Data breach: Zenith Bank says customers’ fund,account safe
The bank warned customers to ignore suspicious emails, text messages, and phone calls requesting sensitive banking information.
Banks & DFIs
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CPPE Calls for Reform of Nigeria’s DFIs, Cites Structural Weaknesses
The Central Bank of Nigeria should function primarily as a catalyst, refinancer and risk-sharing institution, while Development Finance Institutions and participating financial institutions handle credit appraisal, lending and loan recovery
Cardoso Urges Banks To Lend Out Idle Funds With CBN •Retains July MPR at 26.5%
“The committee’s decision to maintain the current policy stand follows a thorough assessment of the balance of risk,” said Cardoso.
UBA Designates Emmanuel Nnorom Board Chairman as Elumelu retires
Mr. Nnorom is a chartered accountant with over forty years’ experience in banking, finance and audit. He brings to the role extensive leadership experience and deep institutional knowledge of UBA.
CBN revokes 46 MFBs’ licences
The revocation was approved by the Governor of the Central Bank of Nigeria, Mr. Olayemi
Cardoso, following the banks’ failure to meet the regulatory requirements for continued
operation as licensed financial institutions.
JPMorgan names Doug Petno and Troy Rohrbaugh co-presidents as longtime exec Marianne Lake exits
As part of the changes, Petno becomes the sole CEO of the commercial and investment banking division, while Rohrbaugh will take over as CEO of the firm’s consumer and community banking division.
Naira Exchange Rates to Foreign Currency, Friday June 12
Black Market
US Dollar (USD) Buy ₦1,397 Sell ₦1,405
Great British Pound (GBP) Buy ₦1,850 Sell: ₦1,870
EURO (EUR) Buy ₦1,587 Sell ₦1, 607
Canadian Dollar (CAD) Buy ₦1,030 Sell ₦1,100
South African Rand (ZAR) Buy ₦75 Sell ₦90
UAE Dirham Buy ₦350 Sell
Bluecode Africa appoints Moghalu Nigerian Subsidiary’s Board Chairman
The appointment was jointly announced by Chris Pirkner, Founder of Bluecode, and Odin Krismayr, Managing Director of Bluecode Africa, who described it as a foundational governance decision for the company’s Nigerian and continental operations.
FCMB onboard Rewane to drive next phase of growth
Rewane is a respected economist and experienced leader in Nigeria’s financial sector, with more than 40 years of experience in macroeconomic research, investment banking, and strategic management.
CBN releases updated FX guidelines, approves export of $50,000
Any amount in excess of $10,000.00 but not more than $50,000.00 or its equivalent in other foreign currencies, provided the whole amount is declared at the point of exit.