Business

The former deputy governor, Central Bank of Nigeria (CBN), Prof.. Kingsley Moghalu, has expressed that the embattled ex-CBN Governor, Godwin Emefiele, is the worst the apex bank has ever produced in the history of the country. Moghalu expressed the views in a lengthy post on his verified X handle on Saturday. He, however, raised a concern about how a report…

A former Governor of the Central Bank of Nigeria, Godwin Emefiele has been released from the Kuje Correctional Centre after meeting up with his bail condition. Our correspondent learnt that Emefiele was released on Friday, December 22 2023. The spokesperson for the Kuje Correctional Centre, FCT, Adamu Duza, confirmed the development to our correspondent on Saturday. “I can confirm to…

The Central Bank of Nigeria (CBN) has issued a warning against Deposit Money banks as well as Point of Sales (POS) merchants over the hoarding of cash in the country.  This was contained in a circular signed by CBN’s acting director of Corporate Communications, Hakama Sidi-Ali, on Thursday.  The apex bank said there is an alleged collusion between the banks…

MTN Nigeria, Airtel Africa, and among others Telecommunications operators in Nigeria have been directed by the Nigerian Communications Commission (NCC) to implement full network barring on all phone lines for which the subscribers have not submitted their national identification numbers (NINs) by February 28, 2024. In addition, those who had submitted their NINs but have not been verified are also…

Wema Bank Plc will target a share placement or a public offer ahead of a forthcoming industry recapitalisation order, after raising N40 billion this month, its executive director, Tunde Mabawonku disclosed. Mabawonku, who also serves as Wema’s chief finance officer, said its current share sale would close on Dec. 29 and would help catapult shareholder funds to N160 billion including…

The Head of Media Relations, Access Holdings Plc, Mr. Abdul Imoyo dies on Sunday morning. A statement issued by Tunde Imoyo, on behalf of the family, said he died in the early hours of Sunday, December 17, 2023, at the First Cardiology, Ikoyi, Lagos, after a brief illness. The statement reads: “It is with deepest sorrow that we inform you…

A leading fintech company, PalmPay has launched a new security in-app version that mandates all new users to input their BVN or NIN numbers before a wallet can be created. The product launch was in response to the Central Bank of Nigeria’s recent directive on promoting financial system stability by strengthening the Know Your Customer (KYC) procedure for customers. Speaking…

Lucky winners in the just-concluded PalmPay Savings Challenge have described their winning of iPhone 15 and TECNO Phantom X2 smartphones as an unexpected ‘Detty December’ gift from the leading fintech company. “I feel very excited about winning a TECNO Phantom X2. I have been using PalmPay for two years, so this win was unexpected,” said university undergraduate Adesola Adehuwa, who…

The Central Bank of Nigeria (CBN) has announced a suspension of new loan applications under its Intervention program. In a circular entitled “Suspension of Acceptance of New Applications under the Existing Central Bank of Nigeria, CBN Development Finance Intervention Programme,” addressed to the Chief Executives of banks, the CBN outlined this new directive. The circular, signed by the Acting Director…

The Central Bank of Nigeria (CBN) on Monday expressed that FBN Holdings Plc, Zenith Bank Plc, among other banks remain resilient, stressing that no licensed bank has failed the apex bank’s Capital Adequacy Ratio (CAR) for international authorisation. The acting Director, Corporate Communications, CBN, Mrs. Sidi Hakama in a signed statement said, “The attention of the CBN has been drawn…