Financial Services
Banking, Insurance and general financial services news
NASS proposes N25 million fine for anyone operating unlicensed insurance business in Nigeria
The National Assembly of Nigeria has proposed a penalty of N25 million for individuals found operating unlicensed insurance businesses in...
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Bank Directors call on National Assembly to revisit 70% windfall tax, says it is ill-timed, burdensome
The Bank Directors Association of Nigeria, (BDAN) has called on the National Assembly to revisit the 70% windfall tax amendment...
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CBN resumes regular publications on Inflation, business expectations survey, others to promote transparency
The Central Bank of Nigeria (CBN) has announced the reintroduction of periodic reports on key economic indicators as part of...
Read moreDetailsCBN incurs N1.55 trillion interest from T-Bills sales in first half of 2024
The Central Bank of Nigeria has incurred an estimated N1.55 trillion in interest payments for the 12 successful Treasury Bills...
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Three MPC members vote to retain interest rate at 26.25% during July meeting
At least three members of the Monetary Policy Committee (MPC) voted to retain the Monetary Policy Rate (MPR) at 26.25%...
Read moreDetailsCBN and FBN Holdings urge Court to dismiss Barbican Capital’s suit over share dispute
The Central Bank of Nigeria (CBN) and FBN Holdings Plc have asked a Federal High Court in Lagos to dismiss...
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Court reverses TAJ Bank’s customers’ N139 Million ‘unlawfully’ credited due to system glitch
The Federal High Court, Abuja, has granted an interim freezing order against several accounts in Fair Money Micro-finance Bank Ltd,...
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Coronation’s pre-tax profit soars to N2.6 billion in the second quarter of 2024
Coronation Insurance posted a pre-tax profit of N2.6 billion in its recently published financial statement for the second quarter of...
Read moreDetailsNine firms purchase $25.76 million from CBN’s retail Dutch auction to repay loans
The Central Bank of Nigeria (CBN) conducted a Retail Dutch Auction on August 6, 2024, where nine companies purchased a...
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NDIC pays 82.36% of insured deposits to customers of liquidated Heritage Bank
The Nigeria Deposit Insurance Corporation (NDIC) has successfully paid 82.36% of the total insured deposits to customers of the now-defunct...
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