World News

Sola Adeduntan has been reinstated  as the managing director and chief executive officer of First Bank of Nigeria Limited by the Central Bank of Nigeria. CBN Governor,Godwin Emefiele, made the announcement in a press briefing on Thursday. He also announced the immediate removal of all directors of FBN limited and FBN Holdings. The CBN had also faulted the appointment of Abdullahi Ibrahim as deputy managing director, as well as the appointment of Ini Ebong, Segun Alebiosu, Seyi Oyefeso and Bashirat Odunewu, as executive directors. The apex bank, however, directed U.K Eke to remain the group CEO of FBN Holdings Plc.…

Stop hidden charges, exploitative marketing, Femi Gbajabiamila tells banks “You need to have marketing for people to know what you offer. If there are any abuses or conducts that are not ideal, they should be called out and addressed.” The Speaker of the House of Representatives, Rt. Hon. Femi Gbajabiamila, has expressed concern over the way Deposit Money Banks charge account holders indiscriminately, decrying that apart from known charges, there appeared to be other ‘hidden’ charges that banks imposed on their customers. Gbajabiamila, who noted that the House was concerned that such a practice was making customers helpless, called on…

CBN Governor reacts to currency printing, says Nigeria in unfortunate situation under Buhari Mr. Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), has admitted that the country’s economy is in bad shape under President Muhammadu Buhari’s regime. Against the backdrop of the worsening unemployment, inflation rate and rising debt profile, Mr Emefiele acknowledged that Mr Buhari had a precarious situation on his hand. “Nigeria is unfortunately in a bad situation in the sense that we are facing a problem about productivity output which is GDP. We are also confronted with the problem of inflation,” said Mr Emefiele. On…