The Central Bank of Nigeria (CBN) has clarified that it has not reinstated the cybersecurity levy that was previously suspended. The CBN had initially suspended the levy’s implementation following a decision by the Federal Executive Council (FEC). In May, the CBN had directed all banks in Nigeria to collect and remit a 0.5 percent cybersecurity … Read more
The Central Bank of Nigeria (CBN) has dismissed all executive directors of the Nigeria Incentive-Based Risk Sharing System for Agriculture Lending (NIRSAL) as part of a comprehensive restructuring at the apex bank. The decision, approved on Friday by CBN Governor Olayemi Cardoso, is the latest in a series of significant personnel changes since he took … Read more
President Bola Tinubu has approved the appointments of Rotimi Akinde and Ifeoma Uz’Okpala to the positions of Executive Director for Corporate Finance and Risk Management and Executive Director for the Large Enterprises Directorate, respectively, at the Bank of Industry (BOI). The bank spokesperson, Theodora Amechi, announced that these appointments are effective immediately. Akinde brings over … Read more
Olusegun Alebiosu appointed as acting Managing Director of First Bank of Nigeria. Former MD, Dr. Adesola Adeduntan, resigned after nine years of service. Alebiosu brings over 28 years of banking and financial services experience to the role. EKO HOT BLOG reports that First Bank of Nigeria Limited has announced the appointment of Olusegun Alebiosu as its … Read more
Nigerian Naira depreciates against US dollar, reaching N1,309.39 per dollar. Despite depreciation, trading volume surges to $857.78 million, doubling from previous day. Investor’s and Exporters’ window sees Naira fluctuating between N1,392 and N1,250 against dollar, amid market volatility. EKO HOT BLOG reports that the Nigerian Naira has witnessed a decline in value against the US dollar … Read more
Naira depreciates further against the dollar at N472.50. Governor of Central Bank of Nigeria, Godwin Emefiele, suspended; Deputy Governor (Operations Directorate) appointed as acting governor. $77.42 million traded at Investors and Exporters window. EKO HOT BLOG reports that Naira on Friday depreciated further against the dollar at the Investors and Exporters window, exchanging N472.50 to … Read more