Banks witness 260.9% increase in impaired loans
According to data analyzed by BusinessDay, seven listed Nigerian banks, including Zenith Bank Plc, United Bank for Africa (UBA) Plc,…
Category: Banking
UBA expresses confidence in meeting new N500bn capital base
United Bank for Africa Plc (UBA) has affirmed its confidence in meeting the new capital base set by the Central…
UBA outlines growth strategies for 2024
United Bank for Africa (UBA) Plc has unveiled its strategies to bolster growth prospects for the 2024 financial year. During…
Nigeria’s Tier-1 banks plan $3.03 billion in fresh capital
Four of Nigeria’s tier-1 banks, including FBN Holdings, Access Holdings, Guaranty Trust Holding Company Plc, and United Bank for Africa…
CAC places FBN Holdings records on caveat
The Corporate Affairs Commission (CAC) has taken action amid the crisis rocking the board of First Bank of Nigeria (FBN)…
FBN Holdings plans N300bn fresh capital raise
FBN Holdings, a financial holding company, has announced its intention to seek shareholders’ approval to raise an additional N300 billion…
Zenith Bank reports 202.3% increase in profit
Zenith Bank Plc released its 2023FY results, demonstrating continued strong performance throughout the year. The group’s profit before tax surged…
FCMB supports ReelFruit on sustainable manufacturing
First City Monument Bank (FCMB) has reiterated its dedication to sustainable manufacturing practices aimed at reducing negative environmental impacts and…
Stanbic IBTC bank upgrades mobile app
Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings, introduced an upgraded version of its mobile app tailored specifically for…
Banking sector slumps on NGX amid minimum capital requirement
The Nigerian banking sector experienced a downturn on the Nigerian Exchange Limited (NGX) yesterday, fueled by controversy surrounding the exclusion…
Again Zenith Bank named best bank in Nigeria
Zenith Bank Plc has been honored as the Best Bank in Nigeria at the Global Finance Best Banks Awards 2024,…
Banks positioned to meet new recapitalization requirements
The Association of Corporate & Marketing Communication Professionals of Banks has expressed confidence that Nigerian banks are well-equipped to meet…
Four banks delay filing of 2023 audited results
Four prominent banks, including United Bank for Africa, Zenith Bank, Stanbic IBTC, and Wema Bank, have disclosed that they will…
FG directs banks to deduct 0.375% stamp duty on loans
The Federal Government has instructed commercial banks in Nigeria to deduct and remit 0.375% on all loans disbursed by them,…
Access bank launches offline banking platform
Access Bank Plc has introduced an offline banking platform called 901.ng to provide customers with an additional channel for conducting…
CBN clarifies fertiliser donation as not new intervention
The Central Bank of Nigeria (CBN) clarified that the recent donation of 2.15 million bags of fertilisers to farmers is…
CBN Clears Foreign Exchange Backlogs
The Central Bank of Nigeria (CBN) has announced the clearance of all valid foreign exchange backlogs, fulfilling a key pledge…
FBN Holdings appoints new directors under Otedola’s chairmanship
FBN Holdings, Nigeria’s oldest bank, has appointed three new directors for the HoldCo and two for the Bank, marking the…
Bank of Japan raises interest rates, ends negative interest era
The Bank of Japan (BOJ) has announced an increase in its key interest rate from -0.1% to a range of…
CIBN Prepares to Induct 336 New Chartered Bankers
The Chartered Institute of Bankers of Nigeria (CIBN) is gearing up to induct 336 new members as chartered bankers, according…
CBN Issues Warning to Mortgage Banks and Financial Institutions
The Central Bank of Nigeria (CBN) has issued a stern warning to primary mortgage banks (PMBs), development finance institutions, and…
Banks Raise Lending Rates Following CBN’s Record MPR Hike
In response to the Central Bank of Nigeria’s (CBN) significant increase in the Monetary Policy Rate (MPR), Nigerian banks have…
FCMB Charges Accountants on Transparency
The Managing Director of First City Monument Bank (FCMB), Mrs. Yemisi Edun, emphasized the importance of sustainability accounting during her…
CBN’s Monetary Policy Committee Raises Interest Rate to 22.75%
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), under the leadership of Olayemi Cardoso, announced a…
CBN Pegs Payment of Cash Dollar at $500
The Central Bank of Nigeria (CBN) has pegged the payment of cash dollar purchase to a customer at $500 saying…
Uphold Regulations, EFCC Chairman Urges Bank CEOs
Mr. Ola Olukoyede, the Chairman of the Economic and Financial Crimes Commission (EFCC), has emphasized the importance of adherence to…
First Bank to Reward Customers with N36m Cash Promo
First Bank of Nigeria has introduced the second season of its Cash Out promo aimed at rewarding users of FirstMobile,…
Nigeria’s Inflation to Decline by 21.4% by 2024- CBN
Mr. Yemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), projected a drop in Nigeria’s inflationary pressure from…
Businesses Deem Bank of Ghana’s Monetary Policy Insufficient
Businesses have expressed dissatisfaction with the Bank of Ghana’s (BoG) 100 basis point reduction in the monetary policy rate, lowering…
