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Tag Archives: Director-General of the Securities and Exchange Commission (SEC)

Cryptocurrency: CBN Pledges to Protect Nigeria’s Financial System

February 24, 2021 Banking and Finance, BUSINESS 0

The Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele says the Bank’s decision to prohibit deposit money banks, non-banking institutions, and other financial institutions from facilitating trading and dealings in cryptocurrency is in the best interest of Nigerian depositors and the country’s financial system. Mr Emefiele made the declaration …

FG Goes After N895 Billion Unclaimed Dividends, Dormant Accounts’ Balances

January 7, 2021 Banking and Finance, BUSINESS 0

Despite opposition from stakeholders, the federal government has perfected ways to borrow funds from unclaimed dividends and dormant bank account balances unattended to for at least six years, thanks to the 2020 Finance Act. With the coming into force of the law, which empowers the federal government to borrow from …