The Nigeria Deposit Insurance Corporation (NDIC) has announced plans to sell off properties and assets belonging to the defunct Heritage Bank in a bid to recover funds for uninsured depositors. This move, which the NDIC describes as crucial, is part of its statutory mandate as the liquidator of failed banks under Section 62(1)(d) of the NDIC Act, 2023. The exercise, …

The Naira yesterday appreciated to N1,720 per dollar in the parallel market from N1,725 per dollar on Monday. Similarly, the Naira appreciated to N1,671.32 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,671.32 per dollar from N1,676.9 per dollar on Monday indicating N5.58 appreciation for …

Polaris Bank’s commitment to digital innovation and excellence has once again been recognised, with the ‘Best Mobile App’ award for its renowned digital banking platform, VULTe. The bank got the recognition at the Digital Jurist Awards last Thursday in Lagos. The honour came less than a week after Polaris Bank was named ‘Nigeria’s Digital Bank of the Year’ for the …

The Naira yesterday appreciated to N1,730 per dollar in the parallel market from N1,725 perdollar on Wednesday. The Naira depreciated to N1,675.49 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,675.49 per dollar from N1,631.17 per dollar on Wednesday indicating N44.32 depreciation for the naira. …

The Naira yesterday appreciated to N1,725 per dollar in the parallel market from N1,730 per dollar on Monday. Similarly, the Naira appreciated to N1,630.45 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,630.45 per dollar from N1,670.65 per dollar on Monday indicating N40.2 appreciation for …

The Naira yesterday appreciated to N1,730 per dollar in the parallel market from N1,740 per dollar last weekend. However, the Naira depreciated to N1,670.65 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,670.65 per dollar from N1,600 per dollar last Friday, indicating N70.65 depreciation for …

Polaris Bank, Nigeria’s leading digital retail commercial bank, again at the weekend proved its digital dominance in the Nigerian banking industry, winning the most-coveted award as the best in digital banking and the entire ecosystem for Micro, Small and Medium Enterprises (MSMEs). At the Banks and Other Financial Institutions (BAFI) Awards, financial industry’s prestigious awards, Polaris Bank’s trailblazing digital banking …

In the race towards globalization and multiculturalism in modern economies, consensus is built around strategic thinking for the common good of the people. Conscious of the enormity of myriad of problems confronting the Nigerian economy, the Apex Bank, Central Bank of Nigeria (CBN) is strategising with focus on exploring the threshold of the problems with a defined trajectory of revamping …

Polaris Bank Limited, Nigeria’s leading digital retail commercial bank, has empowered more than 5,000 journalists across the country in the last 10 years, through its yearly media capacity building workshops. The 2024 edition of the media workshop, which held on Thursday in a hybrid format, focused on ‘Integrating AITools in Contemporary Media Practices for Innovation and Excellence’. Head of Brand …

The Central Bank of Nigeria (CBN) has dismissed reports that the old N200, N500, and N1,000 banknotes will cease to be legal tender by 31 December 2024. In a statement by the Acting Director of Corporate Communications, Mrs. Sidi Ali, the CBN refuted these claims, stating they are false and intended to disrupt the country’s payment system. Ali emphasized that …