The chairman of the House of Representatives Ad hoc Committee looking into the sale of Polaris Bank, Mr. Henry Nwawuba, stated on Thursday that the sale of the bank was proceeding legally. The politician made this remark at a press conference held at the National Assembly in Abuja. He allayed investors’ concerns about the financial Read More…
Banks’ Unstructured Supplementary Service Data (USSD) debt has increased to N80 billion from the N42billion reported in 2021 the Association of Licensed Telecommunications Operators of Nigeria (ALTON) has said. Mr. Gbenga Adebayo, the President of ALTON, divulged this at the ICT Growth Conference 2.0 organised by the Nigeria Information Technology Reporters Association (NITRA), on Thursday in Lagos. Read More…
The House of Representatives has passed a Bill after the second reading to stop the Governor of the Central Bank of Nigeria (CBN) from participating in future elections in the country. Sada Soli, the sponsor of the Bill at the plenary in Abuja on Tuesday said the bill would add more conditions to the disqualification Read More…
First Bank Holding Plc has said it had instructed its lawyers to defend it following a court order stopping it from implementing all the decisions taken at its 10th Annual General Meeting (AGM) held on June 20, 2022 in Lagos. In a statement yesterday by the Acting Company Secretary, Adewale Arogundade, to the Nigerian Exchange Read More…
A court in Kenya has frozen more than $40 million in accounts belonging to Africa-focused payments giant Flutterwave under the country’s anti-money laundering laws, court documents showed. Founded in 2016 in Nigeria, the San Francisco-headquartered firm, specialises in individual and consumer transfers, one of several fintech firms facilitating and capitalising on Africa’s booming payments market. Read More…
The Central Bank of Nigeria (CBN) has released operational guidelines on the Global Service Instructions (GSI), aimed at checking the spate of bad loans within the banking sector. According to a statement by Chibuzo Efobi, for the Director, Financial Policy and Regulation Department of the apex bank, the initiative was conceived to address recurring instances Read More…
The digital currency, the eNaira, will be launched on Monday. This is coming many months after the Central Bank of Nigeria (CBN) barred banks and financial institutions from dealing in or facilitating transactions in cryptocurrencies. The digital currency will be launched by the Nigerian President, Muhammadu Buhari at State House, Abuja. Central Bank of Nigeria Read More…
Owns five per cent FBN Holding shares, bank group confirms FBN Holdings (FBNH) Plc on Saturday has now confirmed that Mr Femi Otedola has indeed acquired a 5.07 per cent equity stake in the company. This is coming barely 24 hours after it denied notification of possible acquisition of bulk shares by the business mogul. Read More…
Independence Day, 1st October 2021, is the day that the Central Bank of Nigeria (CBN) has set aside as the day the new digital currency will be rolled out. According to the Director of Information Technology, Central Bank of Nigeria (CBN), Rukiya Mohammed, the apex bank has concluded plans to launch the Central Bank Digital Read More…
If all plans go as intended, the Central Bank of Nigeria (CBN) will be launching its own digital currency by the end of the year. According to an official of the nation’s premier bank, Central Bank Director of Information Technology, Rakiya Mohammed, the project to create some form of digital currency had been in the Read More…
