Deposit Money Banks

Two financial experts have commended the Central Bank of Nigeria (CBN) for its plan to further recapitalise Deposit Money Banks (DMBs) in the country. They gave the commendations in separate interviews with the News Agency of Nigeria…

Gbenga Shobo has exited his role as the Deputy Managing Director of First Bank of Nigeria (FBN), the financial institution has disclosed. Shobo joined First Bank’s board in 2012. Prior to his appointment as Deputy Managing Director, he was…

A chieftain of the All Progressives Congress (APC), in Zamfara State, Alhaji Sani Abdullahi Shinkafi, has urged the Federal Government to uphold the Supreme Court’s decision and allow Nigerians to use the old Naira notes alongside the…

Investigations have revealed that Deposit Money Banks (DMBs) have started receiving old N500 and N1000 notes again, Vanguard reports. Vanguard investigations have indicated that the banks have been receiving the old N500 and N1000 notes…

The Central Bank of Nigeria (CBN) has warned Deposit Money Banks (DMBs) to always observe due diligence and desist from all forms of malpractices in foreign exchange (FX) transactions. The apex bank gave the warning in a letter by…

Babajide Okeowo In a bid to cushion the effect of the COVID-19 pandemic, the Central Bank of Nigeria (CBN) has directed all deposit money banks, DMBs in the country to restructure loan terms and tenors to households and businesses…

The Central  Bank of Nigeria (CBN) has that the nationwide implementation of the cashless policy will begin by March 2020. The apex bank said this in a circular to all Deposit Money Banks (DBN) in the country. It said that…

The Central Bank of Nigeria (CBN) on Tuesday released regulation for electronic payments and collections for public and private sectors in the country. The News Agency of Nigeria (NAN) reports that the regulation is a revision of the…

By Emeka Okoroanyanwu The Nigeria Deposit Insurance Corporation, NDIC has passed a vote of confidence on Deposit Money Banks, DMBs in Nigeria saying “the overall condition of DMBs in 2018 was relatively sound”. This was contained in…

At N2.158tn, currency-in-circulation, on month-on month basis, rose by 0.3 per cent at end-April 2019, the Central Bank of Nigeria has said. The apex bank said this in its first quarter report on currency-in-circulation…