CBN BEGINS DISTRIBUTION OF REDESIGNED NAIRA NOTES, LIST PENALTIES FOR ABUSE

The Central Bank of Nigeria (CBN) has begun distributing new naira notes to its branches around the country. The new currency will be delivered by the CBN to business branches across the country. According to Vanguard, the Director of Currency Operations, Bello Umar, made the announcement in Abuja. Umar said: “From Thursday, (today), we will start distribution to CBN branches across the country. So that whenever we are set to launch, maybe at a later date, we already have the notes across the country.” CBN Governor, Godwin Emefiele revealed that…

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GIANT TELECOMS PROVIDER MTN MOVES INTO BANKING, GETS CBN APPROVAL TO FLOAT ‘MOMO BANK’

The Central Bank of Nigeria has granted MTN Nigeria Communications Plc final approval to operate its Payment Service Bank. This is coming six months after the apex bank granted approval in principle to Airtel Africa Plc and MTN to operate PSBs. The CBN had, at the time, disclosed that the approval was subject to the fulfilment of certain conditions within six months. Based on this new approval, MTN’s Momo Payment Service Bank Limited can commence operations. This was revealed in a statement signed by the company’s secretary, Uto Ukpanah. The…

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FIDELITY BANK RESTATES SUPPORT FOR CBN FX REPATRIATION PUSH, SENSITIZES CUSTOMERS IN EMERGING OPPORTUNITIES IN NON-OIL EXPORTS

Fidelity Bank Plc, a leading Nigerian bank, has reaffirmed its commitment to actively support the Central Bank of Nigeria’s (CBN) efforts to achieve its goal of $200 billion in Foreign Exchange (FX) repatriation from non-oil exports over the next five years. The Executive Director, Northern Businesses, Fidelity Bank Plc, Hassan Imam made this known on Monday in Kano at a workshop for exporters and investors on the implementation and opportunities in the new CBN RT200 FX Policy. Imam stated that the financial institution would not relent in its efforts to…

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FIDELITY BANK RECEIVES AWARDS FOR ITS SUPPORT FOR THE REAL SECTOR

Top lender Fidelity Bank Plc, Nigeria’s fastest growing bank has been recognised for its efforts at growing the economy particularly its supporting the real sector   The bank received 2 awards to the effect at the 11th Annual Bankers’ Committee Retreat which held at Ogere, Ogun State last weekend. The awards were bestowed on the bank for its leadership role in the ongoing efforts to strengthen Nigeria’s agricultural value-chain as well as its staunch  commitment to promoting women economic empowerment. Organised by the Central Bank of Nigeria (CBN), the two-day retreat…

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