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FG To Sign 2017 Budget Into Law Next Week

FG To Sign 2017 Budget Into Law Next Week

Nigeria’s presidency is expected to sign the 2017 budget into law next week, the speaker of the lower chamber of parliament, Yakubu Dogara, and two presidency sources said on Friday. The record 7.44 trillion naira budget passed by parliament on May 11 was bigger than the 7.298 trillion naira draft spending plan submitted by Buhari […]

CBN To Pump More Dollar Into Forex Market

CBN To Pump More Dollar Into Forex Market

The Central Bank of Nigeria (CBN) is set to inject more funds into forex market this week as part of resolve to achieve forex rates convergence and liquidity in the market. The naira experienced strong showing in the foreign exchange market last week gaining substantial ground against the United States dollar, at N363/$1 compared to the […]

CBN To Sustain Interbank Market Intervention

CBN To Sustain Interbank Market Intervention

Naira’s continued gains against the dollar will not deter the Central Bank of Nigeria (CBN) from sustaining its intervention in the interbank market, the apex bank said yesterday. The CBN has since February been pumping in dollars in all segments of the interbank market to ensure liquidity and availability of forex. More than $5 billion […]

Financial Institutions Aiding Illicit Flow Of Funds To Be Sanctioned: Osinbajo

Financial Institutions Aiding Illicit Flow Of Funds To Be Sanctioned: Osinbajo

Banks and financial institutions that actually engage in this  are to be called out and made to face the consequences of engaging in criminal practices The Federal Government on Monday said it will now criminalise and sanction financial institutions that aides and houses illicit financial flows. This is even as the government alleged that media organisations in […]

Jaiz Bank Is Worst Performing Stock On NSE In May

Jaiz Bank Is Worst Performing Stock On NSE In May

Jaiz Bank emerged worst performing stock in percentage terms on the Nigerian Stock Exchange (NSE) for the month of May. The News Agency of Nigeria (NAN) reports that data obtained from the exchange for the month of May indicated that the stock dropped by 17.39 per cent, to close at 95k per share, as against […]

Privatised Companies To Be Listed On NSE, Says BPE

Privatised Companies To Be Listed On NSE, Says BPE

Privatized government entities are to be listed on the Nigerian Stock Exchange, The Bureau of Public Enterprises (BPE) says, although it has raised concerns on the stability and the prospects of realising good value for the firms via listing. The BPE Director General, Mr Alex Okoh said this when he received members of the Nigerian Stock […]

GTWorld: GTBank Launches Nigeria’s First Fully Biometric Mobile Banking App

GTWorld: GTBank Launches Nigeria’s First Fully Biometric Mobile Banking App

The simplicity of GTWorld and innovations such as facial recognition and fingerprint also ensure that our customers enjoy a seamless experience, anywhere, anytime and anyhow that they choose to bank. Foremost African financial institution, Guaranty Trust Bank Plc, is leading the future of digital banking with the launch of GTWorld, a mobile banking app that […]

MMM: 23 Banks Got N28.7bn Inflows From Scheme

MMM: 23 Banks Got N28.7bn Inflows From Scheme

No fewer than 23 Nigerian banks received inflows amounting to N28.7 billion executed in 460,000 transactions through the Mavrodi Mondial Moneybox (MMM) Ponzi scheme within six months, the 2016 annual report of the Nigeria Electronic Fraud Forum (NeFF) has revealed. The amount, which was moved between June and December 2016, is 61 per cent higher […]

How To Secure Your Digital Banking Transactions (Updated)

How To Secure Your Digital Banking Transactions (Updated)

Digital banking is the future of banking and commercial banks will continue to develop various products around their digital banking platforms. The Cashless Nigeria policy has compelled bank customers to use their debit and credit cards for many of their banking transactions. Many are using payment wallets to avoid using their payment cards all the time. Most first -time users of digital banking […]

CBN’s Regular Intervention In Forex Market Inevitable, Segun Ajibola Says

CBN’s Regular Intervention In Forex Market Inevitable, Segun Ajibola Says

The President and Chairman of Council, Chartered Institute of Bankers of Nigeria, Prof. Segun Ajibola, has said the continued intervention of the Central Bank of Nigeria in the foreign exchange market to strengthen the naira is inevitable due to the volatile nature of the market. According to him, the FX market requires “constant policing”, adding […]

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