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Business

First Bank Cancels Extraordinary Meeting Amidst MD’s Resignation

First Bank Holdings Plc has cancelled its extraordinary general meeting amidst the resignation of its Managing Director, Adesola Adeduntan, from his role eight months...

Business

GTBank To Raise $750m From Bond, Shares For CBN’s New Capital Requirement

Nigeria’s first-tier lender, Guaranty Trust Holding Company Plc is seeking shareholders’ approval to raise $750m (N922.5bn at N1230/$) capital to meet the new capital...

Business

Nigeria’s Tier-One Banks Battle For Dominance As Assets Hit All-Time High Of N94trn

Nigeria’s tier-one banks have set a new record by growing their assets to N94.22tn which is the equivalent of $76.6bn (N1,230/$), defying expert predictions.THE...

Business

Why We Excluded Retained Earnings From Banks Capitalisation Requirement- CBN

The Director of the Financial Policy and Regulatory Department (FPRD) at the Central Bank of Nigeria (CBN), Haruna B. Mustafa has said that the...

Business

BDC Operators Count Losses As Dollar Crashes To N1,130

Bureau de Change operators in Nigeria are counting losses after the naira gained N770 between February 21 and April 9, 2024.At the BDC segment...

Business

JUST IN: CBN Crashes Dollar Further To N1,117.5/$ With Fresh FX Sales To BDCs

The Central Bank of Nigeria has again crashed the dollar to N1,117.5 with another sale of foreign currency (FX) to Bureau de Change dealers.The...

Business

Nigeria’s Forex Reserves Lose $693.5m After CBN Resumption Of Dollars Sales To BDCs

Nigeria’s gross foreign exchange reserves have shed at least $693.5m since the Central Bank of Nigeria resumed the sale of dollars to approved Bureau...

Business

CBN Crashes Dollar To N1,269/$ At Black Market With $10,000 Sale To BDCs

The Central Bank of Nigeria has crashed the price of the dollar to N1,269 with the sale of $10,000 to all qualified Bureau De...

Business

Nigerian Stock Market Records N247bn Loss Amidst Bullish Naira

The Nigerian stock market depreciated by 0.42 per cent resulting in N247bn loss by the end of the week amidst a rebound in the...

Business

Number Of Nigerians In Absolute Poverty May Double By 2050— CBN MPC Member

A member of the Central Bank of Nigeria’s Monetary Policy, Aloysius Uche Ordu has lamented that the number of Nigerians living in multidimensional poverty...

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