Banks – BDNews

National grid shut down, aviation disrupted, businesses paralyze as ASUU, TCN, banks, others join NLC nationwide strike

June 3, 2024Bode DoluLeave a Comment

Several unions in Nigeria have shut their workplaces to comply with the directive of the two labour unions, Nigeria Labour Union (NLC) and the Trade Union Congress of Nigeria (TUC) to embark on an indefinite nationwide strike. The Transmission Company of Nigeria (TCN) says the Labour union has shut down the national grid, resulting in […]

Naira gains in value as CBN sells over $300m to banks in two weeks

February 27, 2024Bode DoluLeave a Comment

Central Bank of Nigeria (CBN) has sold over $300m to Deposit Money Banks in the last two weeks amid desperate efforts to stabilise the naira-dollar exchange rate. The naira appreciated against the dollar to 1,582/$ at the close of trading activities at the official market on Monday. According to data obtained from FMDQ securities, the […]

CBN dissolves boards of Union, Titan, Keystone, Polaris banks

January 11, 2024Bode DoluLeave a Comment

Central Bank of Nigeria (CBN) has, with immediate effect, sacked the entire Board of Directors of Polaris, Titan, Union and Keystone Banks. CBN sources say the decision was taken in a meeting led by the apex bank’s governor, Yemi Cardoso, on Wednesday in Abuja. The source, who spoke on condition of anonymity, hinted that an […]

How Emefiele used proxies to acquire Union, Keystone, Polaris Banks ―CBN Investigator

December 24, 2023Bode DoluLeave a Comment

Immediate past governor of Nigeria’s Central Bank, Mr. Godwin Emefiele allegedly used proxies to acquire an old generation bank, the Special Investigator on the Central Bank of Nigeria (CBN), Mr Jim Obaze has said. In his report, submitted to President Bola Tinubu on December 20, Obaze detailed how a second generation bank was acquired in […]

Three banks fined N800m by CBN over crypto transactions

April 7, 2022April 7, 2022Bode DoluLeave a Comment

Central Bank of Nigeria (CBN) has imposed an N800m fine on three Deposit Money Banks in the country for violating regulations barring customers from transacting in cryptocurrencies. Going by a Bloomberg report released on Wednesday, the three banks are Access Bank Plc, Stanbic IBTC, and the United Bank for Africa Plc. The report noted that […]

CBN to stop sale of forex to banks by December ―Emefiele

February 11, 2022Bode DoluLeave a Comment

The Central Bank of Nigeria has revealed that it would stop the sale of foreign exchange to Deposit Money Banks by the end of the year. According to the CBN Governor, Godwin Emefiele, banks must begin to source their forex from export proceeds, hence the need to support non-oil exporters in the country. He pointed […]