MONEY MARKET

By Niyi OLAOYE The Federal Government has directed the Financial Reporting Council of Nigeria (FRC) to investigate bank on Aviation Intervention funds given to banks. The directive which was convened by Senate Committee on Trade and Investment Chaired by Mrs. Fatima Raji Rasaki, to FRC management during a courtesy visit...

Niyi Olaoye Following the United Kingdom’s surprise vote to leave the European Union (EU), financial experts in Nigeria have said that the Britain’s decision to leave the EU could have a negative consequences on Nigerian economy considering its strong economic ties with Britain, as a member of the British Commonwealth....

Fidelity Bank Plc has appointed former CEO of Guinness Nigeria PLC Mr. Sene Adetu as an independent director. This is contained in a regulatory report filed by the bank with the Nigerian Stock Exchange on Tuesday Adetu’s appointment took effect from 22nd of April, 2016, following approval by the Central...

Central Bank of Nigeria (CBN) and Citibank on Wednesday executed the country's first naira-settled futures trade against the dollar, market regulator FMDQ OTC Securities Exchange said. On Monday the CBN introduced an over-the-counter futures market on the currency to help manage dollar demand, quoting the naira firmer at 279 to...

 By Niyi Olaoye The Central Bank of Nigeria (CBN) on Wednesday said  that the Bureau De Change (BDCs) operators in the country should not lose hope, as they are not forgotten in the new foreign exchange regime. Speaking at an interactive session between BDCs and CBN, Governor of CBN, Godwin...

The Nigeria Deposit Insurance Corporation (NDIC) said on Tuesday in its annual report that fraud cases in the banking sector increased by 15.71 per cent in 2015. The corporation explained that a total of 12,279 fraud cases were reported, representing an increase of 15.71per cent over the 10,612 fraud cases...

Niyi Olaoye The Nigerian Deposit Money Banks (DMBs) are now increasingly relying on various forms of incentives, such as cash reward  to woo new customers, in order to switch their everyday banking to them, Business247 revealed. Business247 gathered that at various banking halls across the nation, customers now meet a...

The Central Bank of Nigeria (CBN) has explained that in addition to the requisite Certificate of Capital Importation (CCI), all participating foreign portfolio investors (FPIs) in the over-the-counter (OTC) which takes off today under the new forex policy of the CBN must also present an OTC FX Futures Settlement Advise....

Niyi Olaoye 36 customers of Skye Bank Plc have won one million Naira each in its nationwide ‘Reach for the Skye’ Millionaire promo. The emergence of 36 millionaires ended the first phase of the millionaire promo. Sharing his experience as a beneficiary of the promo, Mr. Job Abiona Fatunbi, a...

By Niyi Olaoye The new President/Chairman of Council, Chartered Institute of Bankers of Nigeria (CIBN), Mr Segun Ajibola, has said that his administration would focus on a special platform through which the identified skills and knowledge gaps of industry practitioners at all levels can be bridged and to enhance the...