Dollar scarcity hits Nigerian banks
Bank customers are now unable to withdraw dollars from their domiciliary accounts amid worsened scarcity of the currency in the financial... ....[The Punch] »
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BDC operators import dollars from Ghana, Benin Rep, others
There are indications that Bureau De Change operators in Nigeria have been importing dollars from neighbouring Ghana, Benin Republic and others to make up... ....[The Punch] »
Forex ban: CBN to refund N35m caution deposit to BDC operators
The Central Bank of Nigeria on Friday said it would refund the N35m paid by licensed Bureau De Change operators across the country as mandatory caution deposit. ... ....[The Punch] »
Citi, Union Banks’ CEOs, others face N10.7bn fraud charges
A federal high court has ordered the chief executive officers of Citi Bank, Union Bank and 14 other persons to appear before it to answer criminal charges of fraudulent diversion of N10.7 billion... ....[DailyPost] »
Naira stabilises at N295/$
LAGOS — The Naira remained stable at N295 per dollar in the parallel market, yesterday, as Bureau de Change, BDC, operators await the release of modalities on how to source dollars... ...[Vanguard News] »
Naira firms up at parallel market
The naira yesterday made a sudden recovery in the parallel market, following the Central Bank of Nigeria’s (CBN’s) easing of forex policies. The naira appreciated to N295 against the dollar... ....[The Nation] »
Buhari copied Jonathan’s budget – Soludo
Former governor of the Central Bank of Nigeria (CBN), Charles Soludo has stated that the 2016 budget presented by President Muhammadu Buhari was almost the same as the one presented... ....[DailyPost] »
Naira exchanges N303/$, N405 pounds, N313 euro
The naira on Wednesday depreciated in value against other currencies across segments of foreign exchange (FX) market after the Central Bank of Nigeria (CBN) stopped FX supply to Bureau De... ...[BusinessDay] »
Naira at lowest level in 43 years, now N305/dollar
The financial sector appears to have entered a heightened pressure, yesterday, as both the foreign exchange and stock market sustained major negative trends. The post Naira at lowest level... ...[Vanguard News] »
Nigeria’s finance sector strong, stable –Lagarde
The Managing Director of the International Monetary Fund (IMF), Ms. Christine Lagarde, has affirmed that Nigeria’s financial sector is stable, firm and must be encouraged... ...[New Telegraph] »
IMF Boss Calls For Removal Of Subsidy, Review Of Tax Regime
The Managing Director of the International Monetary Fund (IMF) Christine Lagarde on Wednesday met with leaders of the National Assembly and called for the removal of fuel subsidy. Speaking... ....[Channels TV] »
Bank workers panic over looming retrenchment
Anxiety is rising among bank workers in the country as speculation mounts that the harsh business environment may result in massive job cuts in the industry.... ...[New Telegraph] »
Naira weakens against dollar at parallel market
The Naira depreciated by 0.8 per cent to exchange at N265 to the dollar at the parallel market.On Monday. The greenback lost N2 to the dollar from its weekend value of N263... ....[Daily Times] »
Banks to sack staff in second quarter –Rewane
Amid a worsening business environment, Deposit Money Banks (DMBs) may, “commence massive staff retrenchment in Q2 2016”, Managing Director, Financial Derivatives Company Limited (FDC).... ...[New Telegraph] »
Banks to lose N100b revenue as zero COT begins
Banks’ revenues will drop by about N100 bilion this year, with the implementation of the zero Commission On Transactions (COT) policy. It is the last phase of the “Guide to Bank Charges”... ....[The Nation] »
‘Manufacturers lost N1.5trn to delayed business activities in 6 months’
The Central Bank of Nigeria (CBN)’s foreign exchange restrictions have caused Nigerian manufacturers a total loss of N1.46 trillion in stalled business activities in the last six months... ...[BusinessDay] »
Two killed as robbers raid bank in Ekiti
Two persons were killed in Okemesi on Christmas Eve in Ekiti West Local Government Area of Ekiti State after a nine-man armed robbery gang attacked an old generation bank. The heavily armed men... ....[DailyPost] »
CBN suspends forex sale till Jan. 4
The Central Bank of Nigeria has suspended the sale of foreign exchange to Bureaux De Change operators till January 4, 2016. The suspension, a normal practice in the financial services sector... ...[Ships & Ports] »
Banks stop use of ATM cards abroad
Money Banks have commenced a process to stop all customers from using their payment cards, popularly known as Automated Teller Machine cards, for dollar-denominated... ....[The Punch] »