The Association of Securities Dealing Houses of Nigeria (ASHON) has expressed concern over the Central Bank of Nigeria’s (CBN’s) recent circular temporarily suspending dividend payments by banks. Mr Sam Onukwue, Chairman of ASHON in a statement on Tuesday, said that the directive, issued June 13, was said to ensure compliance with regulatory forbearance and Single…
The Federal High Court in Abuja, on Wednesday, dismissed a 990 trillion pounds suit filed by a claimant, Mr Tunde Omosebi, against the Central Bank of Nigeria (CBN) for being incomprehensible. Justice James Omotosho, in a judgment, also held that the suit filed by Omosebi to seek redress over alleged breach of his fundamental rights,…
The seventh prosecution witness, Mr John Adetola, told an Ikeja High Court that he did not document the alleged $400,000 he handed to the former Central Bank Governor (CBN), Godwin Emefiele. Adetola, an executive assistant to the former CBN governor, said this on Monday while being cross-examined by Emefiele’s lead counsel, Mr Olalekan Ojo (SAN),…
The Central Bank of Nigeria (CBN), has donated a motorised fire fighting vehicle to the Bauchi Commmand of the Federal Fire Service (FFS). Mr James Laburta, the CBN Bauchi Branch Controller, said this while presenting the equipment to the command on Tuesday in Bauchi. He said the gesture was part of its corporate social responsibility,…
The Central Bank of Nigeria (CBN), in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS) on Tuesday officially inaugurated the Non-Resident Bank Verification Number (NRBVN) platform in Abuja. According to the apex bank, this innovative digital gateway allows Nigerians in the diaspora to obtain a BVN remotely without the need for a physical presence in…
A Federal Capital Territory (FCT) High Court on Tuesday granted the Economic and Financial Crimes Commission (EFCC) leave to play compact disc as evidence in the trial of a former governor of Central Bank of Nigeria (CBN) Godwin Emefiele. Emefiele is being prosecuted before Justice Maryanne Anenih by the EFCC on a six-count charge in…
The Central Bank of Nigeria (CBN) has reaffirmed its commitment to maintaining a transparent and resilient financial system by reinforcing regulatory compliance and risk management across Nigerian financial institutions. Ms Shola Phillips, Special Adviser to the CBN Governor on Compliance was quoted to have said this in a statement on Sunday. Phillips spoke at a…
The Naira appreciated further at the official market on Monday, trading at N1,497.11 against the Dollar. Data from the Central Bank of Nigeria (CBN) website showed that the Naira gained N3.62. This marks a 0.24 per cent increase compared to Friday, Feb. 21, when the local currency closed at N1,500.73 to the Dollar. The Naira…
An Economic and Financial Crimes Commission (EFCC) witness, , Salawu Gana on Monday, told an Abuja High Court that the contract awards for vehicles purchased by the Central Bank of Nigeria (CBN) passed due process of procurement laws. Gana, who testified as the 10th witness (PW 10) admitted that quotations for supply of the vehicles…
The Central Bank of Nigeria (CBN) has announced the introduction of the Electronic Foreign Exchange Matching System (EFEMS), for Foreign Exchange (FX) transactions in the Nigerian Foreign Exchange Market (NFEM). According to a statement by Omolara Duke, Director, Financial Markets Department , the EFEMS will be implemented not later than Dec.1. Duke said that the…
