First Bank of Nigeria Plc has announced its intention to seek the approval of its shareholders towards its emergence as a holding company. The bank in a statement on Monday, noted that it would hold a court-ordered Extraordinary General Meeting next month where shareholders of the bank would be expected […]
Author: InvestAdvocate
Nigerian naira firms on increased dollar flows
Nigeria’s naira strengthened against the U.S. dollar on the interbank market on Monday, supported by dollar sales by some local units of foreign banks selling to stay within their stipulated open position limits. The local currency closed at 157.90 to the dollar, the same level it was at last Wednesday […]
Senate directs CBN to suspend introduction of N5000 note
The Senate Committee on Banking, Insurance and other Financial Institutions on Monday directed the Central Bank of Nigeria (CBN) to suspend the introduction of N5,000 note until the Senate was properly briefed. The Chairman of the Committee, Sen. Bassey Otu (PDP- Cross River) issued the directive while speaking to newsmen in Abuja. Otu noted […]
