Banks borrowed N3tn from CBN in one week – Report
Nigerian banks and discount houses borrowed N3tn from the Central Bank of Nigeria (CBN) through the Standing Lending Facility in…
Category: Banking
Guaranty Trust recorded N1tr profit in six months
Guaranty Trust Holding Company (GTCO) Plc has achieved a historic milestone by becoming the first Nigerian financial institution to report…
First Bank of Nigeria halts misconceptions, Clarifies sale of FBNQuest merchant bank
First Bank of Nigeria (FBN) has confirmed that the recent sale of its 100% equity stake applies solely to FBNQuest…
FG eyes slice of OPay, Palmpay N46tn transactions
The Nigerian government is set to implement a new Electronic Money Transfer Levy (EMTL) from September 9, 2024. This levy…
CBN Raises N9.27tn via NTBs as Investors Seek Longer Maturities, Higher Returns
The Central Bank of Nigeria (CBN) successfully raised N9.27 trillion from Nigerian Treasury Bills (NTBs) across auctions held between January…
Unity Bank restores service, begins duty collection
Unity Bank Plc has announced the restoration of its services and readiness to collect customs duties from licensed customs agents…
CBN lifts suspension on bank borrowing, sets 31.75% lending rate
The Central Bank of Nigeria (CBN) has reinstated access to its Standing Lending Facility (SLF) following the recent 296th Monetary…
CBN lifts suspension on Standing Lending facility
The Central Bank of Nigeria (CBN) has lifted the suspension on the Standing Lending Facility (SLF), allowing banks to borrow…
CBN, SEC okay Ecobank custody business
Ecobank Nigeria Limited has received approvals from the Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN)…
FCMB appoints new board members
First City Monument Bank Limited has appointed Ademola Adebise and Mrs. Olufunmilayo Adedibu to its board of directors, pending approval…
Union Bank begins recapitalisation
Union Bank of Nigeria is kicking off a recapitalisation effort to boost its financial stability. This move comes after the…
GTB confirms hackers attempt to compromise website
Guaranty Trust Bank Plc (GTBank) has confirmed an isolated incident involving an attempt to compromise its website domain, which occurred…
Providus Bank pays Unity price for national dreams
Providus Bank is set to acquire Unity Bank, a financially troubled but strategically important bank, following approval from the Central…
Lack of BVN stalls 18% Heritage Bank’s depositors from reimbursement – NDIC
The Nigeria Deposit Insurance Corporation (NDIC) has announced that 82.36% of insured deposits belonging to customers of the defunct Heritage…
NDIC pays N5m to Heritage Bank’s depositors
The Nigeria Deposit Insurance Corporation (NDIC) has successfully disbursed N5 million each to 82.36% of Heritage Bank’s insured depositors. However,…
Union Bank Graduates Management Trainees
Union Bank of Nigeria has celebrated the graduation of its 2024 management trainees at a ceremony held at The Stable,…
New CBN circular clarifies existing rule on certificate of capital importation for forex repatriation, divestment
The Central Bank of Nigeria (CBN) has issued a new circular detailing the documentation required for foreign investment divestments and…
Why CBN Injected N700bn Bailout In Unity Bank-Providus Bank Merger
The Central Bank of Nigeria (CBN) has approved a N700 billion financial package to support the merger between Unity Bank…
CBN okays Unity, Providus Banks’ merger arrangement
The Central Bank of Nigeria (CBN) has approved the merger between Unity Bank and Providus Bank. This decision was announced…
Bank directors disagree with Otedola, Elumelu on FX windfall tax
The Bank Directors Association of Nigeria (BDAN) has expressed disagreement with the views of FBN Holdings Chairman Femi Otedola and…
UBA emerges most visited Nigerian banking website
United Bank for Africa (UBA) has been named the most visited banking website in Nigeria, with 2.36 million visits in…
Banks, others shut as hunger protest holds
Banks and financial institutions in Nigeria will be closed on Thursday, August 1, 2024, due to a planned hunger strike…
Banks’ Recapitalisation: Foreign investors moving in — Cardoso
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, announced an increase in foreign investment into Nigerian…
FCMB Group Plans N110 Billion Capital Raise with New Share Offer
FCMB Group announced plans to raise N110 billion by issuing new ordinary shares at N7.30 each on the Nigerian Exchange…
Customers besiege banks to reactivate dormant accounts
Bank customers have been visiting their banks to reactivate dormant accounts in response to new Central Bank of Nigeria (CBN)…
Zenith Bank Finalises Plans For N290bn Rights Issue, Public Offer
Zenith Bank Plc is set to raise a substantial N290 billion through a combined Rights Issue and Public Offer. This…
Why CBN Wants To Take Over Dormant Account Balances From Banks
The Central Bank of Nigeria (CBN) has introduced new guidelines to manage dormant accounts and unclaimed funds in the country’s…
SEC approves extension of Fidelity Bank offer by 14 days
The Securities and Exchange Commission (SEC) has allowed Fidelity Bank to extend its Public Offer and Rights Issue by 14…
BVN Enrolments Surge by 854,267 to 62.7m in Two Months
Bank Verification Number (BVN) registrations in Nigeria have risen to 62.7 million as of July 2024, up from 61.87 million…
FCMB Lifts Female Entrepreneurs With Zero-Interest Loans
The First City Monument Bank (FCMB) is addressing gender inequality in Nigeria’s business sector with its SheVentures programme, offering interest-free…