CBN unveils new FX guidelines, approves cash movement of $50,000
By Emma Ujah, Abuja Bureau Chief The Central Bank of Nigeria (CBN) has issued fresh Foreign Exchange Guidelines which provides that an individual can move cash of up to $50,000, but must be declared at the point of exit. The bank also retained the earlier provision for the movement or import of cash of up to […]
Deloitte identifies responsibilities, challenges of IFRS project team
Ahead of the 2012 reporting date for listed and significant public entities, Akintola Williams Deloitte has identifies responsibilities and challenges of International Financial Reporting Standards (IFRS) project team.
FG plans framework for banks’ investment in renewable energy
The Federal Government has called on banks and financial institutions in the country to help finance the development and deployment of renewable energy technology in Nigeria, saying that it will soon put in place the necessary framework to encourage investment in the sector.
Access Bank partners Nickelodeon, targets young savers
Access Bank Plc has entered into a strategic partnership with Nickelodeon, the global family entertainment brand, in the launch of a new retail banking product, ‘Early Savers Account,’ targeted at children in Nigeria.
Frac Tech files for expanded $1.15 billion IPO
Frac Tech International wants to raise up to $1.15 billion in an initial offering of stock that will give investors a chance to back the booming development of oil and gas resources through hydraulic fracturing.
Union Bank opts for core investor
Union Bank Nigeria Plc has opted for the core investor option in its recapitalisation plans, in a deal that will ensure that the core investor controls 60 percent equity, while existing shareholders get 21 percent and AMCON keeps 19 percent stake in the bank.
Standard Chartered Bank opens new branch in Lagos
Standard Chartered Bank Nigeria has opened a new branch in Lagos, located on Isaac John Street, Ikeja.
IMF says policymakers in advanced economies should use all measures to boost growth
The International Monetary Fund (IMF) says policymakers in advanced economies should use all available tools to boost growth.
ETI to buy 100% of Oceanic Bank for N55bn
Oceanic Bank,Monday, said it will transfer 100 per cent of its share capital to Ecobank Transnational Incorporated, ETI, and merge its operations with ETI’s local unit in a bid to recapitalise ahead of the Central Bank of Nigeria, CBN, September deadline.
Bank shareholders pledge support for acquisition deals
Ahead of the court-ordered general meetings for the five rescued banks by the Central Bank of Nigeria, CBN, shareholders have expressed willingness to approve their acquisition deals with other banks to meet up the September 30 deadline by the apex bank for their recapitalisation.
May & Baker appoints two new Directors
MISTER Ezekiel Odunlami Ibidapo and Mrs. Gloria Ijeoma Odumodu,have been appointed members of the Board of Directors of May & Baker Nigeria Plc, Pharmaceutical giant.
