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China's Yuan

Nigeria-China currency swap: Manufacturers groan over Renminbi access

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.

Titan Trust Bank sets for retail banking in Nigeria

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.
Korea Electric Power Corporation (KEPCO)

N15 billion debt: Court orders winding up petition against Kepco company advertised

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.
Tunde Ayeni

EFCC: Tunde Ayeni took N17.4bn cash from Skye Bank in one year

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.

CACOL asks Justice Onnoghen vacate office false assets declaration charge

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.

Teleology takes over 9mobile, appoints new board of directors

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: Nigerian banks not ready to fund infrastructure

Babatunde Fashola, minister of power, works, and housing, says Nigerian banks are not willing to fund infrastructure development in the country.

Senate probes excessive charges on customers’ ATM accounts

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.
FILE PHOTO- An MTN starter kit pack on display at a retail stand in Abuja, Nigeria November 17, 2015. REUTERS-Afolabi Sotunde-File Photo

Nigeria’s $8.1bn demand cast doubts over MTN’s Nigeria IPO plans

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.

NCDMB begins disbursement of $200 million intervention fund to local firms

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.

NBS: Nigerian banks hiring more staff

Nigerian banks are hiring more staff, indicating that the sector is booming.
ATM

Banks review ATM cash withdrawal overseas

Guaranty Trust Bank (GTBank) and First City Monument Bank (FCMB), it said, at the weekend raised their monthly card spending limit on overseas PoS and online transactions from $1,000 to $3,000 and around $2,000 to $5,000.

2017: Commercial banks rake in N656 billion from fees, commission income

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.

Ibrahim Magu: Some Nigerian banks almost collapsing

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.

The Kigali AU summit: Nigeria’s diplomatic blunder

President Muhammadu Buhari’s 12th hour decision to snub the African Union Extra-ordinary summit on the endorsement of the African Continental Free Trade Agreement (AfCFTA), in Kigali, March 20 – 22 is a diplomatic blunder.

George Weah: Nigeria, Liberia $5m trade volume too low

President George Weah of Liberia has described as ‘too low’, the current trade volume between both countries estimated to be at $5 million.

George Weah: Liberia seeks 6,000 teachers from Nigeria

Liberian President, George Weah, has called on the Nigerian government to provide 6000 teachers to his country as part of the Technical Assistance agreement between the two nations.

Fitch upgrades Access Bank’s National Rating to ‘A+’

Fitch Ratings, a leading global rating agency in its latest report, has upgraded Access Bank’s National Long-Term Rating to ‘A+ from ‘A. At the same time, Fitch affirmed the bank’s Long-Term Issuer Default Rating (IDR) at ‘B’.

Recent Stories

Cultists kill final year student of CRUTECH

A final year student of the Cross River State University of Technology (CRUTECH) was brutally killed on Monday morning.

Delta APC mocks O’tega Emerhor on failed case against party, Senator Omo-Agege

The Delta State chapter of the All Progressives Congress (APC) Monday mocked a leader of the party in the state, Olorogun O’tega Emerhor, following failed court cases he filed against the party through an executive faction led by Cyril Ogodo.
France is creating a G7 task force to study how central banks ensure cryptocurrencies like Facebook’s Libra are governed by regulations ranging from money-laundering laws to consumer-protection rules, France’s central bank governor said on Friday.

Facebook tells US Congress how it thinks its cryptocurrency Libra should be regulated

Facebook will not launch the cryptocurrency Libra until it has “fully addressed regulatory concerns,” according to David Marcus, the head of Facebook’s Calibra. The remarks are prepared testimony he plans to give tomorrow, in front of the US Senate Banking Committee.
A graduate of Insurance from the Polytechnic, Ibadan, Oyaremi Olabode, was on Monday convicted of criminal impersonation and sentenced to four months in prison.

Ibadan polytechnic graduate jailed for impersonation

A graduate of Insurance from the Polytechnic, Ibadan, Oyaremi Olabode, was on Monday convicted of criminal impersonation and sentenced to four months in prison.
The Speaker of the House of Representatives, Femi Gbajabiamila, has approved the appointment of Olarewaju Lasisi as his senior special adviser on media and public affairs. 3

Insecurity: We’ll give special budgetary attention to Zamfara – Speaker Gbajabiamila

Speaker of the House of Representatives, Hon. Femi Gbajabiamila, has said that the 9th National Assembly would give special budgetary attention to the three Senatorial Districts of Zamfara State in order to resolve the issue of insecurity.