CBN anti-money laundering stress test reveals three loopholes in commercial banks
Latest report by the Central Bank of Nigeria (CBN) on systematic stress test carried out on 25 commercial banks has revealed three key loopholes that raise the vulnerability of banks in money laundering deals. Besides, the 2017 CBN Half-year Economic…
Social media visibility of federal MDAs dropping since Q1 as CBN, Presidency lead
A new report released by the Business Hilights Intelligence Unit (BHIU) on Tuesday in Lagos has revealed that “The social media visibility of leading ministries, departments and agencies of the federal government has been on the decline since the beginning…
Crownrise Finance boss reveals why over 1,000 finance houses collapsed in the 90s
The managing director of Crownrise Finance Limited, Mr. Babatunde Rufai-Lariba has revealed the factors that crashed over 1,000 finance houses during the 1990s in Nigeria. In an interview, he said during the period under review, “We had over 1,000 Finance…
Ahmed Buhari opens up on why he wants to be Nigeria’s president come 2019
…Three other presidential aspirants give their reasons too One of the youngest declared presidential aspirant, Mr. Ahmed Buhari (not related to President Muhammadu Buhari by any means as both are not from same state), has given insights on why he…
AMCON boss at Lecture, seeks CBN’s kind of monitoring on banks’ for local airlines
Barring any last minute change, airlines may soon be monitored the way and manner the Central Bank of Nigeria (CBN) is on the toes of banking institutions to avoid bankruptcy and collapse. Already, the Managing Director, Asset Management Corporation of…
Why CBN pegged daily money transfer via mobile phones at N100,000
Fresh details weekend, emerged on why the Central Bank of Nigeria (CBN) has set the maximum amount a bank customer can transfer via mobile phones using shortcodes at N100,000 in a day. A terse statement signed by Director, Banking and…
CBN dumps circulation of new lower denomination notes as mutilation deepens
During the midweek of last two months, the Central Bank of Nigeria (CBN) had responded to remarks by House of Representatives, who decried at plenary that lower denomination notes of Naira are becoming very dirty and can cause shocks in…
Nigeria’s bank-led mobile money scheme can’t grow beyond single digit—BHIU
Fresh revelations have opened up on why after about five years of operation in Nigeria; mobile money has only been able to attract just one per cent penetration as against the targeted 20 per cent growth on a yearly basis….
Sights and sounds of Nigeria economy last week ending April 21
The week started last week with the Central Bank of Nigeria (CBN) releasing its Consumer Expectations Survey Report for Q1-2018 which indicated that consumers’ overall outlook worsened in Q1-2018 with the index decreasing to -6.4 points (vs. 1.0 points in…
CBN, Adeosun in NASS net for buying $462m helicopters without approval in March
The Nigerian upper legislative chambers on Tuesday summoned the Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, Minister of Finance, Mrs Kemi Adeosun and her Defence counterpart, Mansur Dan-Ali to appear before it. The trio are to appear…
