Fidelity Bank Takes Over Three Discos, FG Intervenes- Nigeria.
The Federal Government announced the takeover of Kano, Benin and Kaduna electricity distribution companies by Fidelity Bank. This was after…
Category: Banking
Zenith Bank Again Maintains Position As Nigeria’s Best Commercial Bank, And Best Corporate Governance Bank At World Finance 2022 Awards.
Zenith Bank Plc has emerged as the Best Commercial Bank, Nigeria in the World Finance Banking Awards 2022; retaining the…
Bank Assets Rise By 21% To N64.32Tn – CBN
Nigerian banks’ total assets rose by N11.15tn in one year to N64.32tn as of the end of April. Figures obtained…
Nigerian adults with bank accounts hit 45% — World Bank
The number of Nigerians with accounts at regulated institutions such as a bank; credit union, microfinance institution, post office, or…
Swiss National Bank Spent $6 Bln On Q1 FX Interventions
The Swiss National Bank spent 5.74 billion Swiss francs ($6.01 billion) on foreign currencies during the first quarter of 2022;…
UTM Offshore, Afreximbank Sign $11.4Bn Financing Deal
African Export-Import Bank has signed a financing deal with UTM Offshore Limited. This deal was signed at its 29th Annual…
Sterling Bank Launches Ethical Investment Platform
Sterling Alternative Finance has launched an ethical investment platform called Altinvest. During the launch in Lagos, Sterling Alternative Finance, which…
Unity Bank Plans N10m Business Grant In Entrepreneur Initiative- Nigeria.
Unity Bank has said it will commence the eight edition of its flagship Entrepreneurial Development Initiative; Corpreneurship Challenge across 10…
CBN Raises Interest Rate To 13%
The Central Bank of Nigeria on Tuesday raised the interest rate to 13% for the first time in two years.…
Afreximbank’s Payment Solution To Save Traders $5Bn
The African Export-Import Bank has created a payment solution platform, the Pan-African Payment and Settlement System. This is to facilitate…
Rouble Firms Past 52 Against Dollar For First Time Since May 2015
The rouble rallied past 52 against the dollar to a more than a seven-year high on Tuesday as capital controls.…
Aeromexico Shareholders Back Mexico Stock Exchange Exit In Bankruptcy Restructuring
Aeromexico said on Tuesday that a majority of its shareholders approved a proposal to exit the main Mexican stock exchange.…
UBA Rewards Customers With N16.6m In Promo
Africa’s Global Bank, the United Bank for Africa Plc, has rewarded its loyal customers in its UBA Super Savers draw…
Wema Bank Launches Innovation Challenge For Kids
Wema Bank Plc has unveiled its Kids’ innovation challenge aimed at encouraging children. This, however, It teaches them to ideate…
Banks Rally After Stress Test, Bank of America Underperforms
Shares in the biggest U.S. banks rallied after they passed the Federal Reserve’s annual health check; but Bank of America…
Wema Bank Stock Gains 340% In 6 Months
The NGX Banking index is designed to provide an investable benchmark to capture the performance of the banking sector, which…
Central Bank Of Nigeria To Spend $1.7Billion To Clear FX Backlogs By September-IMF
The World Bank has stated that Nigeria’s external reserves expect to decline. As a result, the Central Bank of Nigeria…
States To Lose N19bn In Oil, Gas Revenues In 2022 – World Bank.
The World Bank has said that Nigerian states will likely lose N18.8bn in oil and gas revenues in 2022. As…
FG, World Bank, AFD To Spend $575m On Rural Roads
The Federal Government has signed a tripartite agreement with the World Bank and the French Development Agency. This is to…
Wema Bank Assures Customers Of Data Confidentiality- Nigeria.
Wema Bank has said that it will ensure data confidentiality of its customers. The bank said, “We implore members of…
CBN Raises Online Transfer Limit To N25 Million And N250million For Individuals And Companies Respectively.
The Central Bank of Nigeria (CBN) has raised the limit for ‘Highly Secured Online Funds Transfer’. This begins from N100…
Bitcoin On Its Way To $32,000 As On-Chain Data Suggests Net Accumulation
Cryptocurrency bulls took over the market on Monday, with Bitcoin leading the charge, fighting its way through the $30,000 resistance…
Russia-Ukraine: Nigerian banks not under any major risk, says S & P
The ongoing Russia-Ukraine conflict will have no major negative impact on the overall operations and assets quality of Nigerian banks.…
CBN increases currency in circulation by N418bn over cash transactions
THE currency in circulation rose by N418bn from N2.91tn in December, 2020, to N3.33tn in December, 2021, according to figures…
Micro Finance Institution Advised To Renew License For Smooth Business
Micro Finance institutions have been asked to acquire the 2022 operational licenses to enable them to work effectively and be…
Digital Payment Has Overtaken Use Of Cheques – CBK
Growth in usage of cheques has slowed down in the last decade, losing out to digital payments channels which are…
Persisting Inflation Will Limit CBN Borrowing Ability- IMF
Economists at the International Monetary Fund and World Bank have revealed that persisting inflationary pressure will limit the ability of…
Consensus Builds Up On Kicking Russia Out Of SWIFT
Canada, the United States, Britain and the European Union on Friday said they could act to exclude Russia from the…
Nigeria sues JP Morgan in London over $1.7b oil deal
A London high court began to hear a lawsuit yesterday launched by Nigeria against United States bank JP Morgan Chase…
Fidelity Bank Restates Support For CBN FX Repatriation Push, Sensitizes Customers In Emerging Opportunities In Non-Oil Exports
Fidelity Bank Plc a leading Nigerian bank has reaffirmed its commitment to actively support the CBN efforts to achieve its…