Category: Banking
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Merger of Unity-Providus banks gets CBN’s nod
The Central Bank of Nigeria (CBN) has granted approval for a pivotal financial accommodation to support the proposed merger between Unity Bank Plc and Providus Bank Ltd.
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Dormant accounts: Customers throng banks after CBN’s directive
Bank customers have thronged their banks to reactivate their dormant accounts in line with the Central Bank of Nigeria (CBN) guidelines on the management of dormant accounts and unclaimed balances.
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BREAKING: Again, CBN hikes interest rate
The Monetary Policy Committee (MPC), on Tuesday announced another increase in the country’s Monetary Policy Rate (MPR), known as the baseline interest rate, to 26.75 per cent from 26.25 per cent.
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SEC approves Access Holdings N351bn rights issue
The Securities and Exchange Commission (SEC) has approved the commencement of the N351 billion rights issue capital raising programme of Access Holdings Plc.
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NOVA Bank commences operations as a national commercial bank
NOVA Bank, formerly known as NOVA Merchant Bank, has officially commenced operations as a National Commercial Bank, as the bank opened its first commercial banking branch at 18, Kofo Abayomi Street, Victoria Island.
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First Bank confirms appointment of Alebiosu as MD
FBN Holdings Plc has confirmed the appointment of Mr Olusegun Alebiosu as substantive Managing Director/Chief Executive Officer of First Bank of Nigeria Ltd, (FirstBank), one of its flagship subsidiary.
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CBN allays customers’ fears over safety of bank deposits
The Central Bank of Nigeria (CBN) has again reassured the banking public of the safety of their deposits and the banking system’s resilience.
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Fidelity Bank gets $40m support to acquire Union Bank UK
Afreximbank said it has disbursed 40 million dollars Intra-African Investment Facility to Fidelity Bank Nigeria Plc to support Fidelity Bank’s acquisition and recapitalisation of Union Bank United Kingdom.
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Heritage Bank customers besiege headquarters for payment
Customers of the liquidated Heritage Bank Plc gathered at the bank’s headquarters in Lagos on Wednesday, to seek clarification on the beginning of their deposit payments.
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No plans to revoke licences of more banks – CBN
The Central Bank of Nigeria (CBN) has said it has no plan to revoke the licences of more Deposit Money Banks (DMBs) in the country.