Nigerian cable tycoon George Onafowokan expects rate cuts within two CBN meetings
George Onafowokan says the CBN could start cutting from 26.5% within two meetings, after Coleman spent $20 million generating its own electricity.
Central Bank of Nigeria
Access Holdings chairman Aig Imoukhuede’s Bidvest acquisition deal collapses
Access Bank deal to acquire South Africa Bidvest Bank collapses after deadline passes, with sources citing regulatory approval challenges.
Zenith Bank, led by Adaora Umeoji, plans forbearance exit in first half of 2025
The lender disclosed this in a statement filed on the NGX on Wednesday, reaffirming its commitment to meeting all supervisory requirements.
Nigeria’s central bank fines Paystack, co-founded by Shola Akinlade
CBN fines Paystack N250 million ($0.19 million) for allegedly running a wallet service via its Zap app, breaching its switching and processing license.
$9-trillion Wall Street giant lands in Nigeria following takeover of billionaire Adebayo Ogunlesi’s GIP
The strategic move comes in the wake of BlackRock’s announcement of its intention to acquire GIP in a deal valued at $12.5 billion.
Africa’s richest man Aliko Dangote loses $3.2 billion in a day as Nigeria’s currency plunges
The devaluation of the Nigerian currency severely impacted Dangote’s assets, including his 86-percent stake in Dangote Cement.
Controversy over First Bank of Nigeria’s clash with regulator stirs bank run
A bank run has started at First Bank of Nigeria after a recent scandal concerning its board of directors and the Central Bank.
Honeywell Group releases statement on recent First Bank loan controversy
The Central Bank has dissolved the defunct board of First Bank of Nigeria, expelling Honeywell Group founder Obafoluke Otudeko and Ibukun Awosika as chairpersons.
Central Bank of Nigeria dissolves First Bank board, expels Oba Otudeko
The Central Bank of Nigeria has dissolved the board of First Bank, citing insider abuse.
Nigeria’s First Bank fires CEO without regulatory approval
The Central Bank of Nigeria has queried First Bank over its abrupt removal of CEO Adesola Adeduntan.