MONEY MARKET

A seasoned stockbroker and the Managing Director of APT Securities and Funds Limited, Mallam Garba Kasimu Kurfi, has praised  the Central Bank of Nigeria (CBN) on its efforts at compelling banks operating in the country to be granting loans to businesses to ensure  the speedy  recovery of the nation’s economy....

The Central Bank of Nigeria (CBN) has revised timelines for reversals and/or resolution of refund complaints on electronic channels with effect from June 8, 2020. According to the CBN, in a statement on Sunday, the bank stated that with regards to failed transaction, “On-Us” ATM transactions (when customers use their...

First Bank has disclosed that its customers made transfers over 106 million times with a total value of about N8.18 trillion across its digital channels during the five weeks lockdown. The bank also recorded approximately 12.6 million withdrawals amounting to about N156 billion across its ATMs across the country. Equally,...

Fidelity Bank says it will continue to take measures that will ensure the safety of customers, staff and other stakeholders during the period of COVID-19. The bank, in a statement on Monday, said its Chairman, Mr Ernest Ebi, gave the reassurance at the bank’s 32nd Annual General Meeting (AGM) held...

  As against the trending news in the social media that Access Bank plc has concluded plans to sack 75 per cent of its work force, Business247News Online can authoritatively say the bank is not thinking along that line. A top management staff of the bank who is in the...

The Central Bank of Nigeria (CBN) has resumed the sale of foreign exchange to all commercial banks for onward sales to parents to pay schools fees and operators of small and medium scale enterprises (SMEs) wishing to make essential imports needed to revamp economic activities across the country. The apex...

  The Central Bank of Nigeria (CBN) has announced the lifting of suspension on cheque clearing by the Deposit Money Banks (DMBs). The apex bank stated this in a circular titled: “Temporary suspension of cheque clearing in the Nigerian clearing system’ to all DMBs and Nigeria Inter-Bank Settlement System issued...

  The Managing Director of Maxifund Securities Limited, Mazi Okechukwu Unegbu, has advised Nigerian banks to grant their debtors who had suffered huge losses in the aftermath of COVID-19, a generous leeway that would enable them to bounce back and be able to settle their credit obligations. Unegbu who is...

Access Bank Plc says it will reward 10 customers with N10 million in its May edition of DiamondXtra monthly draw. The bank’s Group Head, Retail Products and Segments, Adaeze Ume, disclosed this in a statement in Lagos on Monday. Ume said the bank would continue to deliver on its promise...

First Bank of Nigeria Limited has introduced palliative measures for customers to give them some relief, in view of the challenges of COVID-19 lockdown extension. Dr Adesola Adeduntan, FirstBank Chief Executive Officer, made the announcement in a statement in Lagos on Thursday. Adeduntan said the bank was introducing special waivers...