LAGOS JANUARY 11TH (NEWSRANGERS)-The Lagos Division of the Federal High Court has ordered all banks operating in Nigeria to blacklist media executive Nduka Obaigbena and members of his family over alleged debt to First Bank of Nigeria. The December 30, 2024, Mareva order also sought to prevent Mr Obaigbena from moving any assets linked to…
LAGOS MAY 26TH (NEWSRANGERS)-Nigerian banks require up to one month to provide customers with dollars for their offshore expenses, a move that will limit access to the currency at a time when the central bank is squeezing supplies to banks, industry sources said on Wednesday. Nigeria is facing chronic dollar shortages while rising demand has…
LAGOS FEBRUARY 5TH (NEWSRANGERS)-The Central Bank of Nigeria on February 5, 2021, released a statement signed by the Director of Banking Supervision Bello Hassan and the Director of Payments System Management Department Musa I. Jomoh, prohibiting financial institutions in Nigeria from dealing in cryptocurrencies or facilitating payments for cryptocurrency exchange. Meaning all trading of cryptocurrency…
LAGOS DECEMBER 3RD (NEWSRANGERS)-Banks in Nigeria sacked total of 2,929 workers in the third quarter of 2019 according to fresh data from the National Bureau of Statistics. The details are contained in a report on Selected Banking Sector Data: Sectoral Breakdown of Credit, ePayment Channels and Staff Strength data posted on the NBS website….
LAGOS NOVEMBER 8TH (NEWSRANGERS)-Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, has accused Western Union of defrauding Nigerians. Magu also said fear of the EFCC has curbed the waste of public funds and expensive lifestyles by public officers and Nigerians living abroad. “We have been able to curb excesses of Nigerians…