First HoldCo Plc (FirstHoldCo or the Group) has announced that its commercial banking subsidiary, First Bank of Nigeria (FBN), has successfully met the Central Bank of Nigeria’s (CBN) minimum capital requirement of N500 billion. This milestone was achieved following the completion of a series of strategic capital initiatives, including a Rights Issue, a Private Placement,…
Justice Hamza Muazu of the Federal Capital Territory, FCT, High Court Thursday, has ruled that he would wait for the decision of the Court of Appeal about three witnesses in the ongoing trial of a former Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, before allowing them to testify against the former governor….
Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos, on Friday, adjourned a forensic inspection of exhibit in the ongoing trial of former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, over an alleged $4.5 billion fraud to January 5 and 8, 2026. The inspection follows the prosecution counsel’s insistence at the…
The Central Bank of Nigeria (CBN) has disowned Zuldal Microfinance Bank (MFB) Limited, declaring that the institution is operating illegally and without regulatory approval. In a statement on Thursday, the apex bank said its attention was drawn to the activities of the company, which reportedly operates branches in Lagos, Abuja, Kaduna and Kano while claiming…
The Special Adviser to the President on Information and Strategy, Bayo Onanuga, has confirmed that the Minister of Finance and Coordinating of Economy, Wale Edun, is ill. He made this known in a statement on Sunday. Onanuga also.disclosed that the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, will be leading Nigeria’s delegation…
The Central Bank of Nigeria (CBN) has issued new restrictions on who can qualify to operate as Point of Sale (PoS) agents under its revised Guidelines for the Operations of Agent Banking in Nigeria, effectively barring individuals with unresolved debts, watch-listed Bank Verification Numbers (BVNs), or a history of financial misconduct from participating in the…
CSOs protest at CBN headquarters, accuse Sterling Bank of fraud, exploiting customers A coalition of civil society organisations (CSO) against Banks Fraudulent Practices and Customers Victimization, Wednesday, staged a peaceful protest at the Abuja headquarters of Central Bank of Nigeria (CBN) and an Abuja branch of Sterling Bank Plc. At the apex bank’s office, the…
The House of Representatives has resumed investigation into the utilisation of the sum of N1.12 trillion disbursed by the Central Bank of Nigeria (CBN) through the Anchor Borrowers Programme (ABP) to farmers across the country. Chairman, House Committee on Nutrition and Food Security, Hon. Chike Okafor, who spoke during the hearing in Abuja, said an…
Osun Gov, Ademola Adeleke A Federal High Court sitting in Osogbo has issued a restraining order against the Accountant-General of the Federation, the Central Bank of Nigeria (CBN), and the Attorney General of the Federation and Minister of Finance. The court order prevented them from opening local government accounts for a group of sacked council…
Emefiele A Former House of Representatives member, Gudaji Kazaure is in the net of the Economic and Financial Crimes Commission, EFCC, for allegedly receiving N70 million from the formal Central Bank Governor, CBN, Godwin Emefiele. It was learnt that Kazaure, who represented Kazaure, Gwiwa and Yan Kwashi constituencies in Jigawa state, was whisked away by…
