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The Central Bank of Nigeria (CBN) has directed Deposit Money Banks (DMBs) to dishonour instructions on the payment of salaries, pensions, and taxes of public and private companies that are not transmitted on approved electronic payment and collection platforms.
Otunba ‘Debola Osibogun, CAFEi President, said in Lagos on Sunday that extension of the deadline would give room for more people to key into the initiative.
The Central Bank of Nigeria (CBN) has warned Nigerians to beware of fraudulent messages in the social media circles requesting unsuspecting loan seekers and owners of small-scale businesses to apply for loans provided by the Federal Government through an e-mail address ([email protected]) purportedly being handled by the Central Bank of Nigeria (CBN).
The banking industry recorded 106 per cent increase in profitability to N310 billion in 2018 from N150 billion in 2017.
In a bid to further stimulate lending to the economy, the Central Bank of Nigeria, CBN, yesterday, said bank deposit placement through its Standing Deposit Facility, SDF, in excess of N2 billion will not attract interest payment.
A large proportion of the N7.9 trillion pieces of naira notes in circulation are dirty, mutilated, unfit for Automated Teller Machines (ATMs) and over-the-counter payments, the Central Bank of Nigeria (CBN) has said.
The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday disclosed that total aggregate loans granted by Microfinance Banks (MFBs) to micro small and medium enterprises (MSMEs) in the country stood at N482.896 billion as at December 2018.
The Central Bank of Nigeria (CBN), says it will issue loans at five per cent and with no collateral to Small and Medium Enterprises (SMEs) through the NIRSAL Micro Finance Bank (MFB).
The Council of the Islamic Financial Services Board (IFSB) with its headquarters in Kuala Lumpur, Malaysia, has admitted the Nigeria Deposit Insurance Corporation (NDIC) as a full member of the board.
The Central Bank of Nigeria (CBN) on Thursday said the proposed increase in minimum wage for Nigerian workers would stimulate output growth in the economy.
For their inability to service their huge debts, Deposit Money Banks (DMBs) have taken over the assets of some defaulting oil marketers.
The Nigeria Deposit Insurance Corporation (NDIC), said it paid N1.45 billion to 16, 324 depositors of 34 closed Deposit Money Banks (DMBs) in 2017.
The Supervising Minister of Finance, Zainab Ahmed, on Friday expressed serious concerns over the rising incidence of non-performing loans (NPLs) in deposit money banks (DMBs) in the country.
The Managing Director/Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim, Tuesday said a total of N11.50 billion had been paid to depositors, creditors, shareholders and other stakeholders of closed financial institutions as at December 31, 2017.
The Central Bank of Nigeria on Wednesday said it has commenced a review of the information provided by telecoms giant, MTN, and four banks sanctioned recently over alleged illegal repatriation of funds.
The Central Bank of Nigeria (CBN) on Thursday unveiled terms for long-term credits to key sectors of the economy to boost real sector growth.
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The Speaker of the House of Representatives, Femi Gbajabiamila (APC-Lagos), on Friday in Abuja, donated drugs worth over N60 million to the Borno State Government for onward distribution to the victims of insurgency in the state.
The Governorship Election Petition Tribunal in Kwara State, on Friday, dismissed the Peoples Democratic Party’s (PDP) petition seeking the nullification of Governor AbdulRahman AbdulRazak’s election.
Trading closed positively on the Nigerian Stock Exchange (NSE) on Friday with the market capitalisation improving by N25 billion.
The Nigeria Weightlifting Federation (NWF) says lack of funds has stalled its participation in the ongoing International Weightlifting Federation (IWF) World Championships in Pattaya, Thailand.
Ernesto Valverde believes Barcelona need to be more forceful if they are to rectify their poor away form, although the return of Lionel Messi will be a major boost according to the manager.
A Mapo Customary Court in Ibadan, on Monday dissolved a 10-year marriage between Kamardeen Babatunde and his wife, Iyabo, over threat to life and stealing.
Lagos State First Lady, Dr. Ibijoke Sanwo-Olu on Tuesday flagged off free surgical intervention programme for residents of the State as part of activities to commemorate the 100 days in office of Governor Babajide Sanwo-Olu’s administration.
A former Director, Legal Services of the Ministry of Petroleum Resources, Mrs. Grace Taiga, standing trial in connection with the controversial P&ID $9.6bn judgment against Nigeria suffers from “a whole lot of ailments”, her lawyer, Ola Olanipekun (SAN), said on Friday.g
The Republic of South Korea Ambassador to Nigeria, Mr Lee In-Tae, says Nigeria possesses a capacity for technology and agriculture development among other industrial sectors which could create jobs for its citizens.g
Nigeria’s D’Tigers have moved 10 places up in the recently-released FIBA Men World Rankings presented by Nike on Thursday.