Sterling Bank stock trading is halted on NGX
The Nigerian Exchange Limited’s trading floor has halted all activity in Sterling Bank shares. The suspension, according to a notification…
Category: Banking
UBA Increases Profit by 31% to N201 billion.
United Bank for Africa said that its 2022 financial period saw a N201 billion profit before taxes. This information was…
FirstBank Renamed its Subsidiaries in the UK and Africa.
The United Kingdom and Sub-Saharan Africa subsidiaries of First Bank of Nigeria Limited have received notice of a phased corporate…
Federal Government $22bn Loan Request Rejected by Chinese Bank.
On Tuesday, the House of Representatives accepted the federal government’s proposal to borrow $973,474,971.38 from the China Development Bank. This…
CBN bars banks seeking upgrade from expansion
The Central Bank of Nigeria’s new draft rules prohibit banks and other financial organizations applying for conversion licenses from increasing…
Bank Credit to the Government Reaches N28.43 trillion
In the first two months of 2023, banks’ credits to the government increased by N3.77 trillion. According to data acquired…
Nigerian Banks will Increase the Individual Cash Withdrawal Cap to N100,000
According to some bank executives, commercial banks are planning to increase their cash withdrawal limits from the present N20,000–N50,000 range…
Afreximbank, NEXIM, and FG Sign a $350,000 Agreement to Improve Water Transportation.
The Federal Ministry of Transportation, the Nigerian Navy, the African Export-Import Bank (Afreximbank), and the Nigerian Export-Import Bank (NEXIM) have…
FCMB Initiates a N300 billion Capital Raise.
After the first tranche of the multi-tranche program was successfully completed, FCMB Group Plc, the parent company for First City…
Zenith Bank CEO is Honored by UNN
Ebenezer Onyeagwu, group managing director and chief executive officer of Zenith Bank Plc, received a doctorate in business administration from…
Foreign Reserves Decline by $1.43bn in Ten Weeks.
Experts concurred that the CBN’s approach to currency management was the primary cause of Nigeria’s precarious position in its foreign…
E-payment Issues Put Pressure on the Bank’s Tech Resources
The lack of petrol prevented people from queuing, but the lack of cash drove the Central Bank of Nigeria to…
Kuda Promotes Professional Women
This year’s International Women’s Day will be celebrated with a month-long series of events, according to Kuda Microfinance Bank, which…
Emefiele Spits Fire, Threatens Errant Banks’ Shareholders
Godwin Emefiele, the governor of the Central Bank of Nigeria (CBN), has issued a stern warning to misbehaving shareholders of…
FCMB Group Issues N20.68bn Bond
In accordance with its N300 billion debt issue plan, FCMB Group Plc has announced the issuance of a N20.68 billion…
NIBSS Reports a 44% Decrease in E-bill Payments Due to a Cash Shortage.
Despite the Central Bank of Nigeria’s naira redesign strategy, which aims to increase cashless transactions, the value of electronic utility…
SVB: CBN Encourages African Regulators to Prevent Bank Failure
Godwin Emefiele, the governor of the Central Bank of Nigeria, has encouraged other central bank governors in Africa as well…
Forex Crisis: Banks Reduce PTA/BTA to $2000, Review Processing Time to 120 Days
Personal Travel Allowance (PTA) and Business Travel Allowance (BTA) dollar amounts have been reduced by 50% at Nigerian banks, from…
Polaris Encourages Women’s Empowerment In The Workplace.
The country’s institutions have been urged by Polaris Bank Limited and other financial sector players to offer opportunities that would…
E-payment Declines to N37tn as Unsuccessful Transactions Increase
Cashless gateways were utilized 901.46 million times in February compared to 638 million times in January. Despite a rise in…
N20tn Economy Loses Due to CBN’s 70% Cash Mop-up
According to a recent analysis by the economic think tank Centre for the Promotion of Private Business, the Federal Government’s…
Stanbic IBTC Bank Is Listed By PenCom For Financing RSA-backed Mortgages.
The Pension Commission has designated Stanbic IBTC Bank, a division of Stanbic IBTC Holdings, as one of the institutions to…
The Deputy Managing Director Of Zenith Bank Resigns.
Adaora Umeoji, the Deputy Chief Executive Officer at Zenith Bank, has left her position after seven years.According to a regulatory…
Banks’ NPL Sustains Decrease at 4.2%, Assets Up 24.24% To N73.59trn
The non-performing loans (NPLs) in the country’s banking industry have reportedly declined further below the regulatory threshold of 5% to…
CBN Disburses N114bn Under 100-for-100 Policy
From the start of the intervention, the Central Bank of Nigeria has given beneficiaries under its 100-for-100 Policy on Production…
Flutterwave Denies Losing N2.9 Billion To Hackers
Flutterwave, a unicorn in the African financial industry, has denied losing $2,949,557,867 to hackers. it was previously revealed that hackers…
Bank Assets Increased To N73 trillion, According To CBN
From N59.24tn at the end of December 2021 to N73.59tn in the same time of 2022, the total assets of…
CBN Plans To Issue N1.13tn In Treasury Bills In The Second Quarter.
For the second quarter of 2023, the Central Bank of Nigeria intends to generate N1.13 trillion through treasury bills. According…
N42tn In Bank Loans Are Given To The Private Sector.
According to data acquired from the Central Bank of Nigeria, bank credit to the private sector increased from N35.18 trillion…
Stanbic IBTC Increases Cashless Transactions
A subsidiary of Stanbic IBTC Holdings, Stanbic IBTC Bank, has promised to assist frictionless financial transactions to support the Central…