Banks Loan To Private Sector Surged By N5.58 Trillion In 2021
Banks credit to the private sector hit its highest level in December 2021, reaching N35.73 trillion from N30.15 trillion recorded…
Category: Banking
Bankers In Nigeria May Declare Assets As Senate Moves To Amend 35-Year-Old BEDA Act
The senate on Tuesday considered a bill seeking to amend the 35-year-old Bank Employees Declaration of Assets (BEDA) Act 1986.…
FirstBank Felicitates With Junior Achievement Nigeria On Nobel Peace Prize Nomination
In recognition of the giant strides and efforts by Junior Achievement Worldwide – the parent body of Junior Achievement Nigeria…
CBN to stop forex sale to banks by December targets $200bn non-oil exports
The Central Bank of Nigeria has revealed that it will stop the sale of foreign exchange to Deposit Money Banks…
We Will Tell Them Don’t Come To Central Bank For Foreign Exchange Again: CBN To Banks
The Central Bank of Nigeria (CBN) has indicated that it would discontinue the sale of foreign exchange to Deposit Money…
Big Banks Seen Swallowing Smaller Loss-Making Rivals
Ratings agency Moody’s says small Kenyan banks suffering losses or facing insolvency are likely to become targets of acquisitions by…
Jaiz Bank Posts N4.21bn Profit In 2021
Jaiz Bank Plc has released its unaudited financial results for the period ended December 31, 2021. The results as released…
GTCO Acquires Investment One’s Pension, Funds Management Subsidiaries
Guaranty Trust Holding Company Plc says it has completed the acquisition of 100% shareholding in two subsidiaries of Investment One.…
SoftBank hit as profit, and Arm deal, collapse
SoftBank Group Corp reported a 97% drop in quarterly profit and the collapse of a deal worth up to $80…
Full List Of CBN 100 For 100 Policy Beneficiary
The Central Bank of Nigeria (CBN) has released the list of 28 companies that took home N23.2 billion from the…
Nigeria: Otedola Nominates Three Directors For First Bank Board
Billionaire Femi Otedola has made new nomination into First Bank barely two months after he became the single largest shareholder…
CBN Okays Ahmad Abdullahi Appointment As FBH Chairman
The Central Bank of Nigeria (CBN) has okayed the appointment of Alhaji Ahmad Abdullahi as non-executive director of First Bank…
CBN 100 For 100 Policy: 28 Companies Benefitted
Godwin Emefiele, governor of the Central Bank of Nigeria(CBN), says 28 companies benefitted from the first cycle of the 100 for…
FUGAZ investors gain over N4 billion combined during the week
FUGAZ an acronym for the five biggest banks in Nigeria by market capitalization appreciated by 0.16% as investors in these…
Manufacturers Association Urges CBN To Extend e-Invoice Implementation
The Manufacturers Association of Nigeria has urged the Central Bank of Nigeria (CBN) to extend the implementation of the E-invoice…
Goldman Sachs Forecast Five Rate Hikes In Federal Reserve This Year
Goldman Sachs is forecasting that the U.S. Federal Reserve will raise interest rates five times in 2022, versus four previously,…
Employee Of Deutsche Bank’s “Postbank” To Stage Strike
Some employees of Deutsche Bank’s Postbank will stage a strike on Monday to raise pressure on management to meet their…
How To Report Financial Institution -CBN
The Central Bank of Nigeria(CBN) has issued a guide on how aggrieved customers can complain about financial institutions such as…
China Securities And Regulatory Commission Is In Talks With Foreign Bank To Soothe Economic Concerns
The China Securities and Regulatory Commission (CSRC) met this week with the executives of top western banks and asset managers…
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 Nigeria…
Tesla Countersue Bank For Seeking Windfall
Tesla Inc on Monday fought back against JPMorgan Chase & Co over a disputed bond contract, countersuing the bank for…
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 (AfCFTA) secretariat officially…
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 business travel…
Parallex transforms from microfinance to commercial bank
Parallex Bank says it has officially transitioned from a microfinance institution to a commercial bank. The bank unveiled its new…
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 through investment in financial…
Nigeria: Association of Bureaux De Change Operators Of Nigeria Urge CBN To Remove Restrictions
Association of Bureaux De Change Operators of Nigeria (ABCON) has called on the Central Bank of Nigeria (CBN), to remove…
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 new…
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 in almost three years.…
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 online investment entity.…
‘No Staff Will Be Affected In 2022’ — Standard Chartered Confirms Closure Of Nigerian Branches
Standard Chartered Bank has confirmed the closure of 50 percent of its Nigerian branches. Dayo Aderugbo, Head, corporate affairs, brand…