Ajay Banga Announced As The Sole Nominee For President-World Bank
Ajay Banga, a citizen of the United States, has been nominated as the only candidate for the role of the World Bank Group’s next president, according to the board of…
CBN Prevents Banks Seeking Upgrades From Expansion
The Central Bank of Nigeria’s new draft guidelines prohibit banks and other financial organizations applying for conversion licenses from increasing or decreasing their current banking network. This information is provided…
Oyo govt accounts blocked by court, due to debt of N3.4 billion
Federal Capital Territory High Court in Abuja has issued an order attaching funds held in four banks to the credit of the Oyo State Government and its agencies. The order…
SVB will be acquired by First Citizens bank.
First Citizens, a U.S. bank, announced on Monday that it has agreed to buy all loans and deposits from Silicon Valley Bank, whose failure earlier this month raised concerns about…
Community and regional banks demand FDIC support
The Federal Deposit Insurance Corporation (FDIC) is being urged by mid-sized regional banks and their community banking equivalents across the nation to guarantee all bank deposits in order to stop…
Emefiele gives in to pressure and declares old naira notes legal currency.
Godwin Emefiele, the governor of the Central Bank of Nigeria, bowed to pressure on Monday and formally ordered commercial banks to follow the Supreme Court’s ruling, which requires the usage…
Old naira notes are still valid, Sanwo-Olu says,
The Naira redesign strategy, which has disrupted economic and commercial activity, the Lagos State Government claims, has caused hardship. According to the Supreme Court’s ruling from March 3, 2023, Governor…
CBN:N114 billion released, Under the 100-for-100 scheme
The Central Bank of Nigeria has distributed N114.17 billion to 100-for-100 Policy on Production and Productivity recipients since the intervention began. During the most recent Monetary Policy Committee meeting in…
Naira Notes Are Still Legal, the Supreme Court Rules
The old N200, N500, and N1000 banknotes are now legal money, according to the Supreme Court. This verdict was made by the supreme court’s seven-member panel of justices on Friday,…
Healthcare industry needs specialized bank, stakeholders says,
A Health Development Bank of Nigeria (specialized bank) has been proposed by several stakeholders in the health sector as a means of addressing the sector’s financial difficulties. The decision was…