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Banking
NOVA Merchant Bank Transitions to Commercial Bank
NOVA Merchant Bank Limited has obtained approval to transition into a national commercial bank, announced Phillips…
First Bank of Nigeria Appoints Olusegun Alebiosu as CEO, Ini Ebong as Deputy MD
First Bank of Nigeria Limited has officially named Olusegun Alebiosu as its new Managing Director and Chief…
Fidelity Bank: we have all it takes to surpass N500b capital
Fidelity Bank Plc has announced a capital-raising initiative of N127.10 billion to enhance its market position and…
Swiss National Bank Calls for Stronger Financial Regulations Post Credit Suisse…
Switzerland's financial regulations need strengthening after UBS's takeover of Credit Suisse, according to the…
Wemabod gets new MD
Wemabod Limited has announced a leadership transition with the appointment of Bashir Oladunni as the new Managing…
Recapitalisation: Wema Bank Gets Approval For N40bn Rights Issue
Wema Bank has announced the successful conclusion of the first tranche of its recapitalisation exercise, securing…
NDIC Lists Heritage Bank Assets for Sale Nationwide Following License Revocation
The Nigeria Deposit Insurance Corporation (NDIC) has announced the sale of Heritage Bank's assets nationwide…
Sterling Bank partners SPPG for credential verification via blockchain tech
Sterling Bank has partnered with the School of Politics, Policy, and Governance (SPPG) to transform the…
FG Seeks $500M World Bank Loan for Rural Roads and Agricultural Marketing…
The Federal Government of Nigeria is pursuing a $500 million loan from the World Bank to enhance rural roads and…
16 Directors Exit After Ex-Governor’s Misconduct Probe
Sixteen out of twenty-nine directors at the Central Bank of Nigeria (CBN) have been relieved of their duties,…
Fidelity Bank goes for N127.1bn capital raise
In response to the Central Bank of Nigeria's revised minimum capital requirements for commercial banks introduced…
Fidelity Bank Plc undertakes a N29.6bn Rights Issue and N97.5bn public offer
Fidelity Bank Plc is set to raise up to N127.1 billion via a Rights Issue and Public Offer, as part of its…
FCMB Shareholders Raise Issued Capital To N150bn
FCMB Group Plc shareholders have approved a significant increase in the company's capital base. This move will…
CBN Lifts Ban on New Customer Signups for OPay, Kuda and Others
In a move welcomed by Nigerian fintech users, the Central Bank of Nigeria (CBN) has lifted its ban on onboarding…
FMBN Inaugurates Task Force To Recover Delinquent Loans
In a move to improve its financial health, the Federal Mortgage Bank of Nigeria (FMBN) has launched a major loan…
CBN Revokes Licence Of Heritage Bank
The Central Bank of Nigeria (CBN) has revoked the license of Heritage Bank Plc with immediate effect, citing a…
Zenith Bank’s CEO Retains “Best Banking CEO in Africa” Title for…
Dr. Ebenezer Onyeagwu, Group Managing Director/Chief Executive Officer of Zenith Bank Plc, has been recognized as…
BoI extends application for RAPID fund for MSMEs
The Bank of Industry (BOI) has extended the application deadline for its Rural Area Program for Investment and…
UBA appoints Emmanuel Nnorom as non-executive director
The United Bank for Africa (UBA) has appointed Emmanuel Nnorom as a new non-executive director to its board.…
UBA Announces Over N2trn Revenue, N607.69bn Profit
The United Bank for Africa (UBA) has announced a stellar performance for the 2023 financial year, achieving record…
Jaiz Bank Posts N11bn Profit Before Tax
Jaiz Bank Plc announced impressive financial results for 2023 and the first quarter of 2024. Their profit before…
Fidelity Bank chair to earn N60m per annum
Big Pay Day for Fidelity Bank BossesFidelity Bank shareholders just voted to give their chairman a big raise! The…
8 banks pay N200bn as income tax in Q1’24
In the first quarter of 2024 (Q1'24), eight commercial banks in Nigeria collectively paid a total of N200.19…
FCMB Profit increases by 192.6% to N31.3bn in Q1
FCMB Group's profit before tax has seen a massive surge of 192.6% to N31.3 billion in the first quarter of 2024.…
Banks cut loans to govt by 73% in March
Commercial lenders significantly reduced loans to the three tiers of government by 73.18% to N19.59 trillion in…
IMF cautions FG against CBN Act amendment
The International Monetary Fund (IMF) has advised against proposed amendments to the Act establishing the Central…
CBN Updates List of Deposit Money Banks, Grants International Authorization to…
The Central Bank of Nigeria (CBN) has released an updated list of deposit money banks and other financial…
Access Holdings Directors Vested with Shares Worth N427.13m
Eight directors of Access Holdings, including the acting Group Chief Executive Officer, Bolaji Agbede, and…
List of financial transactions exempted from 0.5% cybersecurity levy
In a circular signed by Chibuzor Efobi, the director of payments system management, and Haruna Mustafa, the…
Cash deposit in banks increase by 66%
Customers' deposits in Nigeria's leading deposit money banks witnessed a remarkable 66 percent Year-on-Year…