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Tag Archives: CBN

CBN Sustains FOREX Liquidity


The Central Bank of Nigeria (CBN), in continuation of its efforts to sustain FOREX liquidity in the country, on Tuesday, October 3, 2017, intervened in the inter-bank Foreign Exchange Market to the tune of $195million. Figures released by the Bank show that it offered the total sum of $100million to the wholesale segment, while the Small and Medium Enterprises (SMEs) segment ...

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CBN Injects $308.5m into Foreign Exchange Market


CENTRAL Bank of Nigeria (CBN) continued its sustained liquidity injection to the foreign exchange market, with another $308.5 million on Friday. This move is expected to further ensure liquidity and stability in the FX market. It will be recalled that the Bank opened the week with a boost of $195 million ahead of Monetary Policy Committee decisions. A total sum ...

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Oil Marketer Drags Federal Government to Court Over Alleged Discriminatory Forex lntervention Policy

In a bid to forestall the continued implementation of alleged discriminatory Forex investment Fund policy to the advantage of some importer of Petroleum products, an independent Oil marketer in the down stream sector SPOT MARKET OIL (OVERSEAS) LIMITED has dragged the Federal Government of Nigeria before a Federal high court in Lagos. Joined as co -defendants in the ensuing legal ...

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24 Winners Emerge in Heritage Bank Happy Days Promo-1


Heritage Bank Plc, Nigeria’s Most Innovative Banking Services Provider, has rewarded 24 loyal customers in its on-going Happy Days Promo with 42-inch LED flat screen TV at a monthly raffle draws held in Lagos yesterday. The bank recently launched the six-month promo to reward customers who made N20, 000 deposits into its account on a monthly basis with a 42 ...

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32 Skye Bank Customers Emerge Winners in Western Union Promo


Thirty-two lucky customers of Skye Bank Plc., across different business locationsof the Bank, have emerged winners in the on-going Western Union campaign. The winners who emerged through a raffle draw, won various prizes which include N60,000 worth of shopping vouchers for 10 Star customers who received and sent transfers through Western Union in Skye Bank; and N20,000 worth of shopping ...

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Keystone Bank, MD in trouble over N4bn illegal transaction


These are not the best of times for Keystone Bank Limited and its managing director/chief executive officer, Mr. Phillip Ikeazor as the House of Representatives on Monday urged the Economic and Financial Crimes Commission to commence investigation into an alleged illegal movement of N4 billion from the Industrial Trust Fund’s account domiciled with the lender. Rep. Ibrahim Baba, the Vice ...

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CBN Extends Stamp Duty Deduction To Savings Accounts


The Central Bank of Nigeria (CBN) has extended the deduction of stamp duty on deposits into savings account, investigation has shown. The Central Bank of Nigeria had through a circular issued on 15th January, 2016 directed the Deposit Money Banks to deduct N50 stamp duty on each deposit made into current accounts with a value of N 1000 and above ...

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CBN Awards Skye Bank for Fiight Against Electronic Fraud


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 with NIBBS. The prestigious award, ...

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Oyo State Awards Heritage Bank for Commitment to Women Empowerment

Mrs. Florence Ajimobi, Wife of the Oyo State Governor; representative of the MD/CEO of Heritage Bank Plc, Niyi Adeseun, Executive Director, Service Bank receiving an award from the 1st Lady of Zamfara, Hajiya Asma’u Abdul’aziz Yari Abubakar at the 5th Oyo State Officials` Wives Association (OYSOWA) National Women`s Summit 2016 held in Oyo State.

Pastor Omowumi Popoola, 1st Female SAN, Chief Folake Solanke; 1st Female Speaker of Oyo State House of Assembly, Senator Monsurat Sunmonu; 1stLady of Zamfara, Hajiya Asma’u Abdul’aziz Yari Abubakar; representative of the MD/CEO of Heritage Bank Plc, Niyi Adeseun, Executive Director, Service Bank; Mrs. Abimbola Fashola, Wife of Minister of Power, Works and Housing, Chief Onikepo Akande, President of LCCI and Miss ...

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N8bn CBN Currency Scam: Banker Bags Seven And Half Years Imprisonment


Justice Emmanuel Ayo Nathaniel of the Federal High Court sitting in Ibadan, Oyo State on Wednesday, December 14, 2016 convicted and sentenced one Tope Akintade, a former staff of Ecobank, Ibadan branch to two and half years imprisonment on each of the three counts of stealing and conspiracy pressed against him by the Economic and Financial Crimes Commission, EFCC. Akintade ...

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