The Central Bank of Nigeria, CBN, has vowed to clamp down on currency hoarders and speculators whose activities affect the appreciation of naira against the US dollar. A source conversant with the CBN’s decision claimed that the speculators and hoarders are sabotaging the government’s efforts towards stabilising the local currency. NEWSEMBASSY recalls that following some…
Fidelity Bank has consummated its acquisition of the United Kingdom’s subsidiary of rival Union Bank, a deal first announced in August 2022. The buyout allows Fidelity Bank, which is aspiring to join the league of Tier 1 lenders in Nigeria, to expand beyond its base. It also draws the curtain behind Union Bank’s operations in the UK reaching…
The Director of Payment Systems Management of the Central Bank of Nigeria, CBN, Musa Jimoh, who doubles as the Chairman of Nigeria Electronic Fraud Forum NeFF, yesterday disclosed that accumulated Electronic Fraud E-Fraud within the banking sector and payment systems network has led to a loss of N9.5 billion so far in 2023. Jimoh, who…
DSS ,Department of state servic has picked up the Managing Director and Chief Executive Officer of Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), Abbas Umar Masanawa, NewsEmbassy has learnt. Although the reasons he was picked up by the operatives were yet to be ascertained, sources familiar with the matter said his arrest was…
World Bank Country Director, Nigeria Office, Shubham Chaudhuri, has lauded President Bola Tinubu’s reform policies. Chaudhuri, who commended the policies at a symposium on Thursday in Ibadan, however, called for speedy rollout of palliatives to cushion their effects on Nigerians. The symposium was organised by the Department of Agricultural Economics, Faculty of Economics and Management…
