Etisalat May Sell Nigeria Stake

Nigeria’s central bank and telecoms regulator agrees with local banks to pursue a default deal rather than a receivership for Etisalat Nigeria Abu Dhabi telecoms group Etisalat may sell its…

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FCMB says plans 7.5 bln Naira Tier-II debt issue

Nigerian bank FCMB plans to raise 7.5 billion naira ($25 million) in so-called Tier-II supplementary debt by year-end to strengthen its capital base, it said on Friday. The bank had…

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FX Trade Suspension: Bank Chiefs meet CBN

Nigerian Commercial Bank Executives are on Wednesday meeting officials of the Central Bank of Nigeria (CBN) on the suspension of some Nigerian banks from Foreign Exchange trade, Reuters news agency…

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Forex trade suspension: Investors dump shares of Diamond Bank, FCMB, First Bank, others

Investors sold shares in Nigerian banks on Wednesday, a day after the central bank suspended nine lenders from foreign exchange transactions for failing to remit money owed to the government….

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N108bn fraud: EFCC to seize Akpabio’s properties

The Economic and Financial Crimes Commission is intensifying investigation on ex-Governor of Akwa Ibom State, Sen. Godswill Akpabio. The EFCC is investigating allegations that the former governor embezzled N108bn during…

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FCMB plans capital raising of up to 15 bln Naira -CEO

Nigerian mid-tier bank FCMB plans to raise 10 to 15 billion Naira ($47 million) of Tier II capital to boost its balance sheet and will target its retail investors for…

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