Tags: CBN

CBN Begins ‘Naira 4 Dollar Scheme’ For Diaspora Remittances

In an effort to sustain the increase in inflows of diaspora remittances, the Central Bank of Nigeria (CBN) begins an incentive policy for senders and recipients of International Money Transfers tagged, the “CBN Naira 4 Dollar Scheme”. According to the apex bank, the scheme which starts today (Monday) and ends in May 2021 is part…

Dangote Grooms Nigerian Engineers to Manage Refinery Complex on Completion

The Management of Dangote Oil Refinery is preparing young Nigerian graduates to take over the management of its 650,000 barrels per day single train refinery when it becomes operational in 2022. Already, the company has trained several Nigerian engineers in some of the world’s biggest refineries in India and other parts of the world to…

First Bank Hits Over 86,000 Firstmonie Agents, Empowers More Nigerians

In furtherance of the need to promote the business activities of its foremost agent banking platform – Firstmonie Agents – Nigeria’s leading financial inclusion services provider led by Dr. Adesola Adeduntan, First Bank of Nigeria Limited, has announced the provision of loan facilities – up to one million naira – to its banking agents. The…

Buhari Orders CBN Not To Give Forex For Food Import

  President Muhammadu Buhari has once again ordered the Central Bank of Nigeria (CBN) not to give foreign exchange for food importation. The president who on Tuesday reiterated his earlier directive given to the CBN in September promised that his administration will keep a keen eye on food inflation in the New Year. President Muhammadu…

Ex-Bankers Indicted in CBN Mutilated Currency Scam Lied About Bribe Demand from EFCC

The Economic and Financial Crimes Commission, EFCC has denied claims that its investigators pressured former bankers, standing trial for allegedly defrauding of the Central Bank of Nigeria in the mutilated currency scam, for a bribe of N96 million for their release on bail. Three former bankers, Ayodele Adeyemi, Ishaq Akano and  Ajiwe Adegoke had in…

GTBank Gives Update on Re-Organisation To Financial Holding Company

Guaranty Trust Bank Plc has announced that it has obtained the approval-in-principle of the Central Bank of Nigeria (the CBN) to commence the formal process of the re-organisation of the Bank to a financial holding company (the Restructuring). In a statement released and signed by the Company Secretary, the bank stated that the implementation will…

CBN Requests Account Statements of ‘Baba Ijebu’

The Central Bank of Nigeria (CBN) has requested that all banks in the country should submit the statements of domiciliary accounts some high profile individuals, including owners of popular betting companies Nigeria. Baba Ijebu and Premier Lotto Founders who alongside some individuals recently had their company’s bank accounts frozen over forex infractions are part of…

CBN, Heritage Bank Provide N2b Loan To Aquaculture Projects

In a bid to further support the real sector and unlock food potentials, Heritage Bank Plc in collaboration with the Central Bank of Nigeria provided N2billion long term facility under the Commercial Agriculture Credit Scheme to Triton Aqua Africa Ltd (TAAL). TAAL known as Triton Farm accessed the CACS through Heritage Bank, which is used…

CBN Awards Skye Bank for fight against Electronic Fraud

Skye Bank Plc. has emerged “The Most Committed Watch Listing Bank in Nigeria” out of four corporate awards that were up for grabs at the Nigeria Electronic Fraud Forum (NeFF) Annual Dinner and Awards which held in Lagos recently. This was confirmed in an industry-wide survey administered by Central Bank of Nigeria (CBN), in conjunction…