Court Denies Godwin Emefiele’s Request to Travel to UK for Medical Treatment
In a recent development at the Federal Capital Territory (FCT) High Court in Abuja, the request of former Central Bank of Nigeria (CBN) governor, Godwin Emefiele, to travel to the United Kingdom for medical treatment was turned down. The decision, handed down by Judge Hamza Mu’azu, followed objections from the Economic and Financial Crimes Commission […]
The Central Bank of Nigeria sold $122.671 million to 46 authorized dealers to stabilize the foreign exchange market.
The Central Bank of Nigeria (CBN) has executed a sale of $122.671 million to 46 authorized dealers aimed at enhancing stability and reducing volatility in the foreign exchange market. Dr. Omolara Duke, Director of Financial Markets at the CBN, reported that $67.5 million was allocated to 27 dealers, with an additional $55.171 million disbursed to […]
NDIC Pursues N700 Billion in Loans from Heritage Bank Debtors
The Nigeria Deposit Insurance Corporation (NDIC) has announced its intention to pursue debtors of Heritage Bank. The NDIC also stated it would compensate depositors of the now-closed Heritage Bank who have N5 million or less in their accounts. Appointed by the Central Bank of Nigeria as the bank’s liquidator, the NDIC plans to complete these […]
BREAKING: CBN Cancels Heritage Bank’s License
The Central Bank of Nigeria (CBN) has cancelled the operating license of Heritage Bank, a well-known commercial bank in Nigeria. This announcement was made in a statement released on Monday, June 3, by the Acting Director of Corporate Communications at CBN, Hakama Sidi Ali. Ali stated that the CBN, using its power under Section 12 […]