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CBN To Ban Unauthorised FX Dealers

CBN To Ban Unauthorised FX Dealers

The Central Bank of Nigeria (CBN) has threatened to bar authorised dealers in foreign exchange (forex) who fail to comply with its new directive on foreign exchange transactions. According to a circular released over the weekend and signed by Dr. Alvan E Ikoku, Director, Financial Markets Department to all authorised dealers, the apex bank ordered […]

Transcorp MD Predicts Stock Market Rebound

Mr Emmanuel Nnorom, the Chief Executive of Transcorp, says the capital market will soon rebound with the current positive developments in the foreign exchange market. Nnorom said on Monday in Lagos that the capital market would soon overcome the current lull with foreign exchange rate stability and improvement in various sectors of the economy. He […]

Guaranty Trust Bank Extends ICS Banks Core System Roll- Out To Tanzania

Guaranty Trust Bank Extends ICS Banks Core System Roll- Out To Tanzania

Guaranty Trust Bank (GTBank), a Nigeria-based bank operating across multiple countries in Africa, has extended the roll-out of its core banking system, ICS Banks, to Tanzania. The solution is supplied by ICS Financial Systems (ICSFS). Banking Technology understands this is the second core banking software project for ICSFS in Tanzania, following an earlier deal with […]

Women Arrested For Selling Naira Notes

Six women were arrested by the police in conjunction with the Central Bank of Nigeria (CBN), for allegedly selling mint naira notes in Lagos. The women were allegedly selling the notes to people going to parties to ‘spray’ against CBN Act in 2007. The suspects-Fausat Jimoh, Bisoye Oyegbile, Balikis Ajadi, Bisola Amoru, Abidemi Oladejo and […]

Nigeria’s Fx Market Posts Dollar Trades At Near Record Low

Nigeria’s Fx Market Posts Dollar Trades At Near Record Low

Nigeria’s interbank forex market traded $540,000 in early deals at 375 naira per dollar, near a record low exchange rate hit last November, Thomson Reuters data showed on Monday. The local currency traded at a record low of 375.50 to the dollar last November on the official interbank market before it reversed losses. The interbank […]

UBA Customers Condemn Non-Functioning Mobile App

UBA Customers Condemn Non-Functioning Mobile App

Odekuma Faith: UBA Pls change!  The rate at which money is being deducted from my account is too much. Tired of banking with UBA UBA Group: Hello, we apologize. Kindly inbox your mobile number, account number, date of birth  and  email address to enable us assist. Thank you. Enebi Sarah: UBA mobile app is either […]

Customers Complain Over Failed PoS – Zenith Bank

Customers Complain Over Failed PoS – Zenith Bank

Lawal Abimbola Idris: Too bad from you, I used your ATM in Festac on 29th of January but no amount was dispensed but I was debited for the sum of N20, 000 from my account. When I got to the branch in Festac I was told my details have been sent to head office. Till […]

Heritage Bank Promotes Reading Culture In Schools

Heritage Bank Promotes Reading Culture In Schools

Heritage Bank Plc joined in celebrating the “World Book Day” by means of implementing one of its literacy initiatives and donation of books to schools. The bank has decided to lend its support to the biggest celebration of its kind, designated by UNESCO as a worldwide celebration of books and reading in its 20th year, and marked […]

Stock Exchange Lists Nigeria’s $1b Eurobond

Stock Exchange Lists Nigeria’s $1b Eurobond

The Nigerian capital market recorded a milestone yesterday with the listing of the $1 billion Eurobond issued by the Federal Government on the Nigerian Stock Exchange (NSE). The $1 billion FGN Eurobond issued under Nigeria’s newly established Global Medium Term Note programme is the first foreign currency denominated security to be listed and traded in […]

CBN Sells N310b Treasury Bills

CBN Sells N310b Treasury Bills

The Central Bank of Nigeria (CBN) has raised N310.14 billion (about $985 million) at an auction of treasury bills at yields lower than the inflation rate The bank sold N222 billion of one-year treasury bills at a yield of 18.49 per cent, lower than inflation at 18.72 per cent and compared with 18.44 per cent […]

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