The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) at its meeting on Monday retained its Monetary Policy Rate (MPC) which measures the interest rate at which the apex bank lends to commercial banks, at 12.5 per cent. It maintained that tightening the rate at this time could hinder expansion of affordable […]
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The Board of Directors of Fidelity Bank Plc yesterday announced the appointment of Mrs. Nneka Onyeali-Ikpe, the current Executive Director, Lagos and South-west Directorate, as the Managing Director/Chief Executive Officer (MD/CEO) designate. It also announced the impending retirement of the current MD/CEO of the bank, Mr. Nnamdi Okonkwo. A statement from the bank said Okonkwo […]
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Heritage Bank plc, Nigeria’s most innovative banking service provider has upgraded its HB ‘Padie’ mobile application to HB ‘Padie’ 2.0, which comes with new improved features for convenient, quick, secure and affordable way for seamless 24/7 banking transaction. The HB ‘Padie’ 2.0 app has been redesigned and relaunched with new improved multi-functional feature and game-changing […]
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Pan African financial institution, Ecobank said it recently won the prize of Africa’s Best Bank for Corporate Responsibility in the Euromoney Awards for Excellence 2020. Euromoney recognises Ecobank’s focus on sustainability and partnerships and its core capabilities in delivering positive social and environmental outcomes across Africa. Chief Operating Officer of the Ecobank Foundation, Carl Manlan, […]
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The National Bureau of Statistics (NBS) says Consumer Price Index, (CPI) which measures inflation, increased to 12.56 per cent year-on-year in June, 2020. The NBS made this known in its CPI and Inflation Report for June released on Friday. It stated that the report showed that June inflation was 0.16 per cent points higher than […]
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The Federation Accounts Allocation Committee (FAAC) has shared N651.18 billion Federation Account Revenue to the federal, states and local governments councils and relevant agencies for the month of June. Mr Henshaw Ogubike, Director Information, Press and Public Relations of FAAC announced the figures in a statement on Sunday in Abuja. Ogubike said the monthly meeting, […]
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Dr. Ngozi Okonjo-Iweala, who is Nigeria’s candidate for the position of Director General of the World Trade Organisation (WTO), has assured least developed countries (LDCs) and Small Vulnerable Economies (SVEs) that are members of the global trade body of her support if given the job. She said she would provide opportunities for them to participate […]
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The Central Bank of Nigeria (CBN) is seeking legislative powers through the Senate Committee on Banking, Insurance and other Financial Institutions to grant it exclusive rights to issue and revoke banking licenses. The apex bank Governor, Godwin Emefiele said that licensing of banks and revocation of the same when a bank goes distressed will bring […]
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As part of effort to further sanitise the banking industry, the Nigeria Deposit Insurance Corporation (NDIC) has proposed stiff penalties for negligent Directors of failed banks. This according to the agency will serve as deterrence and ensure the banking industry secures compliance with available laws and regulation. The Corporation also proposed criminalising insider loans by […]
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President Muhammadu Buhari has given directives for better coordination among security and investigating agencies with the National Assembly to ensure that the administration’s effort to bring sanity, transparency and accountability to the management of the large amount of resources dedicated to development of the Niger Delta sub-region is not derailed. In his reaction to the […]
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Fidelity Bank Plc has announced that two of its Board members, Mr. Ernest Ebi who has been serving as Chairman, Board of Directors and Mr. Seni Adetu, who has been serving as an Independent Non-Executive Director, having successfully completed their tenure in accordance with the Bank’s internal governance policy, will be stepping down from the […]
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The Central Bank of Nigeria (CBN) has directed all authorised dealers to discontinue the processing of Form M for the importation of maize with immediate effect. The CBN made this known in a circular signed by Dr Ozoemena Nnaji, the Director of Trade and Exchange Department of the apex bank in Abuja. Form M is […]
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