CBN’s lending to banks rises 466 % to N268bn
Banks’ borrowings from the Standing Lending Facility (SLF) of the Central Bank of Nigeria (CBN) increased year-on-year (YoY) by 466 percent to N268.3 billion as at end of October 2023 from N47.35 billion as at October 2022 reflecting the increase in currency outside banks.
First bank CEO, Adeduntan, becomes member of Bretton Woods Committee
First Bank of Nigeria Limited has announced that its Chief Executive Officer, CEO, Dr. Adesola Adeduntan has been honoured with membership of Bretton Woods Committee (BWC). FirstBank has also joined Bretton Woods Committee as an Organisational Supporter in line with the commitment to demonstrate cooperation and foster global well-being.
CBN to sanction exports without Export Proceeds Number
The Central Bank of Nigeria, CBN, has threatened to sanction exporters who ship out goods without Nigerian Export Proceeds (NXP) numbers.
Increase in retirement age aggravates youth unemployment — ABCON
Association of Bureaux De Change Operators of Nigeria (ABCON) has cautioned against increasing the retirement age stressing this works against policies aimed at reducing youth unemployment in the country.
Forex:Turnover in I&E reverses trend, jumps 135%
The volume of US Dollars traded (turnover) in the Investors and Exporters (I&E) window of the Nigerian foreign exchange market shot up by 135 percent, month-on-month, to $1.98 billion in September from $843.97 million in August 2020.
Customer Week: UBA banks on innovation, optimization, upgrading of platforms
The United Bank for Africa (UBA) Plc, has said that the recently embarked transformation of its processes is to ensure that customers’ expectations are surpassed as they enjoy seamless and world-class banking services.
