Banking & Finance

Ebuka Daniel The Central Bank of Nigeria (CBN) has reiterated its determination to address the existing challenges in the country’s wheat value chain as part of efforts to shore up the country’s foreign reserves.  The Director, Development Finance Department at the CBN, Mr. Philip Yila Yusuf, disclosed this in Abuja, …

The International Monetary Fund has said that the global boom of cryptocurrencies poses new problems for financial stability. The IMF said this in a blogpost, adding that the crypto ecosystem allows for quick and easy payments, innovative financial services, and inclusive access to the unbanked. The IMF said that the …

Ebuka Daniel Ecobank Nigeria Ltd has appointed its first female board Chair, Bola Adesola, the bank confirmed in a statement She has set the bank’s record as the first female Board Chair since its 32 years of incorporation in 1989. Adesola has joined female big shots  like Yemisi Edun, MD …

Ebuka Daniel NIRSAL Microfinance Bank (NMFB) has cried out that fraudsters are scamming unsuspecting Nigerians of their money with promise to get them employment in the bank. Spokesperson for NMFB Hajia Halimatu Lawal in a statement issued in Abuja said the bank has been inundated with calls and visits from …

A former Deputy Governor of the Central Bank of Nigeria, Kingsley Moghalu, says the value of the naira will fall from N570/$1 to N400/$1 at the parallel market if there is a massive rush of dollars into the Nigerian market through export earnings. Moghalu made this known on Thursday. He …

In the first six months of this year, five top banks in Nigeria recorded a total of 618,797 unresolved customer complaints. These banks are Access bank, Zenith bank, Guarantee Trust bank, Fidelity bank and United bank of Africa. This figure is 305,039 or 103 per cent higher than the 305,039 …

Ebuka Daniel The Central Bank of Nigeria has said that there is no doubt about the financial strength of Nigerian Deposit Money Banks in the country. Nigeria has 20 banks based on the update of the regulator as of June 2021. The CBN stated this position in the Communique issued …

Oluwasina Phillip The Central Bank of Nigeria has explained the economic implications and importance of a centralized and regulated digital currency in Nigeria. The apex bank had earlier revealed that it would be launching e-naira, a digital equivalent of the naira in October, in line with global trends. According to …

Oluwasina Phillip The Spokesman of the Central Bank of Nigeria (CBN), Mr. Osita Nwanisobi has faulted claims from certain quarters for the resignation of the CBN Governor over issues relating to the exchange rate of the naira. In a statement on Monday night, Nwanisobi alleged that those behind such calls …

Oluwasina Phillip The President of the African Development Bank, Dr Akinwumi Adesina, says Africa needs $425bn in additional gross financing by 2030. He said this in a statement announcing that the Africa Investment Forum was set to host its 2021 Market Days in Abidjan, Côte d’Ivoire. Adesina said, “We look …