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The Governor of Central Bank of Nigeria, Mr Godwin Emefiele on Sunday said that the Nigerian banking sector is strong in spite of the fact that some banks failed its stress test.
A new directive by the Central Bank mandates Nigerian banks to give N65 as loans for every N100 they have as deposits.
The ruling All Progressives Congress (APC) on Thursday came hard on the South African government, accusing it of backing the wave of xenophobic attacks on Nigerians and other Africans in the rainbow nation, and asked the President Muhammadu Buhari administration to take steps to immediately nationalize telecommunications giant, MTN.
Almost 70 per cent of Nigeria’s imports come from China and other Asian countries, while a paltry 12 per cent comes from the United States of America. This must have, no doubt, influenced the decision of the Federal Government to negotiate a currency swap deal with China.
One of the five new banks licensed by the Central Bank of Nigeria (CBN), Titan Trust Bank Limited is set for entry into the Nigerian banking industry in a matter of weeks.
A Federal High Court sitting in Abuja, the Federal Capital Territory of Nigeria has ordered that a winding up petition filed by United Bank for Africa Plc UBA against a limited liability company KEPCO ENERGY RESOURCES NIGERIA LIMITED (RC 6900064) over the inability of the company to pay a debt of N15,221,674,976.4 be advertised in the Federal Gazette and in one other national daily.
The Economic and Financial Crimes Commission, EFCC, says a former Chairman of the defunct Skye Bank Plc (now Polaris Bank), Tunde Ayeni, took N17.4bn raw cash from the suspense account of the bank between January 1 and December 31, 2014.
The Centre for Anti-Corruption and Open Leadership, CACOL, has called for careful consideration and caution on various allegations of false and non-declaration of full assets and money laundering against the Chief Justice of the federation, Walter Onnoghen.
After series of twists and legal turns in the takeover process of 9mobile, Teleology Technology Limited on Monday officially took over the operational affairs of the telecoms company.
Babatunde Fashola, minister of power, works, and housing, says Nigerian banks are not willing to fund infrastructure development in the country.
The Senate on Wednesday directed its Committee on Banking Insurance and other Financial Institutions and Finance to conduct an investigation into the propriety of Automated Teller Machine card maintenance charges in comparison with international best practices.
MTN Group’s plan to list its Nigerian unit in an initial public offering this year is under threat after the central bank ordered the South African telecoms giant to hand over $8.1 billion allegedly sent abroad illegally, sources said.
The Nigerian Content Development and Monitoring Board (NCDMB), has commenced the disbursement of its $200 million Nigerian Content Intervention Fund (NCIF) at eight per cent interest rate to local oil and gas firms.
Thirteen commercial banks quoted on the Nigerian Stock Exchange (NSE) raked in N655.669 billion from fees and commission income last year, figures compiled from the full year 2017 audited results have shown.
The acting chairman of the Economic and Financial Crimes Commission, Ibrahim Magu, on Tuesday said some Nigerian banks were already on the verge of collapse due to the activities of unscrupulous individuals.
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A Kaduna Chief Magistrates’ Court on Wednesday ordered that a 19-year-old labourer, Bashiru Ibrahim, who allegedly defiled a six-year-old girl, be remanded in a correctional facility, pending legal advice.
European Parliament President, David Sassoli, has urged EU leaders to allow Britain to delay its end of month deadline to leave the European Union.
More than 100 elephants have died in Botswana in the past two months partly because of a suspected anthrax outbreak, the government has said.
National Agency for Food and Drug Administration and Control has decried the lack of commitment to standard by members of the Association of Master Bakers and Caterers of Nigeria in bread making.
South African Airways (SAA) and Comair began returning grounded planes to service on Wednesday a day after safety regulators flagged maintenance problems.
The absence of a legal representative for a notorious Rivers State serial killer, Gracious West, has stalled the arraignment proceedings at the State High Court in Port Harcourt.
Arsenal's Mesut Ozil has hit back at criticism of his nonchalant demeanour, insisting that he always strives for perfection on the pitch and that his on-field successes outweigh any calls for him make changes to how he presents himself during matches.
Flood has sacked many Olomu communities, destroying farm produce and means of livelihood, with many people displaced from their homes.
Nzube Anaezemba has turned down the chance of playing for another season with Kano Pillars and has instead opted for a move to another Nigeria Professional Football League (NPFL) side, Lobi Stars.
Nigeria has pledged a financial commitment of $12 million to the Global Fund towards tackling the menace of HIV/AIDS globally over the next three years. Nigeria also demonstrated a commitment to increase domestic resources for health and disease programmes.