Union Bank of Nigeria has reassured its partners, customers and critical stakeholders of continued excellent service and seamless operations following the appointment of its Managing Director/Chief Executive Officer, Yetunde Oni, by the Central Bank of Nigeria (CBN). The bank assured its customers tha, as a long-standing financial institution in the Nigerian banking industry, it would continue to provide top-quality services …

The Central Bank of Nigeria (CBN) is set to transfer some of its departments to Lagos State. This was stated in an Internal memo made available to newsmen on Saturday. The move, according to an official of the CBN who spoke on condition of anonymity, is to decongest the apex bank’s head office. Although some staff members of the bank …

A few hours after dissolving the board of directors governing Polaris, Union, and Keystone banks, the Central Bank of Nigeria (CBN) has appointed new executive directors to oversee the affairs of the deposit money banks. In a statement by the acting Director of Corporate Communications, Sidi Hakama, on Thursday morning, the apex bank said the appointment takes immediate effect. According …

The naira has lost 26.36 per cent of its value against the dollar at the official Investor and Exporter window of the foreign exchange market since the Central Bank of Nigeria (CBN) announced it has cleared $2 billion as part of its backlog obligations. On Monday, the apex bank disclosed it paid $2 billion from the backlog of its forward …

Stanbic IBTC Holdings, a member of Standard Bank Group, has once again proven its commitment to delivering exceptional customer experiences by securing top spots in KPMG’s 2023 West Africa Banking Industry Customer Experience Survey. In the recently released survey results, Stanbic IBTC emerged as a leader in retail, SME and corporate segments, securing the prestigious top spot in the KPMG experience score in …

Access Holdings Plc and the First Bank of Nigeria Holdings (FBNH) have crossed N1tn market capitalisation at the close of Tuesday’s trading on the Nigerian Exchange Limited. They become the second and third lenders to achieve this feat in two days. United Bank for Africa (UBA) hit the N1 trillion market cap milestone on Monday. On Tuesday, AccessCorp and FBNH …

The Central Bank of Nigeria (CBN), says it has disbursed 61.64 million dollars to foreign airlines through various Deposit Money Banks (DMBs). According to a statement by its Acting Director of Corporate Communications, Mrs Hakama Sidi-Ali in Abuja on Sunday, the disbursement is in fulfillment of CBN’s commitment to eliminate the backlog of pending matured foreign exchange in DMBs. Sidi-Ali …

Cash withdrawals will not be possible from accounts opened for virtual and digital assets transactions, the Central Bank of Nigeria (CBN) has disclosed. Withdrawals from these accounts will only be possible by transfer or through a manager’s cheque, the apex bank explained. It revealed this in a new ‘Guidelines on Operations of Bank Accounts for Virtual Assets Service Providers’. According …

The Nigerian private sector returned to growth in December, with renewed increases in both output and new orders recorded amid some signs of recovery in demand. This was despite continued intense inflationary pressure, with purchase costs and selling prices each rising at sharper rates than in November. Meanwhile, business confidence dropped to the joint-lowest in the decade-long survey so far. …

Sterling Bank Limited has announced a strategic change in its Board of Directors, with Mr. Olatunji Mayaki assuming the role of Chairman of the Board effective 1st January 2024, following the resignation of Mr. Asue Ighodalo from 31st December 2023. According to a statement by the Company Secretary, Temitayo Adegoke, “the resignation of our erstwhile Chairman is in line with …