Access Bank restructures into holding company, acquires two foreign banks
...announces strategic acquisition & investment in Mozambique, South Africa to be Africa's gateway to the world
Nigeria’s…
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Holding Company: Sterling Bank obtains CBN’s approval in principle
Sterling Bank Plc. has obtained Central Bank of Nigeria’s approval in principle to restructure as a holding company.
The bank’s…
CBN Slices MPR to 11.5% from 12.5%
The Central Bank of Nigeria (CBN) has reduced the Monetary Policy Rate (MPR) to 11.5 per cent from 12.5 per cent.
This decision…
Why we slashed interest rate on savings deposit – CBN
On September 1, 2020, the Central Bank of Nigeria (CBN) in a circular signed by its Director of Banking Supervision, Mr Bello…
Three bank CEOs resign from NESG Board
Chief Executive Officers (CEOs) of three prominent banks have resigned their membership of the Nigerian Economic Summit Group…
CBN’s directive on power sector counterproductive – NUEE
The Nigeria Union of Electricity Employees (NUEE) says the Central Bank of Nigeria (CBN)’s directive authorising banks to…
CBN slashes Interest Rate on Savings Deposit to 1.25%
The minimum interest rate to be paid by deposit money banks (DMBs) in Nigeria to their customers for deposits has been reviewed…
9PSB set to commence operations after CBN approval
Following the approval by the Central Bank of Nigeria (CBN), Nigeria’s lifestyle and payment service bank, 9PSB (Payment Service…
Don’t give loans to customers – CBN Orders Payment Service Banks
Payment Service Banks (PSBs) operating in the country have been directed not to grant loans to their customers because they are…