Sponsored

Browsing Tag

Bank

Bank of America Freeze Accounts of Customers Over Citizenship Inquiries

The Bank of America in the United States is targeting some of its customers due to questions surrounding their legal status in the country. A report in The Miami Herald said Saeed Moshfegh, an Iranian student getting his Ph.D. in physics at the University of Miami, could not access his money earlier this month. Moshfegh, who has lived in the U.S. for the past seven years and who has recently married a citizen, acknowledged that he had to show proof of legal residency every six months in order to keep his account in…

CBN Injects $543m, CNY 63m Into Forex Market

The Central Bank of Nigeria, on Thursday and Friday, injected a total sum of $543.22 million and CNY 63.21 million into the inter-bank foreign exchange market. The CBN’s Acting Director, Corporate Communications Department, Mr. Isaac Okorafor, who confirmed the figures on Friday, said the latest intervention is to ensure the availability of foreign exchange to genuine customers. Okorafor said the Bank remained committed to maintaining the country’s external reserves to safeguard the international value of the Naira…

International Banker Awards: Keystone Bank Shines In London, Bags 2 Honours

Keystone Bank Limited shone brightly at the International Banker Awards, carting away two awards. The lender emerged winner for “Africa’s Best Customer Service Provider” and “Nigeria’s Most Innovative Retail Bank of the year, 2018”. The International Banker Awards is an annual event organized by the renowned International Banker financial magazine, one of the world’s leading sources of authoritative analysis on finance, international banking, and world affairs. Receiving the awards on behalf of the Bank at the…

CBN Deputy Governor Resigns

The Deputy Governor in charge of Operations at the Central Bank of Nigeria (CBN), Mr. Adebayo Adelabu, has resigned from the apex Bank. The CBN in a statement signed by its Acting Director Corporate Communications, Isaac Okorafor, said the deputy governor’s resignation will come into effect from July 15, 2018. Okorafor explained that President Muhammadu Buhari has formally accepted Adelabu’s disengagement from the apex Bank. In a letter dated May 24, 2018 and personally signed by Buhari, the President thanked Mr.…

CBN Mandates Banks To Sale Forex To Travelers

The Central Bank of Nigeria has mandated all Deposit Money Banks (DMBs) to buy and sell foreign exchange to travelers, both customers and non-customers. The CBN gave the directive in a statement on Sunday, issued by Isaac Okorafor, it’s Acting Director in charge of Corporate Communications. According to the statement, all DMBs are to sale forex to travellers upon the “presentation of relevant, valid travel documents”. As part of the directive, the apex Bank also stated that henceforth, all Bureau De Change operators…

Police Arrest Prime Suspect In Offa Robbery

The Nigeria Police said on Monday that it has arrested two prime suspects involved in the robbery attack in Offa, Kwara State, recently. This is contained in a statement by Jimoh Moshood, police spokesman. The statement identified the suspects as Kunle Ogunleye (aka Arrow) and Michael Adikwu. Jimoh said Adikwu once served as a police corporal and spent some time in jail upon his dismissal from the Force. “Two out of the four gang leaders and principal suspects who were declared wanted and their pictures…

Retail SMIS Get $396.18m CBN Boost

The Retail Secondary Market Intervention Sales (SMIS) of the foreign exchange market has received a boost of $396.18million from the Central Bank of Nigeria (CBN). This was according to CBN’s Acting Director, Corporate Communications, Mr. Isaac Okorafor, who made the disclosure in a statement on Friday. Okarafor revealed that the latest figures released by the apex bank were targeted primarily at ensuring liquidity in the market as well as encouraging production and trade, particularly now that the focus was on the…

Forex Market Gets $210m Boost

The Central Bank of Nigeria (CBN) has released the sum of $210 million into different segments of the inter-bank Foreign Exchange Market. Isaac Okorafor, the CBN’s Acting Director in charge of Corporate Communications, who confirmed the figures on Wednesday, said the latest intervention was in line with the “Governor’s commitment to ensure liquidity in the market as well as reduce pressure on the naira”. A breakdown of the Bank’s latest round of intervention indicates that the CBN offered the sum of $100 million to…

CBN Boosts Forex Market With Fresh $195m

As part of efforts to sustain FOREX liquidity in the country, the Central Bank of Nigeria (CBN), has injected fresh $195million into different segments of the inter-bank Foreign Exchange Market. Isaac Okorafor, CBN’s Acting Director, Corporate Communications Department, made the announcement on Tuesday. Figures released by the Bank show it offered the total sum of $100million to the wholesale segment, while the Small and Medium Enterprises (SMEs) segment received the sum of $50 million. The invisibles segment, which…
Do NOT follow this link or you will be banned from the site!