Three bank CEOs quit NESG Board over stance on CBN’s economic interventions

CHIEF Executive Officers (CEOs) of three prominent banks have resigned their membership of the Nigerian Economic Summit Group (NESG) board. They resigned on Wednesday in protest against the NESG’s position against some of the measures taken by the Central Bank of Nigeria (CBN) to stabilise the financial system and fast-track economic recovery. The apex bank had also initiated a chain of policies to mitigate the … Continue reading Three bank CEOs quit NESG Board over stance on CBN’s economic interventions

E-LEARNING: First Bank Donates 20,000 Digital Devices to Lagos Public Schools

…Sanwo-Olu: ‘We’ve Found Real Partner In Actualising Our Education Vision’ Efforts by the administration of Babajide Sanwo-Olu to deliver quality learning to pupils across public schools in Lagos State got a boost on Thursday, as the State Government took delivery of 20,000 digital devices donated by First Bank of Nigeria (FBN) Limited to aid e-learning. The devices were personally handed over to Governor Sanwo-Olu by … Continue reading E-LEARNING: First Bank Donates 20,000 Digital Devices to Lagos Public Schools

Ex-Abia Governor Theodore Orji withdrew N500m monthly for Eight years aside other security expenses – EFCC

Almost five years after he vacated office, the Economic and Financial Crimes Commission (EFCC) is closing in on former governor of Abia State, Theodore Orji. Orji who served between 2007-2015, Sunday Sun learned, is currently under the radar of the anti-graft agency, which has allegedly traced billions of naira into bank accounts of his children. EFCC, acting on a comprehensive petition, dated March 17, 2017, and … Continue reading Ex-Abia Governor Theodore Orji withdrew N500m monthly for Eight years aside other security expenses – EFCC

Treasury bills: Investors defy interest-rate crash, invest N533.93bn

Investors have oversubscribed to the Treasury Bills auctioned by the Central Bank of Nigeria to the tune of N383bn (or 254 percent), despite a further crash in interest rates. The CBN recorded a total subscription of N533.93bn on the N150.6bn worth of treasury bills offered on Wednesday. Interest rates crashed further from 7.7998 percent, nine percent, and 10 percent recorded on the 91-day, 182-day, and … Continue reading Treasury bills: Investors defy interest-rate crash, invest N533.93bn

Businessman drags EFCC, NCAC, others to Court over freezing 12 bank accounts

A 54-year-old man, on Monday, sued the Economic and Financial Crimes Commission (EFCC) and the National Council for Arts and Culture (NCAC) over alleged unlawful freezing of his thirteen bank accounts. Mr. Nze Chukwumezie, Managing Director, Soka Comfortainment Limited, who is from Anambra, also sued the United Bank for Africa (UBA), First Bank of Nigeria (FBN), ECOBANK, Diamond Bank, Union Bank, Zenith Bank and Sterling … Continue reading Businessman drags EFCC, NCAC, others to Court over freezing 12 bank accounts

Bankers Committee, PenCom plan N2tr loan for RSA holders to acquire houses

Hopes of more Nigerians owning houses brightened on Thursday as the Bankers Committee of the Central Bank of Nigeria cementing a strategic partnership with the Pension Commission of Nigeria (PenCom) to earmark 25 percent of the N9 trillion Pension asset to assist Retirement Savings Account (RSA) holders acquire houses. The committee also disclosed that it was ready to disburse funds to players in the creative … Continue reading Bankers Committee, PenCom plan N2tr loan for RSA holders to acquire houses