The Managing Director of Nigeria Deposit Insurance Corporation (NDIC), Bello Hassan, has predicted more microfinance banks will join National Association of Microfinance Banks Unified Information Technology (NAMBUIT) platform this year. Hassan made the prediction at the 2022 NDIC Editors Forum. The theme of the Forum is “Deposit Insurance System (DIS) and Financial System Stability’’, on […]
Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, says the apex bank has waived some of the conditions for accessing the new banknotes by commercial banks. He announced this at a sensitisation tour on the redesigned naira notes to the Computer Village, Ikeja in Lagos. Emefiele was represented by the CBN Director of Legal […]
The Financial Conduct Authority (FCA), a British financial watchdog, has fined a subsidiary of Nigeria’s Guaranty Trust Bank £7.6 million ($9.3 million) over allegations of money laundering. The FCA announced the fine in a statement, reported by Reuters on Tuesday. It stated that it imposed the fine due to failures in GTBank’s anti-money laundering systems […]
By Our Correspondent Managing Director of Nigerian Security Printing and Minting PLC (NSPM), Ahmed Halilu, has allayed the fears of some Nigerians on the quality of the new naira notes. Aliyu gave the assurance in a statement, on Friday, but made it available to The NewsZenith on Saturday. The assurance is in response to concerns […]
By Abdulwarees Solanke The mixed reactions that greeted the recent cash withdrawal limit policy proposal by the Central Bank of Nigeria (CBN) are understandable. This is because it hits a value system of liquid cash dependence. But it is not a new policy. About a decade ago, the Apex bank had come up with the […]
By Our Correspondent Mr Godwin Emefiele says the Central Bank of Nigeria (CBN) has already disbursed new naira notes to various commercial banks. Emefiele made the declaration on Thursday, after a visit to President Muhammadu Buhari in Daura, Katsina State. He noted that banks would begin to distribute the new notes to the public […]
By Our Correspondent The naira on Wednesday exchanged at 445.83 to the dollar at the Investors and Exporters window, depreciating by 0.01 per cent. This is against the N445.80 to the dollar it exchanged on Tuesday. The open indicative rate closed at N444.25 to the dollar on Wednesday. An exchange rate of N452 to the […]
By Oluwashina Iyanda President Muhammadu Buhari, on Wednesday in Abuja, unveiled the new naira notes as proposed by the Central Bank of Nigeria (CBN). Buhari unveiled the new banknotes before the weekly Federal Executive Council (FEC) meeting at the state house, Abuja. Governor of the apex bank, Godwin Emefiele, was in attendance during the ceremony. […]
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, on Wednesday announced plans by the Apex bank to redesign the N200, N500, and N1,000 notes. Emefiele made the announcement during a special press briefing in Abuja. He said that the redesign would take effect from Thursday, Dec. 15. He also said that existing […]
The International Fund for Agricultural Development (IFAD) has announced a $5 million additional grant for Nigeria on climate resilience and to boost dry season farming. IFAD said the fund, targeted at smallholder farmers, would help to improve production. Part of it would be used to plant trees to mitigate erosion in the event of a […]