Category Archives: Banking

How CBN caused recession of 2016, says Peterside

A foremost economist and chairman of ANAP Business Jets Limited has blamed the Central Bank of Nigeria (CBN) for causing the economic recession of 2016. Peterside who gave the anniversary lecture of the Nigerian Economic Summit (NES) in Abuja, said that

Shareholders condemn N499b fine on 12 banks over loan breach

Capital market shareholders have condemned the N499 billion fines slammed on 12 commercial banks by the Central Bank of Nigeria (CBN), for breaching the regulator’s directive on lending to the real sector, insisting the move is capable of shrinking the

FCMB pledges enhanced service delivery

First City Monument Bank (FCMB) has restated its commitment to attain the highest level of customer advocacy by leveraging on its solid business models, bespoke solutions, excellent service delivery, highly professional staff and technology to turn the aspirations of its

Cashless policy: Regulators, business community set for nationwide rollout

Baring any last minute disruptions in the implementation guidelines, Nigeria’s cashless Policy piloted by the Central Bank of Nigeria (CBN) would go live nationwide from March 31, 2020, after about eight years of clinical trials of its pilot phase. Through a

Corporate treasurers examine implication of CBN 5-year policy thrust

The Association of Corporate Treasurers of Nigeria (ACTN) at the weekend held its breakfast meeting in Lagos, with the theme “The Central Bank of Nigeria (CBN) 5-Year Policy Thrust: Implications for the Corporates”.    While speaking to members at the

59th Independence Anniversary: The lows, highs of Nigeria’s banking sector

As the nation marks 59th independence today, the fine engineered by Process and Industrial Developments (P&ID) Limited remains one of the biggest fiscal events that has ever threatened to reshape the future of this nation of more than 200 million people

Why CBN, banks initiated N22 billion creative scheme

Pursue development of 40-acre Park, theatre facelift The Central Bank of Nigeria (CBN), has said the N22 billion creative industry intervention is aimed at consolidating positive results already recorded in the struggle to reposition the economy, following the 2014 oil

Attempted e-payment fraud falls by 47.28%

The record of attempted fraud cases in the electronic payment system declined by 47.28 per cent in the second quarter of 2019. The Director, Payment System Management Department, Central Bank of Nigeria, Mr Sam Okojere, disclosed this during the second

Furore over CBN’s new cashless policy

Against the backdrop of the Central Bank of Nigeria’s directive for  immediate implementation of a cashless policy, the Nigeria Employers’ Consultative Association (NECA), has warned that the nation’s business environment was not yet conducive for the programme. Mr. Timothy Olawale, director-general

Fidelity, greenhill recycling support environmental sanitation

A waste management firm, Greenhill Recycling and Fidelity Bank Plc have organised an environmental clean-up exercise, in collaboration with the Lagos Waste Management Authority (LAWMA). The exercise was to commemorate the world sanitation day, as part of efforts to cater

Support FG in assets creation, CBN tells banks

The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday asked Deposit Money Banks in Nigeria to support the federal government in asset creation.He called upon the commercial banks to upscale their operational landscape by building capacity and digital

As monetary policy reaches its limits

Obinna Chima writes on the need for the federal government to develop initiatives to rejuvenate economic activities as monetary policy appears to have reached its limit at this point in time Last weekend, nine out of eleven members of the