The Federal High Court sitting in Abuja has dismissed a suit instituted against the cash-less policy initiative of the Central Bank of Nigeria. In a suit filed on behalf of eleven Riverine Communities, challenging the policy which restricts cash withdrawals and lodgements to a daily limit, the judge, Honourable Justice […]
Tag: Central Bank of Nigeria
SGBN returns as HeritageBank
Tuesday, 19 June 2012 / John Omachonu & Onyinye Nwachukwu / BusinessDay Embattled Societe Generale Bank Nigeria (SGBN) Limited is to commence operations under a new name, Heritagebank, following approval by the Central Bank of Nigeria (CBN), which says the bank has met the financial requirements for returning to business. […]
External reserves drop to $36.93bn
Nigeria’s external reserves have continued to plummet in the last three weeks, dropping by $837m to $36.931bn on June 25, from $37.768bn it stood at June 6, 2012. Latest figures released by the Central Bank of Nigeria showed that the reserves fell by $837m in 19 days. Forex reserves had […]
