Financial Services Stocks Drag Nigerian Bourse, Market Capitalization Declines by N257bn
The Nigerian bourse experienced a downturn last week as losses in FBN Holding Plc, Ecobank Transnational Incorporated, and other financial…
Category: Banking
Improved Liquidity in Kenyan Market Lowers Interbank Rates
The interbank rate in Kenya has dropped from double-digit levels to 8.62 percent, following improved liquidity in the market. This…
Central Bank of Nigeria Upgrades eNaira App with NFC Technology
The Central Bank of Nigeria (CBN) has enhanced its eNaira app by integrating Near Field Communication (NFC) technology, making it…
Access Bank Completes Acquisition of Majority Stake in Finibanco Angola S.A.”
Access Bank Plc, the flagship subsidiary of Access Holdings, has successfully completed its acquisition of a majority equity stake in…
Ecobank Petitions FBN Holdings to Halt Approval of Otudeko’s Share Acquisition
Ecobank Plc has filed a petition to FBN Holdings, urging them to suspend the approval of Oba Otudeko’s bid for…
BoG Anticipates that Inflation would Stay Over 10% Until 2025.
Barring any unexpected shocks, the Bank of Ghana (BoG) expects inflation to be on the decline through the end of…
Request for a Sh2.8 billion debt write-off led Equity to sue TransCentury.
TransCentury Plc was placed under administration after Equity Bank Kenya turned down a request to cancel more than Sh2.8 billion…
Shareholders Approve an Additional N1.5 Billion Capital Infusion for TrustBanc
According to a statement from TrustBanc Holdings Limited, the extra N1.5 billion capital injection into TrustBanc Microfinance Bank Limited has…
CBN eliminates the savings and withdrawal caps on domiciliary accounts
The restrictions on domestic accounts have been abolished by the Central Bank of Nigeria. The CBN said in a statement…
CBN Floats Naira at Investors’ Forex Window.
To enable the naira’s free float versus the dollar and other major world currencies, the Central Bank of Nigeria is…
The Index of Nigerian Banking Equities Rises to a 20-year High.
Following the dismissal of central bank governor Godwin Emefiele last week, who supervised restrictive policies, investors flocked to financial companies…
Banks Continue to Maintain Ratio at Above 30% Despite Liquidity Crunch.
Deposit Money Banks (DMBs) operating in Nigeria reported varied Liquidity Ratio (LR) over the statutory level in the 2022 financial…
Exposure of Nigerian Banks to $13 billion Eurobond for Ghana Set at $1.7 Billion.
According to a research published by Agusto &Co, Nigerian banks have a significant amount of exposure to the economic and…
African subsidiaries account for half of UBA’s earnings – CEO.
United Bank for Africa Plc has reported that all of its African businesses are now on solid ground, adding significantly…
The NDIC will auction the assets of failed banks and reimburse clients.
Following the Central Bank of Nigeria’s cancellation of licenses for 179 microfinance institutions and four Primary Mortgage institutions, the Nigeria…
In April, bank credit to the private sector surpassed N44 trillion.
The Central Bank of Nigeria (CBN) has revealed that banking industry lending to the private sector surpassed N44 trillion to…
The CBN prohibits the mint corporation from printing checks.
According to a recent circular, the Central Bank of Nigeria has authorized four indigenous businesses to issue checks in the…
Eight Banks Report Loan Losses at N502 billion.
Eight banks reported N502 billion in net impairment charges in 2022, in an effort to lessen the adverse effects of…
CBN will Provide Rules for Contactless Payments.
According to the Central Bank of Nigeria (CBN), guidelines will soon be released to encourage the effective and safe usage…
Access Bank Receives Regulatory Approval to Acquire Angola Company.
The Central Bank of Angola, Banco Nacional de Angola, has given its clearance to Access Bank, the flagship subsidiary of…
CBN: Bank Deposits Fell N210bn in Q1.
Total demand deposits fell by N210 billion between January and March 2023, as Nigerians made huge withdrawals from depository banks.…
Eight Banks Earn N225 billion from E-banking Fees.
As cashless transactions increased to N395.47tn in 2022, eight banks made N224.69bn from electronic banking fees. Data analyzed from the…
Union Bank’s Earnings Increase by 19%.
According to Union Bank of Nigeria Plc, its total earnings increased by 19% to N208. 2 billion in the 2022…
EPayments Reach N49.4 Trillion, With 40% of Failed Transactions Unresolved
According to CIO, we have handled more than 60% of ePayment issues. Although banks owe telcos over N100 billion in…
GTCO Generates a N214 billion Profit.
According to Guaranty Trust Holding Company Plc, it reported a profit before tax of N214.2 billion, a 3.3% decrease from…
CBN Moves to Invest Unclaimed Funds in Dormant Accounts in T-bills.
According to a proposal made by the Central Bank of Nigeria, banks should move money from accounts that have been…
UBA, Zenith Bank, and Four Other Institutions Announce N389.8 Billion Dividend in Two Years.
Six out of the 13 listed banks on the Nigerian Exchange Limited (NGX) declared a combined N389.8 billion in dividends…
UBA Increases Loan Portfolio by N605 billion.
The United Bank for Africa (UBA) that its loan portfolio increased by N605 billion during the 2022 fiscal year. During…
Access Holdings Finances a Bank Subsidiary with $300 million.
According to Access Holdings Plc, it has completed a $300 million capital investment into Access Bank Plc, its flagship business.…
Foreign Reserves Decrease by $1.46 billion in two months – CBN
According to information collected from the Central Bank of Nigeria, between January and March, the nation’s foreign reserves decreased by…