EXPLAINER: What The Newly-Revised USSD Service Charge Means For Bank Customers In Nigeria
The Central Bank of Nigeria (CBN) and Nigerian Communications Commission (NCC) announced on Tuesday, March 16, 2021 that bank customers…
Category: Banking
Morgan Stanley Becomes First Major U.S. Bank To Offer Its Wealthy Clients Access To Bitcoin Funds: CNBC
Morgan Stanley has become the first big U.S. bank to offer its wealth management clients access to Bitcoin funds, CNBC…
Sterling Bank Appoints Two Directors
Sterling Bank Plc has announced the appointment of Ankala Prasad and Paritosh Tripathi as non-executive directors in replacement of Ramesh…
Excitement, Commendations As Zenith Bank Pays N94.2bn Dividend
Shareholders of Zenith Bank Plc yesterday approved the payment of proposed N94.19 billion dividend for the year ended December 31,…
Central Bank Of Nigeria Appoints KPMG Transaction Adviser For InfraCorp
The Central Bank of Nigeria (CBN) has engaged KPMG LLP as transaction adviser for the newly-created Infrastructure Corporation of Nigeria…
Central Bank Of Nigeria Introduces New Charges For USSD Services
The apex bank said from Tuesday customers will pay a flat fee of N6.98 per transaction every time they use…
Germany’s Bafin Submits Insolvency Filing To Wind Up Greensill Bank, Court Says
Germany’s financial regulator Bafin has submitted a filing to a court in Bremen to start insolvency proceedings for Greensill Bank,…
Brexit Won’t Mean Lower Capital For Insurers, Says Bank Of England
A review of rules for the insurance sector after Brexit will take time to complete, but it will not lead…
WTO Concerned About Nigeria’s Foreign Exchange Management – Okonjo-Iweala
The World Trade Organization director-general said on Monday that the WTO was concerned about Nigeria’s foreign exchange management and how…
USSD Disconnection: Emefiele, Pantami, Danbatta Meet Banks, Telcos Today
Governor of Central Bank of Nigeria, Godwin Emefiele, Minister of Communications, Dr Isa Pantami, and the Executive Vice Chairman of…
Nigeria’s NNPC, Accounting For Unremitted N4 Trillion Funds
A storm of controversy is raging again over the unremitted funds by the revenue-generating public agencies. At a recent…
Manufacturers Unable To Access Central Bank Of Nigeria’s N1tn Stimulus Facility—MAN
The Manufacturers Association of Nigeria has lamented the difficulty in accessing the Central Bank’s N1tn COVID-19 Stimulus for Manufacturing and…
Deutsche Bank 2020 Bonuses Jump 29% As Bank Turns Profit
Deutsche Bank paid 29% more in bonuses for the past year, the lender said on Friday, rewarding staff for a…
Nigerian Banks To Stop “Instant Completion” For Forex Transfers Online
Commercial Banks in Nigeria are informing customers that they can no longer make instant online transfers out of their domiciliary…
Central Bank Of Nigeria’s NIRSAL Reopens Portal For MSMEs, Individuals To Access Up To N25 Million
The Central Bank of Nigeria (CBN), through NIRSAL Microfinance Bank, has reopened its portal for Micro Small and Medium Enterprises…
Two Out Of Five Bank Workers Are Contract Staff – NBS
Two out of every five people working in Nigerian banks are contract staff, analysis of data provided by the National…
FCMB Introduces Paperless And Cardless Transactions At Branches, ATMs And POS Terminals
Customers of First City Monument Bank (FCMB) can now seamlessly carry out an array of transactions with just their fingerprints…
Japan Picks Nomura Asset CEO To Join Central Bank Board
Nakagawa would join a Bank of Japan (BOJ) board split between members who see more room to ramp up stimulus,…
Banks Woo Customers With New Central Bank Of Nigeria ‘Naira-4-Dollar’ Policy
Deposit Money Banks on Sunday started wooing customers ahead of the commencement of the latest ‘Naira-for-Dollar’ policy of the Central…
Breakdown Of Modalities To The New Central Bank Diaspora Forex Remittances
In what appears to be an attempt to incentivize dollar remittances by all means possible, the Central Bank of Nigeria…
Central Bank Of Nigeria Introduces ‘Naira 4 Dollar Scheme’ For Diaspora Remittances
The Central Bank of Nigeria (CBN) has announced the introduction of “CBN Naira 4 Dollar Scheme”, an incentive for senders…
Manufacturing Firms Borrowed N570bn From Banks In 2020 – CBN
Manufacturing firms borrowed a total of N570bn from Nigerian banks last year amid the economic fallout of the COVID-19 pandemic.…
China Tells Banks To Scale Back Lending To Contain Financial Bubble Risks: Sources
China’s regulators are telling banks to trim their loan books this year to guard against risks emerging from bubbles in…
Bank Of Japan Shares Hit Upper Limit For Fourth Session, Nearly Doubling This Week
Shares in the Bank of Japan, one of only a handful of central banks that are publicly listed, hit their…
African Development Bank Backs Digital Currencies, Seeks Gender Inclusion
The African Development Bank (AfDB) has thrown its weight behind digital currencies, putting in motion a machinery to build capacity…
European Central Bank Has Flexibility To Counter Undesired Yield Rise: De Guindos
The European Central Bank has the flexibility to counter any undesired rise in bond yields, the bank’s vice president told…
Bank Of England Official Warns Inflationary ‘Tiger’ Has Awoken, Sending Bond Yields Higher
U.K. bond yields rose on Friday after Bank of England Chief Economist Andy Haldane warned that inflation may become difficult…
Federal Government Seeks Asset Manager For N15tn Infraco Fraud
The federal government plans to hire an asset manager for its new Infrastructure Development Company (Infraco), designed to raise as…
Nationwide Outage Hits Fed Reserve Banking System
Yahoo Finance’s Brian Cheung joined Yahoo Finance Live to break down the details of Powell testifying on Capitol Hill in…