First Bank too big to be owned by one person — CBN
By Emma Ujah and Emmanuel Elebeke The Central Bank of Nigeria (CBN) has said that it would be guided by the decision of the Securities and Exchange Commission (SEC) on the ownership structure of FBN Holdings Plc, the parent company of First Bank Plc. The company’s majority stake recently became a subject of controversy among […]
CBN to return capital deposits, licensing fees of pending BDC applications
By Elizabeth Adegbesan The Central Bank of Nigeria, CBN, announced it will commence the return of capital deposits and licensing fees to promoters who have pending Bureaux de Change (BDC) licence applications. The apex bank, today, disclosed this in a letter to Promoters of BDCs and Deposit Money Banks, DMBs. The regulator also directed, DMBs, […]
Just In: CBN orders DMBs to sell FX to customers
The Central Bank of Nigeria, CBN, has ordered Deposit Money Banks, DMBs to sell foreign exchange (FX) to customers.
Bears resurface on NGX, indices down by 0.12%
Sentiments on the domestic bourse turned negative on Tuesday to halt the five consecutive days of gains, as the Central Bank of Nigeria (CBN) held all policy parameters unchanged. Specifically, the All-Share Index lost 46.93 points or 0.12 per cent to close at 38,802.15 from the 38,849.08 recorded on Monday. Consequently, the month-to-date gain moderated […]
CBN reiterates financial soundness, safety of banks
*Advises customers to disregard damaging reports By Elizabeth Adegbesan The Central Bank of Nigeria, CBN has reiterated the financial soundness, safety and resilience of Deposit Money Banks (DMBs) and Other Financial Institutions (OFIs) in the country. The bank made this clarification in response to certain false and unfounded stories circulating in social media attacking the […]
CBN releases guidelines, framework for Mobile Money Services
By Elizabeth Adegbesan The Central Bank of Nigeria, CBN, today released Regulatory Guidelines and Framework for Mobile Money Services in the country. According to CBN, the introduction of mobile telephony in Nigeria and its rapid growth and adoption among other factors have underscored its decision to issue the framework as it will create an enabling […]
