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Business and Economy

Banks taxed 50% FX gains in proposed 2023 Finance Act amendment

NIGERIAN banks would be taxed 50 per cent of their recorded gains in "foreign exchange (FX) revaluation" in 2023,...
Harrison EDEH -
Banking and Finance

Four years after, CBN to sanction banks flouting loan-to-deposit ratio policy

THE Central Bank of Nigeria (CBN) says it will start to enforce sanctions on banks flouting its rules on...
Ehime ALEX -
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Banking and Finance

Two banks cross N1trn capitalisation mark as NGX gains 3.57%

TWO of Nigeria's banks have joined the league of companies with over N1 trillion capitalisation on the Nigerian stock...
Ehime ALEX -
Banking and Finance

Cash scarcity worsens despite CBN’s claim of N3.4trn in circulation

DESPITE withdrawal limits on cash policy enforced by most commercial banks,  the Central Bank of Nigeria (CBN) has said...
Harrison EDEH -
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Banking and Finance

CBN raises concern over cheque rejection, to penalise banks

THE Central Bank of Nigeria (CBN) has expressed worry over the increasing rejection of banks' cheques, threatening sanctions on...
Ehime ALEX -
Banking and Finance

Four banks rake in N774.46bn FX gains as CBN’s policy triggers manufacturers’ loss

FOUR commercial banks posted N774.46 billion in foreign exchange (FX) revaluation gains in the first six months of the...
Ehime ALEX -
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