Tag: #CBN
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NATIONAL INDUSTRIAL COURT FINES CBN ₦620,000 FOR DELAYING SUITS BY 62 FIRED STAFF
The National Industrial Court of Nigeria (NICN) has slammed a ₦620,000 fine on the Central Bank of Nigeria (CBN) for stalling the hearing of lawsuits filed by 62 disengaged employees challenging their termination. Justice Osatohanmwen Obaseki-Osaghae ruled after counsel for the ex-staff accused the bank of deliberately delaying proceedings by filing a late motion to…
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NIGERIA STOCK MARKET BOUNCES BACK AFTER SIX-DAY SLUMP WITH N94 BILLION GAINS
The Nigerian stock market showed signs of recovery on Tuesday, climbing by 0.10% and adding N94 billion to investors’ wealth after six consecutive bearish sessions. Driven by renewed interest in stocks including NCR Nigeria , Ikeja Hotel, Prestige Assurance, and Eunisell Interlinked, the market’s capitalization rose from N91.346 trillion to N91.440 trillion. The All-Share Index…
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NAIRA SHINES BRIGHTER, GAINING N15 AS IT CLOSES STRONGER AT 1,421.73 TO DOLLAR
The Naira extended its winning streak on Friday, ending the trading week stronger at N1,421.73 per dollar in the official foreign exchange market, according to data from the Central Bank of Nigeria (CBN). This marks a 1.07% or N15.23 appreciation from N1,436.97 recorded earlier in the week, continuing a steady upward trend that began Monday.…
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NAIRA APPRECIATES TO ₦1,452.79 AGAINST THE DOLLAR AS ECONOMIC CONFIDENCE GROWS
The Nigerian Naira continued its positive run on Monday, appreciating by ₦5.16 to trade at ₦1,452.79 to the dollar at the official foreign exchange market, according to the Central Bank of Nigeria (CBN). This marks a 0.35% gain from Friday’s rate of ₦1,457.95, extending the weeklong upward trend. The Association of Bureau De Change Operators…
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FCCPC APPLAUDS CBN DRAFT GUIDELINES FOR QUICK ATM FAILED TRANSACTION REFUNDS
The Federal Competition and Consumer Protection Commission (FCCPC) has warmly welcomed the Central Bank of Nigeria’s (CBN) draft guidelines that require banks to refund customers for failed ATM transactions within 48 hours. FCCPC’s Director of Corporate Affairs, Ondaje Ijagwu, revealed this in a statement following a recent Consumer Complaints Data Report. FCCPC’s Executive Vice Chairman,…
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WOLE SOYINKA CENTRE FOR CULTURE UNVEILED IN LAGOS
President Bola Tinubu reopened the renovated National Arts Theatre, now named the Wole Soyinka Centre for Culture and the Creative Arts, marking Nigeria’s 65th Independence. Funded by the CBN and Bankers’ Committee, the upgrade transforms the landmark into a world-class cultural hub integrated with Lagos’ Blue Line metro. Tinubu praised Soyinka’s contribution to nation-building and…
