Nigerian Banks Launch Major Rights Issues to Meet Recapitalisation Mandate
In response to the Central Bank of Nigeria’s recapitalization directive, several banks are collectively turning to rights issues to raise…
Category: Banking
Fidelity Bank Launches GAIM 6 Promo with N159 Million Cash Prizes
Fidelity Bank has unveiled the 6th edition of its “Get Alerts in Millions” (GAIM) promo, offering over N159 million in…
Stanbic IBTC Launches DiSEP 4.0 Empowers Nigerian Youths
Stanbic IBTC Holdings, a member of the Standard Bank Group, has introduced the fourth edition of its Digital Skills Empowerment…
CBN Refutes Allegations Of Withholding Foreign Currency Transfers
The Central Bank of Nigeria (CBN) has denied allegations that it withholds foreign currency transfers into Nigerians’ accounts. The bank…
NGX banking index records 17.4% year-to-date growth
The Nigerian Exchange Limited (NGX) banking index has shown a strong growth of 17.38% year-to-date, reflecting the increasing value of…
Unity Bank Boosts Savings Culture with Financial Literacy App
Unity Bank Plc has unveiled plans to launch a financial literacy app targeted at children and teenagers to cultivate a…
Access Bank Named Nigeria’s Sole Firm on Forbes 2024 World’s Best Employers List
Access Bank PLC has been recognized as the only Nigerian company on Forbes’ 2024 World’s Best Employers List, reflecting its…
Renewed Interest in UBA, Zenith Bank, 28 Others Lift Stock Market
The Nigerian Exchange Limited (NGX) closed positively on the previous trading day, recording a 0.16% gain, driven by renewed investor…
UBA and Mastercard Unveil 75th Anniversary Commemorative Card with Exclusive Offers
To celebrate its 75th anniversary, the United Bank for Africa (UBA) has partnered with Mastercard to launch a special commemorative…
Nigeria World Bank Push For Financial Inclusion To Reach 28 Million Unbanked Citizens
At the 2024 International Financial Inclusion Conference in Lagos, Nigeria’s Federal Government, the World Bank, and global stakeholders committed to…
ACCESS Bank UK Opens First Branch in Hong Kong to Boost Africa Asia Trade
ACCESS Bank UK has officially launched its new branch in Hong Kong, marking a significant milestone as the first West…
Money supply rises to N108.95 trillion
The Central Bank of Nigeria (CBN) has reported a significant year-on-year increase in broad money supply (M3) by 62.8%, reaching…
FCMB Offers ₦30 Million Clean Energy Loans for Homes and SMEs
First City Monument Bank (FCMB) has boosted it’s energy finance loan, offering up to ₦30 million to help Nigerian households and…
Oil Marketers Oppose Dangote Refinery’s Bid for Petrol Import Monopoly in Nigeria
Three major oil marketers, AYM Shafa Limited, A. A. Rano Limited, and Matrix Petroleum Services Limited, have challenged Dangote Refinery’s…
FBN Holdings Shares Surge as Rights Issue Launches to Bolster Capital Base
FBN Holdings’ share price rose by 1.65% on the Nigerian Exchange Limited (NGX) on Wednesday, closing at N27.65 its highest…
Nigerian Banks Defy Predictions as Non-Performing Loans Remain Stable in 2024
Against Fitch’s prediction that Nigerian banks’ Non-Performing Loan (NPL) ratios would rise in 2024, ten major banks have kept their…
Federal High Court Extends Freeze on 818 Bank Accounts Linked to N10 Billion Cyberattack
The Federal High Court in Abuja has extended the freezing of 818 bank accounts connected to a N10 billion cyberattack…
Stanbic IBTC Holdings appoints Kunle Adedeji as Acting Chief Executive
Stanbic IBTC Holdings has appointed Dr. Kunle Adedeji as Acting Chief Executive Officer, following regulatory approval. This comes as Dr.…
BREAKING: World Bank approves $1.57 billion for Nigeria for three projects
The World Bank has approved $1.57 billion to help Nigeria with important projects. This money will be used to fix…
Nigeria’s Bank reserves with CBN surge to N26.8 trillion amid aggressive CRR policy
Nigeria’s banking reserves grew significantly to N26.8 trillion in August 2024, up from N19.4 trillion the previous year. This increase…
FG plans tax incentives for MSMEs
The Federal Government of Nigeria has reiterated its commitment to helping micro, small, and medium enterprises (MSMEs) grow by offering…
NDIC pays 94% insured depositors of Heritage Bank
The Nigeria Deposit Insurance Corporation (NDIC) has paid 94% of the people who had money in the closed Heritage Bank.…
CBN boosts FX market with $20,000 to BDCs
The Central Bank of Nigeria (CBN) has decided to help people and businesses get U.S. dollars more easily. They will…
CBN sells dollars to BDCs at N1,590/$
The Central Bank of Nigeria (CBN) has decided to help people and businesses get more foreign money by allowing bureau…
CBN Expected to Maintain Interest Rates as Inflation Declines Ahead of MPC Meeting
As the Central Bank of Nigeria (CBN) commences its 297th Monetary Policy Committee (MPC) meeting, financial analysts expect the apex…
Sterling Holdco boosts recapitalisation with N75b capital
Sterling Financial Holdings Company (Sterling Holdco) has successfully raised N75 billion to support the recapitalisation of its banking subsidiaries, including…
CBN to fine banks delaying customers’ complaints resolution
The Central Bank of Nigeria (CBN) has introduced stringent measures against commercial banks, payment service providers, and financial institutions that…
Banks sack 49 employees over fraud in Q2
Nigerian banks terminated 49 staff members for involvement in fraudulent activities between April and June 2024, marking a 40% increase…
CBN Appoints Full Board of Directors for Polaris Bank
The Central Bank of Nigeria (CBN) has announced a full board of directors for Polaris Bank, signaling significant progress under…