Tuesday, September 25, 2018

Tag "diamond bank"

    CBN ‘reviewing’ sanctions placed on MTN, four banks

CBN ‘reviewing’ sanctions placed on MTN, four banks

The Central Bank of Nigeria (CBN) says it is reviewing the recent sanctions placed on MTN and four commercial banks.In a statement released on Wednesday, the apex bank said the parties involved have submitted fresh documents in response to the sanctions.CBN had ordered MTN to refund $8.1 billion which it claimed the company repatriated using irregular certificates of capital importation.It [...]

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    MTN shares plunge to nine-year low after CBN sanction

MTN shares plunge to nine-year low after CBN sanction

Shares belonging to MTN have taken a big knock after sanctions by the Central Bank of Nigeria on allegations that the company illegally repatriated $8.1 billion.Early trading on the Johannesburg Stock Exchange saw the shares dip to 86.99 rand, a drop of 18% and its lowest level since March 2009.At the time of filing this report, the telecommunications company's shares [...]

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    CBN fines four banks N5.8bn, asks MTN to refund $8bn

CBN fines four banks N5.8bn, asks MTN to refund $8bn

The Central Bank of Nigeria (CBN) has ordered four banks to pay a total sum of N5.87 billion for allegedly issuing irregular certificates of capital importation (CCIs) on behalf of some offshore investors of MTN Nigeria Communications Limited.The apex bank has also written to MTN, asking it to refund $8 billion to the coffers of the central bank.The affected banks [...]

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    ‘Pay your taxes or we shut down your operations’ — 10 banks receive warning in Kaduna

‘Pay your taxes or we shut down your operations’ — 10 banks receive warning in Kaduna

The Kaduna state Internal Revenue Service says it will close the branches of 10 commercial banks who are owing taxes if they do not pay in one week.Francis Kozah, the legal adviser to the revenue agency, told NAN that the N2.3 billion was the total withholding tax the banks failed to remit between 2011 and 2016.The affected banks are United [...]

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    Diamond Bank closes UK operations to ‘focus on Nigeria’

Diamond Bank closes UK operations to ‘focus on Nigeria’

The management of Diamond Bank says it has disposed its entire shares in its UK subsidiary to a member of the GFG Alliance.This, it said, is in line with its objectives of streamlining its operations to focus its resources on the opportunities in Nigerian retail banking.According to a statement made available by Uzoma Uja, the company's secretary, the assets were [...]

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    Diamond recovers as Skye Bank continues on losing streak

Diamond recovers as Skye Bank continues on losing streak

Diamond Bank recovers for the first time in four trading days, after losing about 27 percent of its share value in the past three trading days.Skye Bank however continued on its losing streak for the fourth day after the Central Bank of Nigeria (CBN) dissolved the top management boards of bank.On Tuesday, Diamond Bank gained 3.78 percent, to close at [...]

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    Fitch Ratings back CBN, say Nigerian banks viable

Fitch Ratings back CBN, say Nigerian banks viable

Fitch Ratings, one of the three biggest rating agencies in the world, has downgraded two of the biggest banks in Nigeria, at the same time attesting to the viability of all Nigerian banks.Fitch downgraded First Bank and United Bank for Africa's (UBA) long-term foreign currency issuer default ratings (IDRs) to 'B' from 'B+'.Though the outlooks are stable, the agency [...]

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    After Skye, capital concerns sink Diamond Bank shares

After Skye, capital concerns sink Diamond Bank shares

Diamond Bank shares are plunging at the Nigeria Stock Exchange (NSE), falling for the third consecutive day.Traders say this is as a result of capital concerns, following the dissolution of Skye Bank’s board over the same reasons.On July 4, the top management of Skye Bank resigned in line with the decision of the Central Bank of Nigeria (CBN) to dissolve [...]

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    Inflation defies CBN, rises to three-year high

Inflation defies CBN, rises to three-year high

Nigeria’s consumer price index, which measures inflation, rose to its highest since December 2012, at 9.55 percent year-on-year against predictions by the Central Bank of Nigeria.The Apex bank had predicted early in 2015 that the nation’s inflation would range from six to nine percent in 2015.According to the Nigerian Bureau of Statistics (NBS), the inflation rose significantly due to pressure [...]

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    Diamond Bank: CBN will devalue naira to 227/$1

Diamond Bank: CBN will devalue naira to 227/$1

Diamond Bank, a Nigerian deposit money bank, has predicted that the Central Bank of Nigeria (CBN) will devalue the naira by at least 15 percent to 227 against the dollar in 2016.The bank said “with lower oil prices to persist and its implications on foreign reserves, further naira devaluation of 15 percent minimum is anticipated in 2016 at the official market”.“We expect [...]

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    Woman, 2-year-old child killed in FESTAC robbery

Woman, 2-year-old child killed in FESTAC robbery

A woman and her two-year-old child were among the four persons killed by armed robbers who operated at the 4th avenue area of FESTAC town, Lagos on Tuesday.The robbers numbering about 40 dressed in military uniforms and operated in the area unchallenged for two hours before escaping through the waterway.They broke into the branches of Access and Diamond banks in [...]

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See how much your bank paid for flouting CBN rules

Six commercial banks paid N392.77 million in fines to the Central Bank of Nigeria (CBN) in 2013 for contravening various aspects of Banks and Other Financial Institutions Act (BOFIA), it has been revealed.The penalised banks are Diamond Bank, Zenith Bank, Skye Bank, UBA, First City Monument Bank (FCMB) and Sterling Bank.According to NAN, a breakdown of the figures contained in [...]

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    Diamond Bank shareholders censure board over N7.99m CBN fine

Diamond Bank shareholders censure board over N7.99m CBN fine

Shareholders of Diamond Bank have expressed their dissatisfaction over the N7.99 million paid by the bank as penalties to the Central Bank of Nigeria (CBN) during the financial year ended December 31, 2013 for several infractions.The shareholders made their position known at the bank's 23rd Annual General Meeting (AGM) in Lagos today.A breakdown of the infractions showed that the bank paid [...]

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Exchange Rates

September 24, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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