CBN/Commercial Banking - Abia ThinkTank News

Jun

2026

Signature Bank And Abia Funds: What The Available Facts Show – By Prof Chukwuemeka Ifegwu Eke

Abia State, CBN/Commercial Banking, Columns/Opinions/Letters, Good Governance

SIGNATURE BANK AND ABIA FUNDS: WHAT THE AVAILABLE FACTS SHOW The controversy around Signature Bank and its alleged connection to Abia State Government funds has continued to attract public attention. At the centre of the debate is the claim that the bank is being used as a preferred destination for major government accounts. However, the available clarification now in the public space presents a different picture. According to the information provided, the major Abia State Government accounts are reportedly domiciled in other commercial banks, not Signature Bank. The Federation Account Allocation Committee, FAAC, account is said to be with UBA.…

May

2026

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When A Bank Succeeds, Must The Critic Invent A Scandal – By Prof Chukwuemeka Ifegwu Eke

Abia State, CBN/Commercial Banking, Columns/Opinions/Letters, Good Governance

WHEN A BANK SUCCEEDS, MUST THE CRITIC INVENT A SCANDAL? Mr. Obinna Oriaku’s series of commentaries on Signature Bank is a classic example of how political bitterness can turn good news into forced suspicion.First, let us correct the careless figures.Signature Bank’s reported audited 2025 performance shows a Profit After Tax of ₦3.59 billion, up from ₦726 million in 2024, not ₦786 million as claimed. Its total assets rose to ₦224.7 billion, not ₦244.7 billion. Its gross earnings rose impressively to ₦24.99 billion.Those are not numbers to mock. They are numbers to celebrate.A young Nigerian bank, established in a difficult economy,…

Feb

2026

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”I Withdrew Everything’- Man Closes UBA Accounts After Tony Elumelu Supports Tinubu

CBN/Commercial Banking, News Flash, Politics

‘I Withdrew Everything’- Man Closes UBA Accounts After Tony Elumelu Supports Tinubu Nigerian-born health communication specialist, Ugochukwu Madu, has reportedly closed all his accounts with United Bank for Africa (UBA) following recent comments by the bank’s chairman, Tony Elumelu, in support of President Bola Ahmed Tinubu’s economic reforms. Madu announced his decision shortly after Elumelu publicly endorsed the President’s ongoing policy measures, sparking mixed reactions online. Elumelu made his remarks after a private session with the President at the Presidential Villa in Abuja. Addressing journalists, he described the government’s ongoing reforms as necessary steps to stabilise the economy and promote…

Feb

2026

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Valentine’s Day: CBN Lists Money Bouquets As Offence

CBN/Commercial Banking, Economy, News Flash

Valentine’s Day: CBN Lists Money Bouquets As Offence As Valentine’s Day draws near, the Central Bank of Nigeria’s (CBN) 2023 warning against money bouquets is making the rounds again. The apex bank had classified money bouquets, a popular gift among lovers, as a form of naira abuse. In a flier shared on its official Twitter handle in 2023, the CBN listed money bouquets alongside other prohibited practices, including spraying, selling, squeezing, and defacing naira notes. Citizens were urged to report incidents of naira abuse, with the CBN emphasising: “It is your civic duty to protect the naira. Report naira abuse…

Feb

2026

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CBN Approves BDCs’ Return To Forex Market, Allows Purchase Of Up To $150,000 Weekly

CBN/Commercial Banking, Economy, FGN

CBN Approves BDCs’ Return To Forex Market, Allows Purchase Of Up To $150,000 Weekly The Central Bank of Nigeria (CBN) has authorised licensed Bureau De Change (BDC) operators to resume participation in the Nigerian Foreign Exchange Market (NFEM), in a move aimed at improving liquidity and enhancing access to foreign exchange in the retail segment. The approval was contained in a circular signed by the Director of the Trade and Exchange Department, Dr Musa Nakorji. The circular stated that each licensed BDC is permitted to purchase up to $150,000 weekly, subject to compliance with existing operational guidelines. Under the new…

