight

A 16-year-old boy, Adekunle Ayomikun, who allegedly hid in the toilet of a bank overnight and stole N340,000 was yesterday, remanded at Special Correctional Centre for boys in Oregun, by a Lagos magistrate’s court sitting in Igbosere.