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 …

First Bank has announced plans to transition to a new cloud-based procurement and financial platform as part of its ongoing strategy to improve operational efficiency and service delivery. The migration, scheduled to begin on Saturday, 26 October, is expected to result in temporary service disruptions, the tier one lender with over 42 million customers said in a Wednesday notice. This …

Union Bank has set a new standard in Nigeria’s financial sector by offering unparalleled comprehensive maternity leave to support working mothers and an on-site crèche facility to support working parents. The scheme will benefit both male and female full-time employees. The initiative includes an industry-leading five months of fully paid maternity leave, exclusive of the applicable annual leave, and an …

As part of its ongoing commitment to continually empower the Nigerian media and enable it play the critical watchdog role in the society, Polaris Bank is organising an open workshop for all classes of journalist across the media spectrum. It is one of its critical Corporate Social Responsibility (CSR) interventions meant to positively impact key stakeholders. The 2024 media workshop …

The Central Bank of Nigeria (CBN) released $547.7 million (N823.19 billion at the official exchange rate of N1,503.3/$1, as of 30 June 2024) to Nigerians for the importation of food items in the second quarter of 2024. The amount is a reduction of $142.48 million or 20.6 per cent from $689.88 million recorded in the first three months of 2024 …