BUSINESS

Banks are in good stead to meet CBN’s recapitalisation target – ACAMB

Daily Dispatch April 2, 2024

The Association of Corporate & Marketing Communication Professionals of Banks (ACAMB) has assured the banking public that banks in the country have the wherewithal to meet the Central Bank of Nigeria (CBN) recent directives on recapilitalisation of the sector. The Association in a statement

BUSINESS

Recapitalisation: CBN, Law Enforcement Agents To Monitor Banks’ Compliance

Daily Dispatch March 30, 2024

The Central Bank of Nigeria is set to closely monitor the Nigerian banking sector’s recapitalisation alongside law enforcement agencies. This move is intended to prevent the influx of illicit financing into the sector. The Director of the Financial Policy and Regulation Department at the CBN, Haruna Mustafa, disclosed this in a circular on Friday. The […]

BUSINESS

CBN fixes banks’ new minimum capital base at N500Bn, gives 24 months deadline

Daily Dispatch March 29, 2024

Days after urging Nigerian banks to expedite action on the recapitalisation of their capital base in order to strengthen the financial system, the Central Bank of Nigeria (CBN) on Thursday, March 28, 2024, unveiled new minimum capital requirements for banks, pegging the minimum capital base for commercial banks with international authorisation at N500 billion. Confirming

BUSINESS

Bridging Energy Access Gap Vital for Nigeria’s Economic Growth, says NNPC Chief

Daily Dispatch March 28, 2024

The Nigerian National Petroleum Company Limited (NNPC Ltd) has emphasized the critical importance of bridging the energy access gap to the creation of economic prosperity of the country. The Group Chief Executive Officer of NNPC Ltd, Mr. Mele Kyari, made this submission in a keynote address on industry operations with the theme, “Stability in the […]

BUSINESS

NNPC Retail Limited clarifies price adjustment rumours

Daily Dispatch March 28, 2024

The NNPC Limited wishes to clarify rumours suggesting a price adjustment for Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel) at its retail stations nationwide. The company asserts that these reports are false and urges Nigerians to disregard them entirely. NNPC Ltd reaffirms its commitment to sustaining the current sufficiency in petroleum products supply […]

BUSINESS

CBN sells $10,000 to BDC at N1,251/$1

Daily Dispatch March 25, 2024

The Central Bank of Nigeria has issued a circular to Bureau De Change operators informing them of the sale of $10,000 to each BDC at a rate of N1,251/$1. This was contained in a circular signed by the bank’s Director, Trade and Exchange Department, Dr Hassan Mahmud, on Monday. The apex bank directed each BDC […]