March 17
Nigeria: CBN Reiterates Directive to Banks On Utilisation of Forex Gains
Banks shall not utilize such FX revaluation gains to pay dividends or meet operating expenses. Read more »
March 08
Africa: How Nigeria, Africa Can Tackle Poverty - Adesina
Africa's present and former presidents were among hundreds of guests who attended the award ceremony where Mr Adesina delivered the Awolowo Foundation's annual lecture. Read more »
March 05
Ghana: Bank of Ghana Suspends GTB, Firstbank's Forex Licences
The Bank of Ghana on Monday announced the suspension of the Foreign Exchange Trading Licences of Guaranty Trust Bank Ghana Limited (GTB) and FBNBank Ghana Limited (FBN). Read more »
Nigeria: Centra Bank's Missing $4.5 Billion and Need to Reset the Anti-Graft War
The lack of Nigeria's seriousness in the fight against corruption is epitomised by the EFCC's revival this January, of the N772 billion fraud cases of 13 former governors, who left… Read more »
March 01
Nigeria: Central Bank Revokes Operating Licenses of Thousands of Forex Bureaus
The Central Bank of Nigeria (CBN) has revoked the operational licences of 4,173 Bureaux De Change operators in the country. Read more »
February 29
Nigeria: South-East Nominee for Membership of CBN Board Rejects Tinubu's Appointment
Urum Eke, a consultant to the World Bank and other international financial institutions, rejected his nomination to avoid conflict of interest. Read more »
February 28
Nigeria: Mixed Reactions Trail Central Bank's Monetary Policy Decisions
The Monetary Policy Committee of the Central Bank of Nigeria Tuesday announced a significant increase in its benchmark lending rate by 400 basis points to 22.75 per cent Read more »
February 27
Nigeria: Senate to Probe N30trn 'Ways and Means' Obtained By Buhari Administration From CBN
During the plenary last Tuesday, members of the upper chamber resolved to probe the facility the Buhari administration obtained from the CBN under the leadership of Godwin… Read more »
February 18
Africa: AfDB Report Puts Africa's GDP At 3.8 Percent in 2024
"Despite the challenging global and regional economic environment, 15 African countries have posted output expansions of more than five per cent." Read more »
February 15
Nigeria: Fx - CBN Imposes 50 Percent Cap On IOCs Repatriation
"Banks are allowed to pool cash on behalf of IOCs, subject to a maximum of 50 per cent of the repatriated export proceeds in the first instance...," the bank said. Read more »
February 12
Nigeria: Stock Watch - Mutual Benefits, UBA, Ecobank Top Stocks Pick This Week
This is not a buy, sell or hold recommendation but a stock investment guide. Read more »
February 11
Nigeria: Obituary - Herbert Wigwe, the Visionary Who Co-Built Nigeria's Biggest Lender
At GTB, he allied with long-time friend and business partner Aigboje Aig-Imoukhuede, also an executive director at the bank at that time, both of whom together made a bid to buy… Read more »
February 05
Nigeria: We Inherited $7 Billion Unpaid FX - Cardoso
Mr Cardoso said the infractions observed included some entities not having valid import documents, and that in some cases, even entities that did not exist were captured. Read more »
Nigeria: CBN Uncovers $2.4 Billion False Forex Claim Pressuring Naira - Cardoso
The CBN hired Deloitte to investigate the forex claims in order to get a true picture things, Cardoso said. Read more »
January 31
Nigeria: Senate Panel Summons CBN Governor Over State of Economy
The committee asked the CBN Governor to appear before it on Tuesday next week. Read more »
January 25
Nigeria: Ndume Faults Plan to Relocate CBN Departments, Faan Headquarters to Lagos
"This is one of the mistakes and I'm sure Mr President will reverse it because it doesn't work. You can't have two capitals," Mr Ndume said. Read more »
January 24
Nigeria: Presidency Explains Movement of FAAN, CBN Dept to Lagos, Refutes Plan to Move Nigeria's Capital
The status of Abuja as the Federal Capital has come to stay. It is backed by law. Read more »
January 11
Nigeria: Profile - Omokayode Lawal, Polaris Bank's New MD/CEO
Mr Lawal served as the Managing Director/Chief Executive Officer of Fractional Investment Services Limited, a real estate company in Nigeria. Read more »
Nigeria: CBN Appoints New Management Teams for Keystone, Polaris and Union Banks
The CBN had earlier on Wednesday dissolved the board and management of Union Bank, Keystone Bank and Polaris Bank due to their non-compliance with BOFIA 2020. Read more »
January 09
Nigeria: CBN - Embracing the Evolution of Nigeria's Digital Currency Landscape
The apex bank began to gradually embrace change when in 2021 it introduced the eNaira and launched it with pomp and pageantry. Read more »
December 28, 2023
Nigeria: Union Bank Controversy - CBN Investigator Rejects Request of Titan Trust Bank Investors
Tunde Lemo and the two major investors in Titan Trust Bank and Union Bank had requested to delay their appearance before the Special Investigator. Read more »
December 27, 2023
Nigeria: Your Money Is Safe in Banks, CBN Assures Depositors
The CBN advised bank customers to proceed with their banking transactions as usual, as there was no cause for concern. Read more »
December 26, 2023
Nigeria: CBN Investigator Summons Tunde Lemo, Two Others Over Controversial Acquisition of Union Bank
Tunde Lemo and two other shareholders of the bank have been directed to appear before investigators on Thursday in Abuja Read more »
December 22, 2023
Nigeria: Ex-Central Bank Head Accused of Stashing Billions in Foreign Banks
The CBN Special Investigator recommends the prosecution of Mr Emefiele and at least 13 others, including his deputy governors, for alleged gross financial offences. Read more »
December 11, 2023
Nigeria: CBN Says Nigerian Banks Resilient - Suspends Deposit Charges
CAR assesses the available capital a bank possesses in relation to its risk-weighted assets. Read more »