By Seun Ibiyemi The Debt Management Office (DMO) has commenced subscriptions for the July 2026 Federal Government of Nigeria (FGN) Savings Bond, offering investors returns of up to 15.716 per cent per annum, the highest interest rate on the retail bond programme so far this year. The offer, which opened on July 6, will close…
By Seun Ibiyemi United Bank for Africa (UBA) Plc has announced that its Group Chairman, Tony Elumelu, will retire from the bank’s Board of Directors on August 21, 2026, after completing the maximum tenure permitted under the Central Bank of Nigeria’s corporate governance regulations. The announcement was made on Monday following a meeting of the…
By Seun Ibiyemi The Nigerian naira maintained a stable performance against the United States dollar on Monday, trading at ₦1,370.33 per dollar at the Nigerian Foreign Exchange Market (NFEM), reflecting continued stability in the country’s foreign exchange market. Data from the official trading window showed the local currency holding steady as the Central Bank of…
By Seun Ibiyemi The naira posted a positive performance in the week ended Friday, July 3, 2026, strengthening against the United States dollar at the official foreign exchange market and maintaining relative stability in the parallel market, reinforcing growing confidence in Nigeria’s foreign exchange reforms. Data from the Nigerian Foreign Exchange Market (NFEM) showed that…
By Seun Ibiyemi The Naira traded relatively stable against the United States dollar on Thursday, maintaining its resilience across both the official and parallel foreign exchange markets amid sustained liquidity and ongoing reforms by the Central Bank of Nigeria (CBN). At the Nigerian Foreign Exchange Market (NFEM), the local currency traded at ₦1,374.18 per dollar,…
By Seun Ibiyemi The Naira recorded a slight appreciation against the United States dollar at the official foreign exchange market on Wednesday, closing at ₦1,379.68/$, compared with ₦1,383.62/$ recorded in the previous trading session. At the parallel market, the local currency traded at ₦1,390/$ for buying and ₦1,400/$ for selling, reflecting relative stability and maintaining…
By Seun Ibiyemi CBN Revokes Licences of 46 Microfinance Banks Over Regulatory BreachesThe Central Bank of Nigeria (CBN) has revoked the operating licences of 46 microfinance banks across the country for failing to meet key regulatory requirements, as part of efforts to strengthen the nation’s financial system and protect depositors. The apex bank announced the…
By Seun Ibiyemi The Naira recorded a mixed performance against the United States dollar on Tuesday, closing at ₦1,379.80/$ at the official Nigerian Foreign Exchange Market (NFEM), while trading at higher rates in the parallel market. Data released by the Central Bank of Nigeria (CBN) showed the local currency remained within the ₦1,370 to ₦1,380…
By Seun Ibiyemi Africa’s Global Bank, United Bank for Africa (UBA) Plc, has rewarded thousands of customers with more than ₦400 million in anniversary bonuses under its flagship UBA Bumper Account, reinforcing its commitment to customer loyalty and encouraging a stronger savings culture. The bank said the payout, one of the largest loyalty reward disbursements…
United Bank for Africa (UBA) Plc has reaffirmed its commitment to sustainability, employee well-being and community development by mobilising thousands of employees across its operations in 20 African countries for the latest edition of its flagship wellness initiative, “Jogging to Bond.” This year’s event coincided with the 60th birthday of the bank’s Group Managing Director…
