The Central Bank of Nigeria (CBN) has forced Mr. Cosmas Maduka, the Managing Director of Coscharis group, out of his non-executive directorship position at Access Bank Plc. The CBN also fined the bank N3 million naira for serially violating lending rules which put the bank and its shareholders at risk. Mr. Maduka […]
Tag: Central Bank of Nigeria
CBN sets new deposit limit for account holders
The Central Bank of Nigeria (CBN) yesterday set new deposit limits for all categories of account holders and introduced three-tier Know Your Customer (KYC) requirements for banks. The policy pegs a maximum single deposit amount of N20,000 and maximum cumulative balance of N200,000 at any point in time on the […]
Again Nigeria’s Central Bank Retains Rate at 12%
By Our Correspondent Lagos (INVESTADVOCATE)-Again Nigeria’s Central Bank Monday retained its Interest Rate at 12 percent (12%) as part of the decisions taken at its Communiqué No. 87 of the Monetary Policy Committee Meeting of Monday January 21 2013. The CBN retained MPR at 12% with interest rate corridor of […]
