The Central Bank of Nigeria, CBN, said it would publish the names of owners of unclaimed balances in dormant accounts that is being transferred to the Unclaimed Balances Trust Fund (UBTF) Pool Account. CBN disclosed this among other things in a statement titled: “Frequently Asked questions on the Guidelines for the management of dormant accounts, unclaimed balances and other financial …

The Naira yesterday depreciated to N1,603.8 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,603.8 per dollar from N1,586.71 per dollar on Wednesday, indicating N37.95 depreciation for the naira. The volume of dollars traded (turnover) in the market fell by 23.3 percent to $131.09 million …

The Naira yesterday depreciated to N1,575 per dollar in the parallel market from N1,565 per dollar on Tuesday. However, the Naira depreciated to N1,586.71 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,586.71 per dollar from N1,548.76 per dollar on Tuesday, indicating N37.95 depreciation for …

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has increased the benchmark lending rate to 26.75 per cent. The hike in the Monetary Policy Rate was disclosed by the CBN Governor, Dr. Olayemi Cardoso, at the end of the 296th MPC meeting in Abuja on Tuesday. The MPC had maintained a hawkish stance to tame inflation …

The Naira yesterday depreciated to N1,585 per dollar in the parallel market from N1,575 last week Friday. Similarly, the Naira appreciated to N1,500.32 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,500.32 per dollar from N1,596.92 per dollar last weekend, indicating N96.6 appreciation for the …

Fidelity Bank Plc has recorded an average annual profit growth of 64 per cent over the past three years, underlining its resilience as one of Nigeria’s fastest-growing companies. The bank has also seen rapid expansion in customer base and assets as its total balance sheet size leapt from N2.1 trillion to N6.2 trillion, the sixth largest in the Nigerian banking …

The Governor of Central Bank of Nigeria (CBN) Olayemi Cardoso has assured Nigerians of better days ahead, just as he declared that the planned stability will make Nigeria hit $1trillion economy latest by 2030. Cardoso outlined the CBN’s mandate and provided an in-depth analysis of Nigeria’s economic performance, recent policy measures, and the outlook for the remainder of the year …

THE Governor of Central Bank of Nigeria, CBN, Olayemi Cardoso has assured Nigerians of better days ahead. The apex bank on Friday rolled out indices that it said would signal improved growth and stability of the Nation’s economy. Speaking yesterday on Abuja during a statutory engagement with the Senator Adetokunbo Abiru, APC, Lagos East led Senate Committee on Banking , …

The Naira on Wednesday depreciated to N1,570 per United States dollar in the parallel market. from N1,550 per dollar on Tuesday. Similarly, the Nigerian currency depreciated to N1,581.65 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,581.65 per dollar from N1,576.66 per dollar on Tuesday, …

Against the background of groundswell of support and enthusiasm for the bank’s ongoing offers, Fidelity Bank Plc has started preparations to allow the bank to absorb oversubscriptions. With investors rallying behind the bank’s N127.1 billion combined rights and public offer, market pundits had indicated that the bank would raise more than the initial size of the combined offer. Reports have …