Day: June 21, 2021

Naira losing strength as ex-CBN director faults new FX measures

The naira is losing its resistance against the dollar a few days after it gained some margin at the parallel market. At the weekend, the naira retreated to about N498/$ at the black market from 490/$ it sold on Thursday. The momentary gain for the local currency came after the Central Bank of Nigeria (CBN) …

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NDIC tackles rising fintech-induced risks in financial sector

Nigeria Deposit Insurance Corporation (NDIC) has stated that it is effectively collaborating with relevant stakeholders to manage risks arising from the growing adoption of financial technology (fintech) in the financial sector. At the 2021 retreat organised by the NDIC in Lagos, last week, Chairman of the board, Ronke Sokefun, said while banks are rapidly employing …

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SEC suspends Oando shares from stock market

The Securities and Exchange Commission has ordered the Nigerian Stock Exchange to suspend trading on the shares of Oando Plc. The commission said in a circular yesterday it had carried out a comprehensive review of the petitions by Alhaji Dahiru Barau Mangal and Ansbury Incorporated and made the following findings amongst others; Breach of the …

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