Deposits on foreign accounts now limited to 10,000 dollars only

Nigeria's Apex Bank,CBN has limited the amount of deposits on foreign accounts to ($10,000) monthly per customer. This was made known by text messages and mail recieved by some customers of certain banks.Below is what Stanbic Ibtc sent to a customerEsteemed Customer,Thank you for banking with us.We write to inform you that foreign transfers from domiciliary accounts on the back of funding through cash deposits is now restricted to a maximum of Ten...

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CBN reveals list of banks with the lowest and the highest lending rates

The Central Bank of Nigeria  (CBN) has released the list of Nigerian banks with the lowest and the highest lending rates.In the release, CBN unveiled the applicable rates for each of the deposit money banks (DMBs) as at September 30, showing the lowest and the highest rates from the 24 lenders.This unveiling showed that United Bank for Africa (UBA), Skye Bank, Access Bank, FCMB, Fidelity Bank, First Bank of Nigeria, Sterling Bank, and Wema Bank,...

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World Bank To give Nigeria $1.3BN to start up Development Bank of Nigeria

Nigeria has reached an agreement with the World Bank Group and other development partners for the release of $1.3bn for the take-off of the Development Bank of Nigeria.Mrs. Kemi Adeosun, the Minister of Finance, said this on Sunday in Washington DC, United States of America at the closing press conference marking the end of the World Bank/International Monetary Fund’s annual meetings.Adeosun, who spoke alongside the Governor of the Central Bank of...

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Bring Peace to Niger Delta Region and restore the oil production target of 2.2 million barrels per day - NASS Tells PMB

The National Assembly has called on President Muhammadu Buhari to engage in meaningful and inclusive dialogue with the aggrieved Niger Delta militants to avoid an escalation of the militancy in the region.The National assembly agreed that the government needs to ensure the protection of the nation’s oil and gas assets to facilitate increase in oil production and boost revenue therefrom.The House, in the motion, also adopted the 25 point resolutions...

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Sack CBN Gov, Emefiele Now – House of Rep Members Demand…Find Out Why

CBN Governor "Godwin Emefiele"The house of rep has demanded for the sack of The current CBN Governon “Godwin Emefiele” whose wife was rescued from the hands of the kjdnappers recently .In a motion entitled ‘Call for investigation of the Central Bank of Nigeria’s forex policies’, which was sponsored by Hon Ali Isa, some members of the federal house of representatives have today, October 5, called for the sack of the governor of Central Bank of Nigeria...

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