• CBN suspends other banks, approves only First Bank for Forex sale to BDCs

    CBN suspends other banks, approves only First Bank for Forex sale to BDCs

    According to reports, the Central Bank of Nigeria (CBN) has suspended commercial banks in Nigeria except First Bank from selling foreign exchange directly to Bureaux De Change operators following their failure to comply with the July 22, 2016, directive to sell inflows from International Money Transfer Operators (IMTO) to BDC.

    The CBN Wednesday also suspended 195 BDCs from the market following their failure to renew their operating licenses.

    Banking sources told THEWILL that a circular on the development was sent to the […]

  • Students disrupt business at First Bank over missing fees

    Students disrupt business at First Bank over missing fees

    According to reports, the National Association of Nigerian Students on Tuesday disrupted business transactions at the First Bank of Nigeria, Zaria main branch, Kaduna State, over alleged missing registration fees paid by some students.

    Over 1,000 students of Federal College of Education, Zaria stormed the premises and claimed that they paid their registration fees at the bank in Sabongari area of the town.

    Addressing newsmen shortly after a meeting with the bank’s branch management and the police, the National President of the […]

  • Why I was detained by EFCC – First Bank director explains

    Why I was detained by EFCC – First Bank director explains

    The Executive Director in charge of Public Sector at First Bank, Mallam Dauda Lawal, yesterday opened up on his detention by the Economic and Financial Crimes Commission (EFCC) in connection with the investigation of former minister of Petroleum Resources, Mrs Deziani Alison Madueke.

    Lawal, in a statement in Abuja, admitted that he was actually queried on his relationship with Alison-Madueke, but denied the allegation that the former minister channelled $25 million for the purchase of a property through him.

    He said it […]

  • Banker docked at Lagos Court for defrauding First Bank of N4.1m

    Banker docked at Lagos Court for defrauding First Bank of N4.1m

    The prosecutor, Sergeant Nicholas Akpene, said the accused committed the ‎offence between April 18 and 26 during working hours at First Bank Plc, Ikeja Industrial Estate branch

    A former employee of First Bank of Nigeria, Timothy Adewale, who allegedly defrauded the bank to the tune of N4.1 million, was on Monday docked at an Igbosere Magistrates’ Court in Lagos.

    Adewale, 32, a former cash processor with the bank and a resident of 10, Ejalonibu Street, Oko-Oba in Agege area of Lagos State, […]