CABINET is deeply divided over the debt and arrears clearance strategy proposal currently under government consideration, as Zimbabwe battles to extricate itself from a huge debt trap.

The Central Bank of Nigeria yesterday drew the curtain on its special audit of banks with the release of the result of the last 14 banks examined and the subsequent sack of the managing directors of Bank PHB Plc, Francis

As the country celebrates its 49th independence anniversary today, President Umaru Musa Yar'Adua has said the ongoing banking reform is part of a holistic measure to achieve macro-economic stability and inspire the confidence of the international community.

An additional N200 billion may soon be injected into the banking sector by the Central Bank of Nigeria (CBN), which is also set to intervene in five more banks in a bid to safeguard the sector from systemic collapse.

The Bank of Namibia said this week that in line with developments in the global economy, the economy continued portraying mixed performances in the key sectors during the second quarter of 2009.

MBCA Holdings Limited, one of the four foreign-owned banks operating in Zimbabwe, on Mon-day raised US$10 million from a rights issue to recapitalise the group's commercial entity to meet the regulatory capital requirements set by the Reserve Bank of Zimbabwe

President Umaru Musa Yar'adua said the recent reforms embarked upon by the Central Bank of Nigeria (CBN) would entrench a financial system that inspires the confidence of the international community.

Economic and Financial Crimes Commission (EFCC) has recouped N108 Billion from debtors of the five failed banks in Nigeria.EFCC's Spokesman Femi Babafemi said yesterday the current figure was obtained by the close of work on Friday.

The Federal Government has said that the ongoing Central Bank of Nigeria (CBN) reform in the banking sector has no direct effect on the importation of petroleum products.

The Central Bank of Nigeria (CBN) said yesterday in Abuja that it may change the N1, 000 and N500 notes to polymer in future.CBN Governor Sanusi Lamido Sanusi said this while circulating the new 5,10 and 50 Naira Polymer banknotes

The Central Bank of Nigeria (CBN) has invited Chairmen and Managing Directors of five banks to a meeting today in Abuja following the outcome of the last audit conducted on the remaining 14 banks in the country.

As the Central Bank of Nigeria prepares to make its announcement this afternoon on the second round of intervention in five of the 14 banks for which it has concluded the special audit exercise commenced on the 14 last August,

The Central Bank of Nigeria is expected to sack the managing directors/chief executive officers of three banks any time soon as part of the ongoing efforts to sanitise the banking sector.

The debt of over N2.8 billion owed by South-West customers of the Nigerian Agricultural, Co-operative and Rural Development Bank Limited (NACRDB) has become worrisome to the financial institution.

CENTRAL bank is reviewing sections of the Financial Institutions Act 2004 to introduce Islamic banking in Uganda, Justine Bagyenda, executive director of supervision has said.

Despite harsh business environment in 2008, Mutual Benefit Assurance Plc as recorded an improved gross premium income in 2008 closing its books at N3.63 billion as against N2.21 billion in 2007 representing 64 percent improvement.

The Central Bank of Nigeria (CBN) has appointed four new executive directors for Oceanic Bank International Plc to boost ongoing efforts aimed at enhancing the bank's growth and profitability, a statement from the bank said.

The Central Bank of Nigeria (CBN) has said that it's not interested in keeping stakes the troubled banks in exchange for the recapitalization.CBN Governor Sanusi Lamido Sanusi who disclosed this in Abuja during the third Annual Banking and Finance Conference

Five more bank Managing Directors (MDs) could be sacked in the coming days, sequel to the audit the Central Bank of Nigeria (CBN) conducted in the 14 remaining banks, after the previous one in 10 banks which led to the

When Zenith Bank, Ojodu branch constructed the concrete slabs and metal cover within its premises for easy movement, residents were happy.