22 results
- 2 Oct 2013
AfDB Invests $70m n PTA Bank to Boost Trade in Africa
Board of Directors of the African Development Bank (AfDB) has approved a financial package consisting of $20 million in additional equity and a $50-million line of credit (LOC) to finance projects in…
- 17 Mar 2012
Scorto Teams up with Financial Institutions in Sub-Saharan Africa
Scorto Corporation, a globally recognized provider of decision management and risk mitigation solutions and services is teaming up with financial institutions in Sub-Saharan Africa to enhance their…
- 19 Dec 2013
AFC Closes US$250m Syndicated Term Loan Facility
The Africa Finance Corporation (AFC) has signed a US$ 250 million syndicated term loan facility, marking its debut in the international syndicated loan market. The facility, which was oversubscribed,…
- 19 Sept 2016
CBN Officials in Forex Scandal, Allegedly Launder Forex Through Phony Firms
A major scandal has hit the new foreign exchange policy of the Central Bank of Nigeria (CBN) as it is now riddled with sharp practices. The policy, which was introduced in March and…
- 12 May 2016
EXIM Bank Signs MoU with UBA
Fred Hochberg, chairman and president of the Export-Import Bank of the United States (EXIM Bank), and Phillips Oduoza, CEO and group managing director of United Bank for Africa (UBA) Thursday signed…
- 20 Feb 2022
Banks Release Names, BVN of Customers Involved in Forex Malpractices
Banks in the country have released more names of forex defaulters in compliance with the directive of the Central Bank of Nigeria (CBN) to publish the names of individuals looking to trick the…
- 21 Dec 2012
Elumelu Makes Top 4 African Business Leaders
Tony O. Elumelu, founder of the Tony Elumelu Foundation and chairman of Heirs Holdings Limited, has been named one of the four African Business Leaders of the Year, at an awards ceremony hosted by…
- 15 Jan 2021
Stanbic IBTC Bureau De Change Discontinues Operations
Stanbic IBTC Holdings Plc has announced that its Bureau De Change subsidiary, Stanbic IBTC Bureau De Change Limited has discontinued business since January 1, 2021, by relinquishing its operating…
- 27 Aug 2021
CBN to Institute Criminal Action against Forex Defaulters
Central Bank of Nigeria (CBN) has threatened to institute criminal prosecution against any defaulter of the new foreign exchange policy. The threat is contained in a syndicated email sent by deposit…
- 21 Feb 2017
CBN Directive to Banks: Not Yet Uhuru for Naira- Otunuga
With the Dollar demand for school fee payments overseas and personal travel allowance enforcing downside pressures on the parallel market, the move by the CBN to sell Dollars to retail users via…
- 22 Dec 2024
CBN Permits BDC Operators to Buy FX from NAFEM During Festive Season
Central Bank of Nigeria (CBN) has announced that eligible Bureau de Change (BDC) operators will have temporary access to the Nigerian Autonomous Foreign Exchange Market (NAFEM) to purchase $25,000…
- 25 Apr 2022
Court Orders CBN, Banks to Unfreeze Accounts of Constitutional Lawyer
A Federal High Court in Abuja has ordered some banks to immediately unfreeze 18 bank accounts operated by Ojukwu Chikaosolu, a constitutional lawyer. Delivering the ruling on Monday, Justice Ahmed…
- 18 Jun 2017
ATCON Backs Call for Telecoms Industry Infrastructure Bank
Mr. Ogungboye Muyiwa, managing director and chief executive officer, eStream Networks has called for the establishment of a Telecommunication Infrastructural (Development) Bank to offer players…
- 24 May 2020
Jaiz Bank Resumes Forex Sales to SMEs
Jaiz Bank Plc, Nigeria’s premier non-interest bank has resumed selling of foreign exchange to Small and Middle Enterprises (SMEs), in its efforts to cushion their challenges amplified by the…
- 7 Jun 2021
CBN to Punish Banks Denying Forex to Travelers
Central Bank of Nigeria (CBN) has warned that any Deposit Money Banks (DMBs) that denies travellers and other foreign exchange (forex) users access to dollars will be punished. Godwin Emefiele,…
- 13 Aug 2021
Bank Chiefs Threaten Arrest, Prosecution of Customers Involved in Fraudulent Forex Purchases
The chief executives of deposit money banks in the country have warned customers against using fraudulent methods to get access to foreign exchange (Forex) from banks, saying those caught…
- 1 Sept 2021
CBN Directs Banks to Publish Names of Forex Defaulters
Central Bank of Nigeria (CBN) has mandated banks to publish the names of customers trying to obtain foreign exchange under false pretences. The commercial banks have been directed to publish names…
- 4 Nov 2021
CBN Spends N58.6Bn to Print 2.5Bn Naira Notes
Central Bank of Nigeria (CBN) spent the sum of N58.618 billion to print 2.518 billion Naira notes, valued at 1. 063 trillion in 2020, according a report in the Vanguard . This was contained in the…
- 10 Mar 2013
Enterprise Bank Unwraps Prepaid MasterCard
Customers of Enterprise Bank are to enjoy additional convenience with the introduction of the lender’s dual purpose prepaid MasterCard used locally and internationally. The bank said the new addition…
- 29 Jul 2021
CBN Warns Banks against Diversion of Forex
Central Bank of Nigeria (CBN) has directed all Depositors Money Bank (DMBs) operating in the country to create an electronic application and alert system aimed to inform customers on the status of…
- 9 Mar 2009
Standard Chartered Partners Travelex on Cash Passport Card
Standard Chartered Bank Nigeria Limited has partnered with global retail FX giant – Travelex to introduce a Visa-based prepaid travel card - Cash Passport which makes access to foreign exchange…
- 29 Apr 2020
Google Meet, Premium Video Conferencing Solution Now Free for Everyone, Everywhere
Google Cloud has announced that it’s making Google Meet, a premium video-conferencing solution, free for everyone, everywhere. The company in a statement released on Wednesday said that…