Jan

2026

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Man Chooses 1-Year Imprisonment Instead Of Refunding N1.5 Billion Mistakenly Paid Into His Account

CBN/Commercial Banking, Crime, Judiciary, News Flash

Man Chooses 1-Year Imprisonment Instead Of Refunding ₦1.5 Billion Mistakenly Paid Into His Account A Nigerian man has sparked widespread reactions online after reportedly choosing to serve a one-year jail term rather than refund ₦1.5 billion mistakenly credited to his First Bank account. The incident was shared on X (formerly Twitter) by user @arhermadd, who identified the man as Ogo Ehosa Kingsley. According to the post, Kingsley allegedly diverted the funds for personal use after the erroneous credit hit his account between June and November 2025. The matter was taken up by the Economic and Financial Crimes Commission (EFCC), which…

Oct

2025

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CBN Finally Speaks On Alleged Allocations Of $1.3 Billion For Fuel Import

CBN/Commercial Banking, Economy, FGN

CBN Finally Speaks On Alleged Allocations Of $1.3 Billion For Fuel Import The Central Bank of Nigeria (CBN) has refuted the report that it allocated $1.269 billion foreign exchange for the importation of petroleum products in the first quarter of the year. It said in a statement on Tuesday that the report was misleading and inaccurate. “The Central Bank of Nigeria (CBN) has noted some misreporting that falsely implies the Bank disbursed US$1.259 billion to major oil sector operators for the importation of refined petroleum products and related items. Such reporting is entirely inaccurate and misleading,” the statement said. The…

Oct

2025

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Nigeria Has Pulled Back From Economic Collapse – Emir Sanusi Hails CBN Reforms

CBN/Commercial Banking, Columns/Opinions/Letters, Economy

Nigeria Has Pulled Back From Economic Collapse – Emir Sanusi Hails CBN Reforms Former Central Bank of Nigeria (CBN) Governor, Sanusi Muhammadu Sanusi, has praised the current leadership of the apex bank for what he described as a “remarkable turnaround” in Nigeria’s monetary and economic stability. Speaking on recent economic developments, Sanusi said he had “nothing but positive words” for the CBN’s policies, noting that the institution had successfully stabilized the exchange rate and curbed the reckless monetary expansion that once threatened the economy. “We came from a period of very high instability due to loose monetary policy and uncontrolled…

Sep

2025

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N22.7trn Printed Under Buhari’s Govt ‘Collapsed’ Nigeria’s Economy – Ex-Speaker Dogara

Economy, CBN/Commercial Banking, FGN, Interviews

N22.7trn Printed Under Buhari’s Govt ‘Collapsed’ Nigeria’s Economy – Ex-Speaker Dogara Former Speaker of the House of Representatives, Yakubu Dogara, has attributed the decline in the value of the naira to the economic policies of the previous administration, which printed and injected N22.7 trillion into the economy. Dogara also described the foreign loan and crude oil-tied measures that sustained it as nothing short of voodoo economics. Noting that the policy under late President Muhammadu Buhari undermined the currency’s value, Dogara argued that the massive liquidity injection, coupled with dual exchange rates and unproductive forex allocations, left the nation’s economy teetering…

Aug

2025

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Access Holdings Appoints New Managing Director/CEO

CBN/Commercial Banking, News Flash

Access Holdings Appoints New CEO Access Holdings Plc has confirmed the appointment of Innocent Ike as its new Group Managing Director and Chief Executive Officer, effective August 29, 2025, following the approval of financial regulators. The decision brings an end to the 18-month acting tenure of Bolaji Agbede, who assumed leadership of the financial services giant after the sudden death of former CEO Herbert Wigwe in February 2024. Agbede led the group through the transition marked by regulatory pressures and investor concerns. However, the Central Bank of Nigeria’s stipulation on minimum experience for financial holding company CEOs prevented her confirmation.…