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No plan to revoke Wema, Polaris, Unity, Fidelity licences — CBN

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The Central Bank of Nigeria has said there is no plan to revoke the licenses of Wema, Polaris and Unity Banks.
The acting Director of the Corporate Communications Department, Hakama Sidi Ali, made this clarification in a statement on Monday.
He reassured members of the banking public of the safety of their deposits and the banking system’s resilience.
Recall that a circular made the round on Monday suggesting that the Apex Bank has dissolved the boards of the three banks barely one week after revoking the license of Heritage Bank.

Written by: bossgmsi

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Federal, State, Local Gov’ts Share N1.143trn May Revenue

Federation Accounts Allocation Committee has shared the sum of ₦1.143 trillion to the three tiers of government. In a communique issued at the end of the committee’s meeting in Abuja yesterday's evening, indicated that the funds were from the month of May Federation Accounts revenue which stood at ₦2.324 trillion. The communiqué showed that the ₦1.143 trillion total distributable revenue comprised distributable statutory revenue of ₦157.183 billion, distributable Value Added […]

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