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 people familiar…
Category: Banking
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 in…
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 of 2021…
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…
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 country’s central…
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. Somto Ifezua,…
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 obtained…
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 chairman of First…
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 Remi Babalola,…
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. Most…
Bank of England rejects major overhaul of cash system
The Bank of England has told top banks to clarify by March, on how they will keep enough cash…
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 from the…
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 was paid as…
CBN Frowns At Commercial Banks Over E-Naira
The Central Bank of Nigeria (CBN) has frowned at the commercial banks for not doing much to educate Nigerians about…
Effective Mechanisms To Insulate E-Naira From Hackers And Fraudsters Is In Place : CBN
The Central Bank of Nigeria (CBN), has assured that it has put in place effective mechanisms to insulate the e-Naira…
CBN Automates Forex Forms For BTA, Tuition Fee
Nigerian banks have informed their customers regarding the automation of Forms A and NCX for invisible and non-commercial exports transactions.…
South Africa President Urge Nigeria Banks To Set Up Branch In South Africa
President of South Africa, Cyril Ramaphosa has urged Nigerian banks to set up branches in South Africa as the country…
Data Suggest Forex Market Getting Out Of Shock
Notwithstanding the rattle by the newest variant of COVID-19, Omicron, which has raised fresh uncertainty, data and economists see near-term…
Banks’ Earnings Hit N2.64tn In Nine Months – Reports
Nine banks made a gross earning of N2.64tn in the first nine months of 2021 according to data collated from…
Currency In Circulation Rose By 4.58% To N2.97tn In October – CBN
The Central Bank of Nigeria (CBN) says the currency in circulation rose by 4.58% from N2.84tn in September to N2.97tn…
NDIC Pays 535,815 Closed Banks’ Depositors N11.76bn
The Nigeria Deposit Insurance Corporation has said that 467 banks have either been liquidated or undergoing the process of complete…
Softbank Fall Steepens After Report That Chinese Regulators Have Asked Didi To Delist From U.S.
Shares of SoftBank extended their losses on Friday after Bloomberg reported that Chinese regulators have asked Didi’s executives to formulate…
EFCC Traces Most Bank Frauds To One Set Of Bankers
The EFCC declared in Abuja on Wednesday that most frauds in the banking sector were perpetrated by insider Information, Communication…