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…
Category: Banking
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 allow the financial…
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 breach…
Zenith Bank’s CEO Retains “Best Banking CEO in Africa” Title for Second Year
Dr. Ebenezer Onyeagwu, Group Managing Director/Chief Executive Officer of Zenith Bank Plc, has been recognized as the “Best Banking CEO…
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 Development (RAPID)…
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. Nnorom’s appointment,…
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 highs in…
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 tax reached…
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 chairman…
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 billion in…
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…
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 March 2024 from…
IMF cautions FG against CBN Act amendment
The International Monetary Fund (IMF) has advised against proposed amendments to the Act establishing the Central Bank of Nigeria (CBN),…
CBN Updates List of Deposit Money Banks, Grants International Authorization to Fidelity Bank and FCMB
The Central Bank of Nigeria (CBN) has released an updated list of deposit money banks and other financial institutions as…
Access Holdings Directors Vested with Shares Worth N427.13m
Eight directors of Access Holdings, including the acting Group Chief Executive Officer, Bolaji Agbede, and Managing Director of Access Bank,…
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 director of financial…
Cash deposit in banks increase by 66%
Customers’ deposits in Nigeria’s leading deposit money banks witnessed a remarkable 66 percent Year-on-Year increase, soaring to N76.04 trillion by…
Zenith Bank’s total assets increases to N24.28 trillion in Q4
Zenith Bank Plc has experienced a significant increase in its total assets, rising by 19.21% to N24.28 trillion in the…
FCMB Group to pay N9.901 billion dividend to shareholders for FY 2023
FCMB Group Plc, a financial institution in Nigeria, announced that its shareholders will get a dividend of N9.901 billion for…
Wema bank seeks shareholders’ approval to raise N200bn capital
Wema Bank Plc, one of Nigeria’s oldest commercial banks, plans to seek shareholders’ approval to raise N200 billion in capital…
FG mandates stamp duty charge on mortgage
The Federal Government has instructed Deposit Money Banks to commence the deduction of a 0.375 per cent stamp duty charge…
FCMB Group records 186% profit growth
FCMB Group Plc has announced a remarkable increase in profit before tax, reaching N104.4 billion, marking a substantial 186 percent…
Banks close 2m accounts over BVN, NIN, others
Commercial banks in Nigeria closed more than 2 million bank accounts in the first quarter of 2024 to adhere to…
Wale Bolorunduro appointed as new Chairman of LivingTrust Mortgage bank
LivingTrust Mortgage Bank, a Nigerian financial company, has named Wale Bolorunduro as its new chairman, starting from April 19, 2024.…
Massive banking stocks sell-off persists
The banking sector witnessed a significant sell-off last week ahead of the Central Bank of Nigeria’s (CBN) recapitalization exercise, resulting…
FG to commercialize FMBN to enhance housing delivery
The Federal Government says it is reviewing loans and projects estimated at $500m executed by the Nigerian Content Development and…
Ecobank repays $500 million eurobond
Ayo Adepoju, Group Chief Financial Officer of ETI, highlighted that the Eurobond, issued in April 2019, received positive reception from…
Access bank to reward 15,786 customers in DiamondXtra campaign
Access Bank has unveiled its Season 16 DiamondXtra campaign, aiming to reward its loyal customers with exciting prizes. The bank…