Capital Market
“You cannot use cash to buy real estate”: CBN reacts to proposed investment and securities bill
The SEC proposed investment and securities bill (ISB) 2024 may have several provisions that violate existing money laundering laws, according to the CBN.
Nigerian oil companies with highest profits in 9 months, Seplat leads
About six Nigerian oil companies reported a whopping N464.6 billion profit in 2024, led by Seplat, TotalEnergies, Aradel, MRS Oil, Conoil, and Eterna.
More money for Otedola, Geregu Power investors as company's revenue skyrockets to N112 billion
Geregu Power Plc has generated a revenue of N112 billion from its operations in Nigeria, a double of what it generated in the same period in 2023.
CBN issues new directive to Access, Zenith, other banks on Forex compliance
The Central Bank of Nigeria has instructed banks and all other foreign exchange market participants to provide compliance reports for the FX Code.
Nigerian banks close over 23 million customers' accounts in one month
Nigerian commercial and merchant banks terminated 23.3 million customer accounts in July 2024, according to data from the Nigerian Interbank Settlement System.
Otedola tightens grip on first bank, spends over N16bn to buy more shares
Nigerian billionaire Femi Otedola has strengthened his position as the largest individual shareholder in First Bank of Nigeria Holdings following a new investment.
CBN speaks on safety of Access, Zenith, GTB, other Nigerian banks
The CBN governor, Olayemi Cardoso, has reassured investors and Nigerians of the banking sector's robustness and stability amid economic headwinds.
After buying banks in Tanzania, Uganda, Nigeria's Access Bank gets approval to acquire Kenyan bank
The COMESA Competition Commission has approved the planned acquisition of the National Bank of Kenya (NBK) by a major Nigerian lender, Access Bank.
"Impose appropriate sanctions": CBN threatens to sack bank chairmen, CEOs, gives reason
The CBN has ordered immediate removal of bank CEOs and chairmen who do not release their annual financial statements within 12 months of the year's conclusion.
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