SEC Orders Freeze of Assets Linked to 9 Terrorism Financiers
By Oluwakemi Kindness The Securities and Exchange Commission (SEC) has directed capital market operators to freeze the funds, assets and economic resources of six individuals and three entities designated as terrorism financiers. SEC issued the directive in a circular on Friday to all Capital Market Regulated Entities (CMREs), citing the Terrorism Prevention and Prohibition Act, […]
CBN Revokes Licences of 46 Microfinance Banks
By Oluwakemi Kindness The Central Bank of Nigeria (CBN) has revoked the operating licences of 46 microfinance banks for failing to meet regulatory requirements, in a move aimed at strengthening the stability of Nigeria’s financial system. According to a statement on Wednesday by Hakama Sidi-Ali, Acting Director, CBN’s Corporate Communications Department, the revocation takes effect […]
Senate Confirms Yuguda as CBN Deputy Governor
By Anayo Akwitti Nigeria’s Senate on Wednesday confirmed the appointment of Lamido Abubakar Yuguda as Deputy Governor of the Central Bank of Nigeria, endorsing him as a fitting choice for the critical monetary policy role. The confirmation followed the presentation of a report by the Senate Committee on Banking, Insurance and Other Financial Institutions, which […]