CBN Increases Interest Rate To 26.75% Amid Rising Inflation, Hardship
The Central Bank of Nigeria, CBN, has increased the country’s Monetary Policy Rate (MPR), which is also known as interest rate from 26.25% to 26.75% The Monetary Policy Rate measures interest rates by 50 basis points. The apex bank announced…
CBN announces fresh guidelines on dormant accounts, unclaimed balances in Nigerian banks
The Central Bank of Nigeria, CBN, has directed all banks and other financial institutions in the country to transfer all dormant accounts and unclaimed balances and other financial assets to its dedicated account. The apex bank disclosed this on Friday…
9mobile appoints new CEO
Emerging Markets Telecommunication Services Limited (EMTS), operating as 9mobile, has announced the appointment of Obafemi Banigbe as its Chief Executive Officer. This strategic move is part of the company’s broader plan to embark on a new phase of business transformation,…
CBN to implement more policies to tackle cybersecurity challenges
The Central Bank of Nigeria (CBN) says it will continue to implement more policies to tackle cybersecurity challenges and foster innovation to ensure the stability and integrity of the financial system. The deputy governor of financial systems stability at CBN,…
BREAKING: Otedola buys fresh 2.22% shares as stakes in FBN Holdings hit 11.63%
Femi Otedola, billionaire businessman and chairman of FBN Holdings, has acquired an additional 2.22 percent shares in the First Bank of Nigeria The acquisition was disclosed in a corporate filing on the Nigerian Exchange Group (NGX) on Monday. The fresh…
You want to look steeze? Visit Mide’s Store
Part of the most important elements of your party-wear and work-wear wardrobe are your shoes and bags. Several people detest using a common fashion accessories, hence, the need to go extra miles in getting their party shoes and bags. Some…
FG increases number of oil blocks for 2024 bid round
The federal government has increased the number of oil blocks on offer in the 2024 marginal bid round. Gbenga Komolafe, chief executive officer (CEO) of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), spoke on Tuesday at the pre-bid conference for…
JUST IN: CBN denies revocation rumours for Fidelity, Polaris, Wema, Unity Banks
The Central Bank of Nigeria (CBN) has refuted allegations that it is contemplating the revocation of operating licences for Fidelity, Polaris, Wema, and Unity Banks. This clarification came amidst concerns about the stability of some Nigerian banks following the licence…
CBN Reportedly Axes 200 Staff Amid Economic Hardship
Reports indicate that the Central Bank of Nigeria has laid off 200 staff members due to economic challenges. A senior staff member, who chose to remain anonymous, confirmed this development to our correspondent on Friday night. “Over 200 staff members…
CBN Mandates Reapplication for Bureau De Change Licenses
The Central Bank of Nigeria (CBN) has directed all existing Bureau De Change (BDC) operators to reapply for new licenses under updated guidelines. This announcement was made on Wednesday in a circular signed by Haruna Mustafa, Director of the Financial…