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FINMA Implements New Fintech Rules in Circular On Public Deposits With Non-Banks

Culled—Proshare September 22, 2017/ILO Introduction The revised Banking Ordinance of April 30 2014 regarding new financial technology (fintech) regulations entered into force on August 1 2017. The revision reduced some… Read more »

Pre-MPC Communiqué Sept 25-26, 2017: CBN to Retain MPR at 14%-Report

September 22, 2017/Access Bank Plc Click here to download full PDF Copy of the Pre-MPC Communiqué The Monetary Policy Committee (MPC) of the Central Bank of Nigeria will hold its… Read more »

30 Ecobank Customers Rewarded With 15% Of Their Target Savings

September 22, 2017/Ecobank Nigeria 30 Ecobank Nigeria customers have been rewarded with 15% of their monthly contribution in their Target Savings Account with the Bank. The lucky winners emerged from… Read more »

The CBN’s New Confidence in FX Policy

Culled—Proshare September 21, 2017/FBNQuest Research Our chart captures exchange-rate movements over the past two years, marked initially by the fx scarcity triggered by the oil price slide in mid-2014. The… Read more »

Stamp Duties on Bank Deposits and Transfers: Are There Unresolved Issues?

Culled—-Proshare September 20, 2017/Deloitte This general rule is subject to some exceptions – such as receipts for transfer to self, transfers from savings accounts and receipts in respect of salaries… Read more »

Naira Depreciated To N370-$ Mid-August in the Parallel Market

Culled—Proshare September 20, 2017/FDC Exchange Rate The Naira depreciated to N370/$ mid-August in the parallel market as robust demand from users such as hajj pilgrimage and school fees weighed on… Read more »

FirstBank’s Customer Wins Grand Prize in Western Union Mega Promo

September 20, 2017/FirstBank Nigeria First Bank of Nigeria Limited has announced that its customer has won the grand prize of the just concluded Western Union Mega Promo which took place… Read more »

Insider abuse: CBN probing bank directors, says Emefiele

September 20, 2017/Punch Oyetunji Abioye The Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, on Tuesday said the regulator was currently looking at some cases of insider abuse… Read more »

Alarm Bells As Current Account Surplus Narrows Again

Culled—Proshare September 19, 2017/ARM Research Higher Import and Service Deficit Surge Trim Surplus The blue ink in Nigeria’s current account (CA) narrowed from a surplus of $2.7 billion in Q1… Read more »

Growth in Money Supply Falls below Targets

Culled—Proshare September 18, 2017/FSDH The monetary aggregates (narrow money and broad money) as at July 2017 show that the annualised growth rate in money supply is below the target that… Read more »