Banking
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Naira Gains 9.3% At Parallel Market Against Dollar (See New Rate)
Read More »Naira vs Dollar Nigerian currency, Naira has gained 9.3% as it strengthened to N435 to a dollar at the parallel market yesterday. This is against about N480 to a dollar it had been trading in the past days. However, this showed a gain of N45, representing about 9.3% rise. Currency dealers attributed the development …
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Stamp Duty: FG Has Collected N20bn From Banks In 2020
Read More »The total amount of N20 billion has been collected by The Federal Inland Revenue Service (FIRS) for stamp duty between January and June 2020. A compulsory charges of N50 stamp duty is charged on all deposits at Banks, and electronic transfers of naira-denominated current and savings accounts for transactions of 10,000 and above. …
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The Truth Behind Access Bank Alleged 340 Branches Closure
Read More »The alleged Access Bank of Nigeria on the closure of 340 branches across Nigeria and to sack a lot of workers has been addressed. On Saturday, the Managing Director of the bank, Herbert Wigwe allegedly to have announced the closure of over 300 branches nationwide via video conferencing in a town hall meeting …
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CBN Extends Minimum Capital Requirement Deadlines For MFBs
Read More »Central Bank of Nigeria, CBN, has extended the deadlines for compliance with the revised minimum capital requirements for Microfinance Banks. CBN has considered the impact of the Covid-19 pandemic on general economic activities to extend the deadlines for compliance with the minimum capital requirements for Microfinance Banks (MFBs) in Nigeria. CHECK ALSO: 3 Nigerian …
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Africa: Afreximbank Raises $3m Grant For Covid-19 Response
Read More »$3Million has been raised for African countries by Afreximbank in a way to fight Covid-19 Pandemic. The African Export-Import Bank, AFREXIMBANK announced a grant of $3million in order to complement African efforts to fight the Covid-19 pandemic. The of the bank, Prof. Benedict Oramah revealed this in Cairo, Egypt. He disclosed that the …
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3 Nigerian Banks Lower Dollar Spending Limit On Debit Cards
Read More »Three Nigerian Banks has reduced the monthly Dollar spending limit on debit cards due to the falling of cruide oil price and the suffering of Naira against Dollar. In response to the decline in dollar supply as well as rising demand, some banks, namely GTBank, Zenith, Fidelity reduced the monthly dollar spending limit on …
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Financial Results: Polaris Bank Records Impressive 2019
Read More »The financial results of Polaris Bank of Nigeria for the year 2019 are highly impressive. The Polaris Bank of Nigeria has released its 2019 financial results after securing the approval of the Central Bank of Nigeria (CBN) to its Annual Financial Statements for its first full financial year of operation. By all objective …
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How To Apply For CBN 50B Loan For COVID-19 Intervention
Read More »The Central Bank of Nigeria (CBN) has launched a Covid-19 Intervention loan of N50 Billion to support Nigerians and Businesses, see how to apply. COVID-19 intervention loan. In line with the ongoing world deadliest pandemic of our time, citing damages and losses suffered by businesses and lockdown has led the Central Bank of …
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CORONAVIRUS: GTBank Stops Repayment Of Loans For 90 Days
Read More »Guaranty Trust Bank also known as GTBank has announced its hold on loan repayment for all small and medium enterprises (SMEs) due to Covid-19 Pandemic. GTBank of Nigeria has placed a hold on its loan repayment plan for all Small and Medium Enterprises (SMEs) that have obtained credit facilities from the bank. The …