By: Bisola Adeola, Mr. Demola Banu, a Kwara State Commissioner for Finance, has said the continued depreciation of Naira is negatively affecting banks, other financial institutions and the whole economy at large. He also said it was increasing loan default by bank customers, adding that many micro-finance banks in Nigeria that did not attach loans with securities […]
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The Central Bank of Nigeria (CBN) is set to cancel the Foreign Exchange Primary Dealers (FXPDs) status of some of the 15 FXPDs banks for recording low forex volumes of transactions against set guidelines. In a report by correspondence, Some of the FXDPs banks include FirstBank, Zenith Bank, United Bank for Africa (UBA), Access Bank, GTBank, […]
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Economic and Financial Crimes Commission (EFCC) Chairman Ibrahim Magu vowed yesterday that the agency would go after banks being used for the looting of the nation’s treasury and money laundering. He asked the Central Bank of Nigeria (CBN) to stop private banking in the country and pledged the determination of his team to give corruption […]
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A proposal to limit the over the counter cash withdrawal by bank customers to N10,000 has been tabled before the Central Bank of Nigeria (CBN). Sub-committee on Payments Systems and Infrastructure of the Bankers Committee last week sent the proposal to the CBN. According to The Nation, The proposal was presented at the committee’s meeting but […]
Read More Barring any last-minute change in plans, the Governor of Central Bank of Nigeria, Mr. Godwin Emefiele, will today (Thursday) meet with Managing Directors and Chief Executive Officers of all the Deposit Money Banks in the country. According to Punchng, The meeting, which is scheduled to hold at the headquarters of the apex bank in Abuja, […]
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