Central Bank of Nigeria (CBN) has issued new guidelines that will require banks and other financial institutions to deploy automated systems to detect and report suspicious transactions as part of efforts to strengthen the fight against money laundering and terrorism financing. In the circular issued by the regulator, it said the standards are meant to…
The Managing Director of Dimension Data Nigeria, Gbenga Olabiyi, has said the capital raise of N20 billion by the company is focused on long-term value creation in deepening digital infrastructure. “Sustained infrastructure investment is essential to maintaining competitiveness and unlocking future growth. When deployed thoughtfully, infrastructure secures the business, future-proofs operations, and allows efficient scaling…
The Lagos Government has partnered Fidelity Bank Plc to foster entrepreneurship, spur jobs creation and boost economic growth. Governor Babajide Sanwo-Olu stated this during the official opening of the bank’s SME hub in Lagos. Speaking through the Secretary to the State Government (SSG), Barr. Bimbola Salu-Hundeyin, the governor said the government has been exploring private…
Nigeria’s apex bank has advised Nigerians in diaspora to channel their remittances home towards investment rather than consumption. Deputy Governor (Financial System Stability) at the Central Bank of Nigeria (CBN), Mr. Philip Ikeazor, gave the advice during a forum that focused on: “Optimizing Remittances to Nigeria: A Vision for the Future,” held with the Nigerian…
Fidelity Bank, African Export-Import Bank and agribusiness firm, JohnVents Industries have signed a $40m cocoa export deal at the Fidelity Bank International Trade and Creative Connect held in Houston, United States of America. According to a statement from the bank on Sunday, the signing of the $40m pre-export finance facility was held at the trade…
