Tag Archives: CBN

The Central Bank of Nigeria (CBN) is to sanction Banks, their customers, firms that abuse its policy restricting foreign exchange (forex) allocation to 41 items. According to the CBN, culprits are to be investigated by the Economic Intelligence Unit of the CBN in collaboration with the Economic and Financial Crimes Commission (EFCC). The CBN explained through its  Director, Financial Policy …

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The Nigerian Stock Exchange (NSE) is set to host the 2018 edition of its Exchange Traded Products (ETPs) conference tagged – Exchange Traded Products: Evolving investment themes, Accessing New Markets and Enhancing Portfolio Alpha. The event is scheduled for December 5, 2018 at Oriental Hotel, Lekki Road Lagos. The conference will address Investors, Fund Managers, Regulators, and Capital Market Intermediaries …

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The Central Bank of Nigeria has granted Diamond Bank Plc the approval to operate as a national bank following its application for it. The bank’s Chief Executive Officer, Mr. Uzoma Dozie, said this in a statement signed by the bank’s Head of Media, Ezechinyere Anyanwu, on Friday in Abuja. According to Dozie, the move was part of Diamond Bank’s strategy …

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The Central Bank of Nigeria (CBN) has pumped $26.765 billion into the interbank segment of the foreign exchange (forex) market since it started its forays into the market in February last year, figures compiled have shown. According to Thisday reports, the amount of the weekly forex sales increased by $3.508 billion, from N23.257 billion as of August 8, to $26.765 …

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…As 3 Banks fail liquidity ratio requirement The Central Bank of Nigeria (CBN) has revealed that commercial banks in the country lost a total of N12.06 billion to fraud and forgeries in the first six months of 2018. This is just as the banking sector regulator revealed that as of June 2018, three commercial banks did not have the prescribed minimum …

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The Central Bank of Nigeria has stipulated N5 billion minimum capital requirement for the Payment Service Banks in the country. In a circular to all stakeholders on the guidelines for licensing and regulation of the PSBs, which was released on Thursday, it also gave N500,000 as non-refundable application fee, N2m non-refundable licensing fee, and N1m change of name fee. In …

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The Central Bank of Nigeria’s (CBN) Manufacturing Purchasing Managers’ Index (PMI) expanded to 56.8 points in October. The present position of the manufacturing PMI, indicated an increase for the 19th consecutive month. The CBN disclosed this in its October PMI report that was posted on its website. The index grew at a faster rate when compared to the index in …

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A Federal high court sitting in Lagos south west Nigeria today adjourned till 4th of December,  2018 for the hearing of preliminary objection filed by the Central Bank of Nigeria (CBN) and other pending applications in the  suit filed by MTN  Nigeria communications Limited against the Central bank of Nigeria CBN fine of $8,134,312,397.63 . Joined as co-defendant is the …

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Diamond Bank plc Q3 unaudited financial report for the period ended September 30, 2018 showed a strong focus on the Nigerian market, especially the retail sector through its technology led retail strategy to drive growth and position SMEs for competitiveness. The report submitted to the management of The Nigerian Stock further  showed that the Bank’s retail strategy is quite rewarding …

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The Nigerian Stock Exchange (NSE) on Monday suspended trading in the shares of six listed companies. The companies were suspended after they failed to file details of their accounts to the Exchange as stipulated by market regulations. The six companies are DN Tyre & Rubber Plc, FTN Cocoa Processors Plc, International Energy Insurance Plc, Thomas Wyatt Nigeria Plc, Union Dicon …

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