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Banking
Kenya Commercial Banks Raise Base Lending Rates for Seventh Consecutive Month
Kenyan commercial banks have increased their base lending rates for the seventh consecutive month, reaching 13.31…
NDIC Trains Law Enforcement Operatives to Probe Revoked MfBs and PMBs
The Nigeria Deposit Insurance Corporation (NDIC) has organized a workshop to train law enforcement operatives and…
Nigerian Government Aims for N100 Trillion Asset Under Management (AuM) Growth…
The Nigerian Federal Government, represented by the Ministry of Finance Incorporated (MOFI), has set a target to…
Nigerian Central Bank to Rename Official Forex Market as Nigerian Foreign Exchange…
The acting Governor of the Central Bank of Nigeria (CBN), Folashodun Shonubi, announced that the official foreign…
Central Bank of Nigeria Exempts Microfinance and Primary Mortgage Banks from Cash…
The Central Bank of Nigeria (CBN) has issued a circular exempting Primary Mortgage Banks and Microfinance Banks…
Central Bank of Nigeria Achieves 64.1% Financial Inclusion, Targets 95% by 2024
The Central Bank of Nigeria (CBN) has reported achieving a financial inclusion rate of 64.1%. The CBN aims to…
NOVA Merchant Bank Receives Shareholder Approval for Transition to Commercial…
NOVA Merchant Bank has obtained the approval of its shareholders to transition into a commercial bank during its…
NGX Reclassifies Fidelity Bank Plc’s Stock to Medium Price Category
The Nigerian Exchange Limited (NGX) has announced the reclassification of Fidelity Bank Plc's stock from Small…
Fidelity Bank to Raise Additional Capital through Public Offer and Rights Issue
Fidelity Bank plans to seek approval from its shareholders to raise additional capital through the issuance of…
NOVA Merchant Bank Unanimously Approved for Transition to Commercial…
Shareholders of NOVA Merchant Bank have given their unanimous approval to transition the bank into commercial…
Access Bank and Standard Chartered Bank Finalize Agreement for African…
Access Bank Plc and Standard Chartered Bank have reached an agreement for Access Bank to acquire Standard…
Financial Services Stocks Drag Nigerian Bourse, Market Capitalization Declines by…
The Nigerian bourse experienced a downturn last week as losses in FBN Holding Plc, Ecobank Transnational…
Improved Liquidity in Kenyan Market Lowers Interbank Rates
The interbank rate in Kenya has dropped from double-digit levels to 8.62 percent, following improved liquidity in…
Central Bank of Nigeria Upgrades eNaira App with NFC Technology
The Central Bank of Nigeria (CBN) has enhanced its eNaira app by integrating Near Field Communication (NFC)…
Access Bank Completes Acquisition of Majority Stake in Finibanco Angola…
Access Bank Plc, the flagship subsidiary of Access Holdings, has successfully completed its acquisition of a…
Ecobank Petitions FBN Holdings to Halt Approval of Otudeko’s Share…
Ecobank Plc has filed a petition to FBN Holdings, urging them to suspend the approval of Oba Otudeko's bid for 4…
BoG Anticipates that Inflation would Stay Over 10% Until 2025.
Barring any unexpected shocks, the Bank of Ghana (BoG) expects inflation to be on the decline through the end of…
Request for a Sh2.8 billion debt write-off led Equity to sue TransCentury.
TransCentury Plc was placed under administration after Equity Bank Kenya turned down a request to cancel more than…
Shareholders Approve an Additional N1.5 Billion Capital Infusion for TrustBanc
According to a statement from TrustBanc Holdings Limited, the extra N1.5 billion capital injection into TrustBanc…
CBN eliminates the savings and withdrawal caps on domiciliary accounts
The restrictions on domestic accounts have been abolished by the Central Bank of Nigeria.
The CBN said in a…
CBN Floats Naira at Investors’ Forex Window.
To enable the naira's free float versus the dollar and other major world currencies, the Central Bank of Nigeria…
The Index of Nigerian Banking Equities Rises to a 20-year High.
Following the dismissal of central bank governor Godwin Emefiele last week, who supervised restrictive policies,…
Banks Continue to Maintain Ratio at Above 30% Despite Liquidity Crunch.
Deposit Money Banks (DMBs) operating in Nigeria reported varied Liquidity Ratio (LR) over the statutory level in…
Exposure of Nigerian Banks to $13 billion Eurobond for Ghana Set at $1.7 Billion.
According to a research published by Agusto &Co, Nigerian banks have a significant amount of exposure to the…
African subsidiaries account for half of UBA’s earnings – CEO.
United Bank for Africa Plc has reported that all of its African businesses are now on solid ground, adding…
The NDIC will auction the assets of failed banks and reimburse clients.
Following the Central Bank of Nigeria's cancellation of licenses for 179 microfinance institutions and four…
In April, bank credit to the private sector surpassed N44 trillion.
The Central Bank of Nigeria (CBN) has revealed that banking industry lending to the private sector surpassed N44…
The CBN prohibits the mint corporation from printing checks.
According to a recent circular, the Central Bank of Nigeria has authorized four indigenous businesses to issue…
Eight Banks Report Loan Losses at N502 billion.
Eight banks reported N502 billion in net impairment charges in 2022, in an effort to lessen the adverse effects of…
CBN will Provide Rules for Contactless Payments.
According to the Central Bank of Nigeria (CBN), guidelines will soon be released to encourage the effective and…