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Banking
Nigeria’s Recorded $55.5bn Forex Inflow In Seven Months
The country recorded a foreign exchange inflow of $55.5bn in seven months, data obtained from the Central Bank of…
Tesla Countersue Bank For Seeking Windfall
Tesla Inc on Monday fought back against JPMorgan Chase & Co over a disputed bond contract, countersuing the…
Afreximbank Pan-African Payment And Settlement System (PAPSS) Explained
On the 28th of September, 2021, the Afreximbank in conjunction with the African Continental Free Trade Area…
Naira depreciates as banks shift BTA/PTA rates to N419 per dollar
The value of the Nigerian naira depreciated by 1.5 percent as banks shifted personal travel allowance (PTA) and…
Parallex transforms from microfinance to commercial bank
Parallex Bank says it has officially transitioned from a microfinance institution to a commercial bank.
The bank…
Verdant holds first close for hybrid capital Fund
Hybrid Fund initially has $36 million of committed capital Support for micro, small and medium-sized enterprises…
Nigeria: Association of Bureaux De Change Operators Of Nigeria Urge CBN To Remove…
Association of Bureaux De Change Operators of Nigeria (ABCON) has called on the Central Bank of Nigeria (CBN), to…
Nigeria’s Private Sector Borrows N5.16 Trillion From Banks In 11 Months 2021
Private sector credit rose to a record high of N35.31 trillion as of November 2021, representing N5.16 trillion net…
Stanbic, Standard Chartered, Citi Lead As Banks Record $38.2bn Foreign Inflows
Stanbic IBTC, Standard Chartered Nigeria, and Citibank Nigeria lead as capital importation from banks hit $38.18bn…
We Are Not Affiliated With Access Capital Investment Platform, Says Access Bank
Access Bank Plc says it has no business engagement or affiliation with Access Capital Investment Platform, an…
‘No Staff Will Be Affected In 2022’ — Standard Chartered Confirms Closure Of…
Standard Chartered Bank has confirmed the closure of 50 percent of its Nigerian branches.
Dayo Aderugbo, Head,…
Standard Chartered To Shut Half Of Nigeria Branches
Standard Chartered Plc is closing about half its Nigerian branches in a pivot to digital banking, according to…
Expert: CBN Policies Can’t Rescue Naira
The naira-dollar exchange rate gap widened from N80.67 per dollar at the beginning of 2021 to N152.83 per dollar…
Israel’s One Zero Digital Bank Gains Full Licence
One Zero Digital Bank has received final regulatory approval for a full banking licence, the Bank of Israel said on…
CBN’s Quarterly Forex Intervention Drops By $930m
The Central Bank of Nigeria’s foreign exchange intervention in the economy declined by $930m in the third quarter…
Review forex ban on 40 items to save naira, economists tell CBN
The Centre for the Promotion of Private Enterprise, has advised the Central Bank of Nigeria to review its ban on…
Turkish Lira Slips As Inflation Seen Soaring Higher
The lira slid as much as 4% against the dollar on Tuesday as Turkey girded for inflation to rise further after…
Sonny Odogwu, Access Bank And N50 Billion Debt
Many years ago, I sat in the office of a big man who shall remain nameless- and he expressed serious concerns about…
China Central Bank Launches Digital Yuan Wallet Apps For Android, iOS
China has released pilot versions of its digital yuan wallet application on mobile phone app stores as the…
We Paid Out Over N240bn To Customers In 2021 – PiggyVest
PiggyVest, a savings and investment platform, says over N242 billion was paid to 3.5 million customers in 2021.…
Turkish Central Bank Says To Support Conversion Of Gold Deposits To Lira
The Turkish Central Bank said on Wednesday it had decided to provide an incentive to those who convert their gold…
Nigeria’s External Reserves Fall By $440m In Two Weeks
The nation’s external reserves fell by $440m in two weeks from $41.15bn at the start of this month, figures…
CBN Approves Appointment Of Ahmad Abdullahi As FBNH Chairman
The Central Bank of Nigeria (CBN) has approved the appointment of Ahmad Abdullahi as non-executive director and…
FBN Holdings Notifies NGX, Investors Of Remi Babalola’s Resignation
FBN Holdings Plc has officially notified the Nigerian Exchange Ltd and the investing public of the resignation of…
Access Bank’s Shareholders Approve Proposed Holdco Structure
Shareholders of Access Bank Plc have given the nod for the bank to proceed with its proposed restructuring into a…
Bank Of England Raises Interest Rate To 0.25%
The Bank of England raised its main interest rate to 0.25% on Thursday as inflation pressures mounted in Britain.…
Bank of England rejects major overhaul of cash system
The Bank of England has told top banks to clarify by March, on how they…
Zenith Bank Cuts Cost Of Funds To Defend Profit In Q3
Zenith Bank Plc defied a generally rising cost of funds in the financial markets and cut interest expenses by close…
Banks’ Credit To Economy Hits N23.5tn, Says CBN
Banks’ gross credit to the Nigerian economy rose to N23.5tn in November this year, according to figures obtained…
A Total Of N6.16bn Was Paid As A Liquidation Dividend- NDIC
According to Punch Newspaper, The Nigerian Deposit Insurance Corporation said on Thursday that a total of N6.16bn…