Category: Banking
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CBN: Monetary Policy Adjusted 200 Basis Points to 24.75%
Press Release Abuja, March 26 – The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its 294th meeting on the 25th and 26th of March 2024 to review recent economic and financial developments as well as assess risks to the outlook. Decisions of the MPC The…
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CBN Revokes Operational Licenses of 4,173 BDCs
Abuja, March 1 – The Central Bank of Nigeria (CBN), in exercise of the powers conferred on it under the Bank and Other Financial Institutions Act (BOFIA) 2020, Act No. 5, and the Revised Operational Guidelines for Bureaux De Change 2015 (the Guidelines), has revoked the licenses of 4,173 Bureaux…
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President Tinubu Appoints New AMCON Management Team
STATE HOUSE PRESS RELEASE Abuja, Feb. 22 – President Bola Tinubu has approved the appointment of a new management team for the Asset Management Corporation of Nigeria (AMCON), pending their confirmation by the Nigerian Senate: (1) Gbenga Alade — Managing Director/CEO (2) Aminu Ismail — Executive Director (3) Adeshola Lamidi…
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Access Holdings Plc Announces the Appointment if Ms. Bolaji Agbese as Acting Group Chief Executive Officer
Lagos, Feb. 12 – Further to its announcement dated February 1, 2024, the Board of Directors of Access Holdings Pic (‘the Company’) has today announced the appointment of Ms. Bolaji Agbede as the Acting Group Chief Executive Officer of the Company following the unfortunate demise of its former Group Chief…
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Central Bank Warns Against Use of Foreign Currency as Medium of Exchange in Nigeria
Abuja, Feb. 5 – THE USE OF FOREIGN CURRENCY AS A MEDIUM OF EXCHANGE IN NIGERIA The attention of the Bank has been drawn to the increasing use of foreign currencies in the domestic economy as a medium of payment for goods and services by individuals and corporates. It has…
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CBN Says No Plans to Convert Domicilliary Account Holdings to Naira
Abuja, Feb. 3 – The attention of the Central Bank of Nigeria (CBN) has been drawn to a story published by a national newspaper alleging that the Federal Government is considering converting $30bn domiciliary deposits to Naira. This allegation is absolutely false and aims to trigger panic in the foreign…
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Zenith Bank Statement Regarding False Reports of Arrest of Group Chief Executive Officer
Lagos, Jan. 10, 2024 – PUBLIC STATEMENT FROM ZENITH BANK PLC REGARDING FALSE REPORTS OF THE GROUP MANAGING DIRECTORS’ ARREST BY THE ECONOMIC AND FINANCIAL CRIMES COMMISSION (EFCC). We have become aware of inaccurate reports circulating on social media and certain news outlets alleging that Dr. Ebenezer Onyeagwu, the Group…
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Access Bank completes acquisition of Atlas Mara Zambia
Lagos, Jan. 9, 2024 – COMPLETION OF THE ACQUISITION FO ATLAS MARA ZAMBIA BY ACCESS BANK (ZAMBIA) LIMITED Further ot our announcement ni March 2023, Acces Holdings Pci (“the Company “) si pleased ot announce that Access Bank (Zambia) Limited (“Access Zambia”) a subsidiary of the Companys’ flagship subsidiary, Access…
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Turk Eximbank Joins Africa Finance Corporation (AFC) as Inaugural non-African Shareholder
LAGOS, Nigeria, December 29, 2023 — Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, today announced an equity investment from Turk Eximbank on behalf of the Republic of Türkiye, marking a historic milestone in onboarding the Corporation’s first non-African sovereign shareholder. The equity subscription from Türkiye’s official…
TNG Presswire 