Guaranty Trust Bank Plc has announced that it has obtained the approval-in-principle of the Central Bank of Nigeria (the CBN) to commence the formal process of the re-organisation of the Bank to a financial holding company (the Restructuring). In a statement released and signed by the Company Secretary, the bank stated that the implementation will…
The Central Bank of Nigeria (CBN) has requested that all banks in the country should submit the statements of domiciliary accounts some high profile individuals, including owners of popular betting companies Nigeria. Baba Ijebu and Premier Lotto Founders who alongside some individuals recently had their company’s bank accounts frozen over forex infractions are part of…
In a bid to further support the real sector and unlock food potentials, Heritage Bank Plc in collaboration with the Central Bank of Nigeria provided N2billion long term facility under the Commercial Agriculture Credit Scheme to Triton Aqua Africa Ltd (TAAL). TAAL known as Triton Farm accessed the CACS through Heritage Bank, which is used…
Skye Bank Plc. has emerged “The Most Committed Watch Listing Bank in Nigeria” out of four corporate awards that were up for grabs at the Nigeria Electronic Fraud Forum (NeFF) Annual Dinner and Awards which held in Lagos recently. This was confirmed in an industry-wide survey administered by Central Bank of Nigeria (CBN), in conjunction…
The Central Bank of Nigeria, CBN, has reacted to a report by an online media, Sahara Reporters, claiming Heritage Bank was in distress. A statement issued by the CBN spokesman, Isaac Okorafor, maintained that Heritage Bank is sound and resilient. The apex bank described the report as “false and malicious”, urging depositors and the general…
The Central Bank of Nigeria (CBN), Heritage Bank Plc, Nigeria’s most innovative banking services provider and The National Youth Service Corps (NYSC) have disbursed a whopping sum of N774 million to 310 beneficiaries under the Youth Innovative Entrepreneurship Development Programme (YIEDP). Speaking at the flag-off ceremony for the disbursement of funds to young entrepreneurs under…
On Tuesday, the Central Bank of Nigeria, CBN, suspended nine banks in Nigeria from trading in the foreign exchange market. But the ban placed on one of the affected banks, the United Bank for Africa, UBA Plc, has now been lifted. UBA disclosed in an email on Wednesday night that it has now be readmitted…
The House of Representatives has expressed its readiness to liaise with the Central Bank of Nigeria, CBN, and other relevant agencies to ascertain the actual money realised so far from the implementation of the Treasury Single Account, TSA. This resolution was contained in a motion presented on the floor of the Assembly on Wednesday, which…
The newly introduced flexible exchange rate policy by the Central Bank of Nigeria, CBN, which will allow market forces to fix rate for Naira has commenced on Monday, June 20, 2016. The new regime was introduced last Wednesday by the government and from what Aproko247 gathered, the Naira is changing in the region of 270…
The decision of the Central Bank of Nigeria, CBN, to float the country’s currency last week has received the backing of the International Monetary Fund, IMF, which once advised Nigeria to take such decision last year. The CBN announced last Wednesday that the market will now determine the exchange rate for the Naira, a decision…