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Emefiele: Nigerians to pay transport fares electronically

Nigerians will going forward, pay for both inter-city and intra-city transportation electronically, the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has said. Emefiele, who made this known at the… Read more »

Mainstreet raises Skye’s balance sheet to N1.5tn

Skye Bank Plc’s balance sheet has risen to N1.5tn, from N1.2tn, following the recent acquisition of Mainstreet Bank Limited. Similarly, the lender’s branch network is now 450 compared to 260… Read more »

Access, First Bank, GTBank, Zenith among World’s Top 500

By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-Access Bank Plc, First Bank of Nigeria Ltd, Guaranty Trust Bank Plc and Zenith Bank Plc are among the world’s top 500 banks, according to… Read more »

CBN Say Financial Exclusion Rate Decline 39.5%, Inaugurates Steering Committee

By InvestAdvocate Lagos (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) last Thursday said the rate of financial exclusion rate in Nigeria has declined 39.5 percent representing 36.9 million people as it… Read more »

Naira Gains 1.1% on CBN’s Intervention

By InvestAdvocate Lagos (INVESTADVOCATE)-Nigeria’s local currency, the naira on Friday gained 1.1 percent compared to the U.S Dollar on the Central Bank of Nigeria’s (CBNs) intervention and dollar sales by… Read more »

CBN outlines benefits of e-collection of revenue

The Central Bank of Nigeria has outlined the benefits of electronic collection of revenues for the federal and state governments, saying it will reduce the cost of handling cash among… Read more »

Foreign lenders reduce credit to Nigerian banks

Indications have emerged that a number of foreign banks have started suspending short and medium-term credit lines to their Nigerian counterparts as falling crude oil prices continue to fuel exchange… Read more »

Naira Closes at 211/ $1 in Parallel Market

By InvestAdvocate Lagos (INVESTADVOCATE)-The Nigerian local currency the naira on Wednesday closed at 211/$1 U.S dollar compared to N210 it traded on Tuesday at the parallel market (black market). Godwin… Read more »

$34 Billion Nigeria External Reserve, Adequate for FOREX Demands-Emefiele

By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-Godwin Emefiele, governor of the Central Bank of Nigeria (CBN) has said the current $34 billion Nigeria’s external reserve is adequate to meet all legitimate… Read more »

AMCON transfers Enterprise, Mainstreet banks to new owners

The Asset Management Corporation of Nigeria has transferred the ownership of Mainstreet Bank Limited and Enterprise Bank Limited to their new owners, Skye Bank Plc and Heritage Bank Limited, respectively…. Read more »