Category Archives: Markets

• CBN, Heritage Bank Partnership create jobs

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Heritage Bank Plc and Central Bank of Nigeria and Heritage Bank Plc N2billion long-term facility to Triton Aqua Africa Limited (TAAL) under the Commercial Agriculture Credit Scheme (CACS) has continued to boost job creation. Managing Director of Heritage Bank Plc, Ifie Sekibo, who disclosed this recently, led a team of the bank’s senior management on […]

SEC Dissolve,Replaces Ikeja Hotels Plc Board

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The Securities and Exchange Commission (SEC) has announced the dissolution of the board of Ikeja Hotels Plc due to unresolved internal crisis involving some majority shareholders of the company. The Commission explained that this proactive measure become necessary in order not to allow the warring parties take certain actions that would give them an advantage […]

Reps to CBN: Withdraw Mutilated Notes in Circulation

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naira notes

The House of Representatives has mandated the Central Bank of Nigeria (CBN) to immediately withdraw and destroy mutilated naira notes in circulation. The house also charged the National Orientation Agency to carry out sustained public enlightenment to educate Nigerians on the need to handle the naira notes with care. The resolutions followed a motion by Rep. […]

Heritage Bank Advocates Educational System Reform

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Heritage Bank Plc

Against the backdrop of a downturn in federal government’s revenue and the consequent reduction in federal investment in the education sector, Heritage Bank Plc has called for an urgent reform of the educational system in the interest of youths’ future. Group Head Treasury, of Heritage Bank, Mrs. Kehinde Wole- Olomojobi, made the call at an […]

Investor receives recovered N1.5m for Illegal sale of shares

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SEC PoliceUnit

The investor protection initiatives of the Securities and Exchange Commission (SEC) received a boost weekend, when an investor, Rev. Fr. Samuel Ukeje Ikechukwu whose shares were illegally sold received a cheque for the sum of N1.5m. According to Ukeje who is resident in Italy, he bought the Guaranty Trust Bank shares eight years ago through Cashville […]

NIBSS CEO Commends Growth of digital media for news dissemination

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shonubi

The Managing Director/CEO, Nigeria Interbank Settlement System (NIBSS), Ade Shonubi has reiterated the rising significance of digital or online media in financial news reporting, saying it is where the future lies. Speaking at the launch of Ficannews.com, an online news website published by Finance Correspondents Association of Nigeria (FICAN), the NIBSS boss praised the group’s […]

CBN Insists FX Policies will address Dwindling Earnings and Round Tripping

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godwin2

The Central bank of Nigeria CBN has called on Nigerians to be more patriotic; rather than engage in acts capable of undermining efforts by the apex bank at moving the country out of the current economic situation, This call, the bank noted became necessary following recent criticisms of the policies of the CBN governor, Godwin […]

SEC, EFCC sign MoU

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In order to ensure an effective policing of the capital market, the Securities and Exchange Commission (SEC) and the Economic and Financial Crimes Commission (EFCC) have signed a Memorandum of Understanding. The signing ceremony took place at the EFCC office in Abuja. The MoU serves to among others promote the efficient investigation and conclusion of […]

CBN bars banks from transactions in virtual currencies

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The Central Bank of Nigeria (CBN), has barred banks from any transactions in virtual currencies. Director, Financial Policy and Regulation department, CBN, Mr. Kelvin Amugo, who announced the ban said it was necessitated by money laundering and terrorism financing risks inherent in operations of virtual currencies. In a circular to banks and other financial institutions on […]

AfDB approves USD250m loan and EUR5m grant for rebuilding and stabilization in North East Nigeria

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The Board of Directors of the African Development Bank Group (AfDB), has approved a financing package comprising USD 150 million ADB Loan, USD 100 ADF Loan and the EUR 5 million RWSSI Grant Facility, to finance the Inclusive Basic Service Delivery and Livelihood Empowerment Integrated Programme (IBSDLEIP), in support of operationalizing the “Buhari Plan” for […]