Business

CBN dissolves boards of Union, Keystone, Polaris Banks

The Central Bank of Nigeria (CBN) has announced the dissolution of the boards of directors of three major banks – Polaris Bank, Union...

Heritage Bank: Customers to receive payments within one week – NDIC MD

The Nigerian Deposit Insurance Corporation (NDIC) has assured depositors of Heritage Bank that their deposits are already being processed for payment. The Managing...

Nigeria’s current account balance surges by $1.43bn – IMF

The International Monetary Fund’s World Economic Outlook Database indicators have revealed that Nigeria’s current account balance recorded a surplus of $1.432 billion in...

Three Shell companies in Nigeria, partners spent $42.2m on social investment in 2023

Three Shell companies in Nigeria, partners spent $42.2m on social investment in 2023 The three Shell companies in Nigeria and their partners spent...

Heritage Bank liquidation: NDIC spells out fund retrieval process for customers

The Nigeria Deposit Insurance Corporation (NDIC) has commenced the liquidation of Heritage Bank and announced the fund retrieval process for customers. Persecondnews recalls...

Update: CBN revokes Heritage Bank’s operating license, appoints NDIC as liquidator

The Central Bank of Nigeria (CBN) has revoked the license of Heritage Bank Plc with immediate effect. The Acting Director of Corporate Communications...

Q1 2024: FBN holdings flaunts impressive performance, posts N238.53bln profit before tax

With its impressive performance as one of the oldest banks in Nigeria sustaining its fundamentals amid domestic and foreign challenges, FBN Holdings Plc...

Naira surges by 9.68% at the official window, closing at N1,339.33/$1

The Nigerian naira appreciated significantly against the US dollar on Monday, closing the day at N1,339.33/$1 in the official foreign exchange market. This...

UBA at 75: It’s testament to resilience, innovation, remarkable financial strength – GMD

In its 75 years of operation, the United Bank for Africa (UBA) has shown extraordinary financial strength and endurance, according to Oliver Alawuba,...

Breaking: Emirates Airlines to resume operations in Nigeria Oct. 1

Emirates Airlines says it plans to resume operations in Nigeria on October 1, the nation’s Independence Day. The airline confirmed this latest development...

Western Digital launches SanDisk Desk Drive

Western Digital has launched the SanDisk Desk Drive, the latest addition tonits portfolio of external desktop SSDs. This new storage device is designed...

List of five charges Nigerians pay for electronic transactions

Following the latest directives from the Central Bank of Nigeria (CBN) authorizing banks operating in the country to start charging a cybersecurity levy...

Zenith Bank shareholders approve bank’s restructuring to holding company

“The Founder and Chairman of Zenith Bank Plc, Jim Ovia, expressed his delight at witnessing the transition of the bank to a holding...

UBA increases stake in Kenya, Uganda subsidiaries, eyes East Africa market

Pan-African banking group, United Bank for Africa (UBA) says it has acquired more stakes in its Kenyan and Ugandan subsidiaries in the wake...

CBN sells fresh dollars to BDCs at N1,021/$ as naira loses steam

The Central Bank of Nigeria (CBN) has issued another circular to Bureau De Change (BDC) operators, informing them that direct sales of US...

Naira bullish gains restore confidence among investors, businesses – CBN Gov. Cardoso

The Governor of the Central Bank of Nigeria (CBN), Dr. Yemi Cardoso, said Naira bullish gains will attract foreign investment and restore confidence...