Tag Archives: CBN

FCMB Group Plc On Monday October 23, 2017 said it has entered into an agreement with other shareholders of Legacy Pension Managers Limited for the acquisition of an additional 60 percent stake in Legacy. According to a statement sent to the Nigerian Stock Exchange (NSE), the proposed acquisition will increase FCMB’s interest in Legacy to 88.2 percent, thus making Legacy …

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Unity Bank Plc’s capital base has hit N80 billion, up from N31 billion in 2014, Mr. Thomas Etuh, former Chairman, Board of Directors, has said. Etuh, the immediate past board chairman of the bank said in a post-retirement interview with journalists in Abuja that the growth was recorded under his watch, between 2014 and 2017. Etuh who retired as the …

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Skye Business School has been awarded full accreditation status as a full-fledged banking/finance, business and continuous human capital training academy by the Chartered Institute of Bankers of Nigeria (CIBN). The accreditation which is in collaboration with the Central Bank of Nigeria (CBN) is sequel to the conclusion of a rigorous vetting and accreditation process. CIBN is the body that regulates …

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Guaranty Trust Bank (GTB) Plc has posted a profit of N125.58 billion for the third quarter ended September 30, 2017. This is contained in the bank’s filling at the Nigerian Stock Exchange NSE on Wednesday. The report showed that the profit represented a growth of N8.49 billion or 7.21 per cent as against N117.08 billion achieved in the corresponding period …

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In exercise of its powers and in line with its desire to promote and facilitate the development of efficient and effective payment systems in the country, the Central Bank of Nigeria (CBN) Thursday issued the regulatory framework for the bank verification number (BVN) operations as well as for watch-list of fraudsters in the banking industry. The central bank disclosed this …

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Mr Omotayo Sowunmi, a witness in the  alleged N8 billion Central Bank of Nigeria (CBN) currency scam case, on Wednesday said that the apex bank  lost N8.3 million in a single box meant to contain N10 million. Testifying before Justice Nathaniel Ayo-Emmanuel of the Federal High Court, Ibadan, Sowunmi, a staff of Ecobank, said he was present when the box meant to …

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A House of Representatives panel has queried the Central Bank of Nigeria (CBN) and some commercial banks for allegedly charging extra amount out of the approved N50 stamp duty collected on behalf of the government. The committee on telecommunications chaired by Rep Saheed Akinade-Fijabi (APC, Oyo), said from the available records presented by some of the commercial banks, it appeared …

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The Bankers Committee of the Central Bank of Nigeria (CBN) at the end of its meeting on Thursday October 5, 2017 disclosed that the disbursement of N26 billion special fund set up for Small and Medium Enterprises (SME) particularly in the Agricultural sector will commence before the end of 2017. The special fund is a 5 percent equity contribution from …

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The Central Bank of Nigeria (CBN) is threatening to sanction exporters who fail to repatriate foreign exchange (forex)  proceeds from their businesses  into the economy. CBN Director (Banking Supervision) Abdullahi Ahmad, who issued the warning yesterday during the Bankers’ Committee meeting in Lagos, spoke of a provision in the CBN Foreign Exchange Manual that mandates all exporters to repatriate their …

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There has been panic since Wednesday morning as customers of Guaranty Trust Bank (GTB) around the Lagos metropolis have been experiencing difficulties in transaction. One of the bank’s customers around Abule Egba area of Lagos told National Wire this afternoon that customers have besieged the bank due to some rumour making the rounds that the bank is having problems with …

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