23

Sep

Nigerian banks suspend naira card transactions abroad

Nigerian Banks have announced temporary suspension of overseas Automated Teller Machine (ATM) naira card transactions to preserve foreign exchange reserves. The CBN rate sheet showed the naira exchanges at N430/$1 at the Investors’ and Exporters (I&E) forex window while black market rate was at N710/$, creating N280/$ premium between both rates. Banks’ decision followed consistent dollar scarcity […]

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22

Sep

First Bank completes acquisition of Access Pension Fund Custodian Limited

First Bank of Nigeria Holdings Plc has notified the Nigerian Exchange and the investing public that First Pension Custodian Nigeria Limited, a subsidiary of First Bank of Nigeria Limited has completed the acquisition of 100% of the share capital of Access Pension Fund Custodian Limited from Access Bank Plc, having obtained the requisite regulatory approvals. The transaction[…]

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22

Sep

Access Holdings gets CBN’s approval to own a payment company

“Access Holdings Plc, trading as Access Corporation has announced that it has received the Central Bank of Nigeria’s final approval for its wholly owned payment subsidiary, Hydrogen Payment Services Company Limited. Hydrogen with a vision to be Africa’s most powerful business network will provide switching and payment processing services to financial service providers and other stakeholders. Speaking[…]

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