The Nigeria Deposit Insurance Corporation (NDIC) has Commenced the Liquidation of Heritage Bank Plc in accordance with Section 55 sub-section 1 & 2 of the NDIC Act 2023, with immediate verification and payment of insured deposits to the bank depositors.
The Investment and Securities Tribunal IST has resolved 300 cases with market value of N1 trillion since its inception in 2003. Chairman of the tribunal Amos Azi who disclosed this in Abuja said the IST successfully adjudicated over some disputes
The UK Government has expressed commitment to support Nigeria develop its thriving capital markets and sees its Mobilising Institutional Capital Through Listed Product Structures (MOBILIST) programme as a strong basis for collaboration with Nigeria’s financial sector. Nigeria’s capital market can
The Central Bank of Nigeria (CBN) has concluded plans to double foreign-currency remittance flows through formal channels by granting 14 new International Money Transfer Operators (IMTOs) Approval-in-Principle (AIP). The Bank’s Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, stated
The Securities and Exchange Commission (SEC Nigeria) has issued New Rules on Issuance and Allotment by Private Companies Securities, declaring that unauthorized persons who issue or allot securities shall be liable to a penalty not less than N10 million in
The Nigeria deposit insurance Corporation NDIC has announced an increase in the maximum deposit insurance coverage levels for all licensed deposit-taking financial institutions with immediate effect. Bello Hassan, Managing Director of the NDIC at a media briefing in Abuja say
The Association of Senior Civil Servants of Nigeria, Securities and Exchange Commission Unit has pledged to collaborate seamlessly with the new board under the leadership of board chairman, Mr. Mairiga Aliyu Katuka and Director General, Dr. Emomotimi Agama, to deliver
The Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Dr. Musa Adamu Aliyu, SAN has assured the Federal Inland Revenue Service (FIRS) that the Commission will assist the agency in tackling cases of tax evasion and
The Central Bank of Nigeria (CBN) has again offered for sale $10,000 to BDCs at N1101/$1. CBN in a letter to the President Association of Bureaux De Change Operators of Nigeria (ABCON) said that BDCs are in turn to sell
The Central Bank of Nigeria has banned the use of foreign currency-denominated collaterals for Naira loans is. The regulator in a letter to all banks said it observed the prevailing situation where bank customers use Foreign Currency (FCY) as collaterals
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