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Banking sector
Again, CBN Retains Interest Rate at 26.5%
BY NKECHI NAECHE-ESEZOBOR—–Nigeria’s apex bank, the Central Bank of Nigeria retained the Monetary Policy Rate (MPR), the country’s benchmark interest rate, at 26.5...
UBA Announces Tony Elumelu’s Retirement, Appoints Emmanuel Nnorom as Group Chairman
United Bank for Africa Plc has announced that Mr. Tony Elumelu, Group Chairman of UBA, will retire from the Board of Directors of...
CBN Revokes Licences of 46 Microfinance Banks
BY NKECHI NAECHE-ESEZOBOR—The Central Bank of Nigeria (CBN) has revoked the operating licences of 46 microfinance banks with effect from July 1, 2026,...
EFCC Cautions Banks Over Unsecured Loans, Insider Abuse Risks
BY SUNDAY SAMUEL—-The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede, has cautioned Nigerian banks against granting loans...
EFCC, CBN Boost Anti-Money Laundering Efforts in Enugu
The Economic and Financial Crimes Commission (EFCC) and the Central Bank of Nigeria (CBN) have reaffirmed their commitment to strengthening collaboration in Enugu...
