Business

The Central Bank of Nigeria (CBN) has put Deposit Money Banks (DMBs) on notice that it will stop selling forex to them by the end of 2022. The apex bank governor, Godwin Emefiele made this known in Abuja on Thursday, 10 February, at the end of the Bankers’ Committee Meeting where he also introduced the RT200 Programme. Emefiele said the time had come for the banks to go out there and source for forex by funding entrepreneurs with ideas, The Nation reports. The CBN, Emefiele said, will support the banks by granting rebates and other support until the banks find their feet in sourcing their forex by themselves. Emefiele also disclosed that the apex bank’s policies and measures have led to a significant improvement in diaspora inflow from an average of US$6 million per week in December 2020 to an average of over US$100 million per week by January 2022.…

The Guaranty Trust Holding Company Plc (GTCO Plc or the Group) (GTCOplc.com), a diversified financial services provider, today notified the Nigerian Exchange Group (NGX) and the investing public that GTCO Plc has concluded the acquisition of the 100% equity stake in Investment One Pension Managers Limited (IOPM) and Investment One Funds Management Limited (IOFM) (together, the Companies) held by Investment One Financial Services Limited (IOFS or the Seller).

On Thursday, 3 February 2022, Nigeria’s foremost theatre production company, Duke of Shomolu (DOS) Productions will host entertainment and corporate Nigeria at Southern Sun Hotel, Ikoyi, Lagos.

In a bid to recover alleged debt of N8,701,770,328.83, Ecobank Nigeria Limited has dragged a Lagos businessman, Mr. Victor Osibodu and his company Vigeo Limited before a Federal High Court, Lagos, Nigeria.