Skye Bank License Revocation: Nigerians react

Financial experts and shareholders on Saturday expressed mixed reactions over the decision of the Central Bank of Nigeria (CBN) to revoke the licence of Skye Bank. The stakeholders expressed their…

Press Statement on the Resolution of Skye Bank Plc

In continuation of the Central Bank of Nigeria (CBN) intervention in the distressed Skye Bank Plc., on the 4th July 2016, which was aimed at protecting depositors of that bank,…

CBN Takes Over Skye Bank, Changes Name to Polaris Bank

The Central Bank of Nigeria (CBN), has revoked the operating licence of Skye Bank Plc with immediate effect. CBN Governor Godwin Emefiele made this known during a press briefing in Lagos, Nigeria’s…

Customs seizes Smuggled Goods worth N81m

The Western Marine Command of the Nigeria Customs Service (NCS), Lagos, said on Thursday that it had seized contraband valued at N81 million in the last one month. Benjamin Binga,…

CBN gives $317.52m, CNY58.40m for agric, raw materials

The Central Bank of Nigeria (CBN), on Friday, provided 317.52 million dollars and 58.40 million Chinese Yuan (CNY) to customers seeking foreign exchange in the agricultural and raw material sector.…

CBN revokes Skye Bank’s Licence, Polaris Bank Takes Over Operations.

The Central Bank of Nigeria (CBN) Friday revoked the license of Skye Bank, and transferred its assets and liabilities to a newly licensed bridge bank called Polaris Bank. Governor of…

Malabu oil: Italian judge jails Nigerian, one other

An Italian judge on Thursday sentenced two defendants to jail in the first leg of trials of the biggest graft scandal in the global oil industry: the Malabu Oil $1.1…

NDIC Hosts IADI Africa Regional Committee Annual General Meeting and Technical Assistance Workshop in Lagos

The Nigeria Deposit Insurance Corporation (NDIC) will host the next edition of the International Association of Deposit Insurers (IADI) Africa Regional Committee (ARC) Annual General Meeting and Technical Assistance Workshop.…

CBN Injects Fresh $210m into Forex Market

The Central Bank of Nigeria (CBN) on Tuesday intervened in the interbank foreign exchange market to the tune of $210 million. According to the figures obtained from the CBN, it…