The Central Bank of Nigeria (CBN) on Sunday expressed relief that Nigerians have fully embraced the introduction of Islamic banking years after speculations made the round that it was an attempt to Islamise the country This was disclosed by the CBN Governor, Yemi Cardoso, at a reception organised to honour the Secretary-General, Organisation of Islamic Cooperation (OIC) Arbitration Centre, Dr …

The Naira yesterday appreciated in the parallel market to N1,375 per dollar from N1,500 per dollar on Tuesday. The Naira was depreciated to N1,339.33 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,329.65 per dollar from N1,173.88 per dollar on Tuesday, indicating N155.77 depreciation for …

Fidelity Bank Plc complies with the highest corporate governance standards as the leading commercial bank adheres promptly to all full disclosure requirements and global best practices, according to the Nigerian Exchange (NGX). It said that Fidelity Bank is awarded CG+, the highest rank under the Corporate Governance Rating System (CGRS), which screens quoted companies against prescribed best practices and standards. …

The Naira yesterday appreciated in the parallel market to N1,500 per dollar from N1,525 per dollar on Monday. Similarly, the Naira appreciated to N1,339.33 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,339.33 per dollar from N1,481.23 per dollar, indicating N141.9 appreciation for the naira. …

The Naira yesterday depreciated in the parallel market to N1,525 per dollar from N1,520 per dollar last weekend. However, the Naira appreciated to N1,339.33 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,339.33 per dollar from N1,482.81 per dollar last weekend, indicating N143.48 appreciation for …

Shareholders have expressed readiness to massively support and mobilise for the ongoing recapitalisation of Fidelity Bank Plc amid commendations for the impressive performance of the bank over the years. Shareholders were unanimous that Fidelity Bank has shown strong resilience over the years and demonstrated its investors’ friendliness with significant dividends and capital gains. Under the auspices of Nigeria’s leading shareholders’ …

Nigeria recorded $204.47 million as letters of credit payments in the first quarter (Q1) of 2024. According to the international payments data obtained from the Central Bank of Nigeria (CBN) on Sunday, the figure recorded in Q1 represents a decrease of $344.75 million or 62.7 per cent compared to the $549.22 million reported in the same quarter in 2023. A …

No fewer than 200 officials of the Central Bank of Nigeria (CBN) were on Friday relieved of their duties, adding to the long list of ongoing disengagements in the apex bank. This adds to the list of 117 staff sacked by the bank between 15th March and 11 April 2024. The termination of appointments affects directors, deputy directors, assistant directors, …

Stanbic IBTC Bank Reward4Saving promo has rewarded over 1,600 customers with N262 million in less than three years. The bank explained that the objective of the promo, which started in 2021, is to foster the savings culture among Nigerians, by recognising and rewarding individuals who commit to building and maintaining consistent saving habits. As a testament to the credibility of …

The Naira yesterday depreciated in the parallel market to N1,515 per dollar from N1,495 per dollar on Wednesday. Similarly, the Naira depreciated to N1,485.66 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,485.66 per dollar from N1,462.59 per dollar on Wednesday, indicating N23.07 depreciation for …