Despite Stamp Duty Charge, PoS Transactions Hit N874bn In 3 Months
Despite the implementation of the stamp duty charge of N50 on Point of Sale transactions above N1,000, the value of…
Category: Banking
Unity Bank seeks more investment in creative industry
Unity Bank Plc has advocated more investments in the creative industry to drive its contribution to the Nigerian economy. Its Head,…
NOVA Merchant Bank records N1.65bn profit
NOVA Merchant Bank Limited says its profit after tax rose by 44 per cent to N1.65bn at the end of…
UBA records 13% earnings growth, N111bn profit
United Bank for Africa Plc, UBA, has announced its audited results for the full-year ended December 2019, recording impressive growth…
World Bank’s IFC partners Nigerian bank to boost trade with $40 million
With local businesses often complaining about the availability of credit, Coronation Merchant Bank and International Finance Corporation, an arm of World Bank, have partnered…
GTBank posts N198.85bn profit, declares N2.50 final dividend
Guaranty Bank Trust Plc has declared a profit after tax of N196.85bn for the financial year ended December 31, 2019…
CBN prioritises economic stability with Obiora as the new DG policy directorate
Dr. Kingsley Isitua Obiora, yesterday, in Abuja, formally assumed office as Deputy Governor of the Central Bank of Nigeria (CBN),…
Fidelity Bank rewards customers with N68m in GAIM 4
FIDELITY Bank said it has so far rewarded its customers with N68 million in its ongoing Get Alert in Millions…
Coronation Merchant Bank, IFC partner on N14.4bn facility
Coronation Merchant Bank said it partnered with International Finance Corporation to launch an N14.4bn Trade Finance Guarantee facility to boost…
Firstbank wins 2019 oil and gas banker award
FIRST Bank of Nigeria Limited was recently presented with the Oil and Gas Banker of the Year 2019 award at…
CORONAVIRUS: Oil price drops below Nigeria’s 2020 budget benchmark
Nigeria’s budget estimate appears threatened as oil price drops $5 below the 2020 benchmark on global fears over the impact…
Ecobank Nigeria appealing Tribunal Judgment on disputed FIRS tax liability
Ecobank Nigeria wishes to provide its position on a statement released by the Federal Inland Revenue Service (FIRS) on the…
Tribunal orders Ecobank to pay N1.6bn to FIRS
The Tax Appeal Tribunal, Lagos Zone has declared as illegal, null and void the decision of Ecobank Nigeria Limited to…
Central bank clarifies position on operation of domiciliary accounts
The Central Bank of Nigeria (CBN) says it has not prohibited the acceptance of foreign currency cash deposits by Deposit…
CBN sets dollar deposit, withdrawal rules for customers
The Central Bank of Nigeria (CBN) on Sunday said customers can deposit dollars into their domiciliary accounts but are not…
Excess charges: CBN return over N60 billion to customers
The Central Bank of Nigeria (CBN) disclosed that it had recovered on behalf of customers over N60 billion excessive charges imposed on…
Wema Bank clears the air on alleged contempt suit
The management of Wema Bank has cleared the air on the alleged contempt suit that was earlier filed against it by…
CBN’s forex intervention is counter-productive – Manufacturers
The Manufacturers Association of Nigeria (MAN) has lamented over the low rate that local raw materials are utilized in the manufacturing sector.…
Restructuring: HSBC to cut 35,000 jobs in next 3 years
Banking giant, Hongkong and Shanghai Banking Corporation (HSBC), says it plans to cut some 35,000 jobs worldwide in the next…
Keystone Bank partners NCF on tree planting campaign
KEYSTONE Bank Limited has partnered with the Nigerian Conservation Foundation (NCF) on a tree-planting campaign in Lagos State. The trees…
Olam, Massachusetts Institute collaborate on food workshop
Global agribusiness firm, Olam International, has announced a collaboration with the Massachusetts Institute of Technology Solve (MIT Solve) to design…
Diaspora remittance: Reps, NIDCOM reject CBN’s currency conversion policy
The House of Representatives and the Nigerians in the Diaspora Commission have criticised the Central Bank of Nigeria policy that…
CBN’s N154.38 billion T-bills auction over subscribed by 46% as rates fall marginally
The Central Bank of Nigeria’s (CBN) second Treasury Bills Auction of the year worth N154.38 was oversubscribed by 46% yesterday, with marginal fall…
Production, employment’s growth slow in January – CBN
Production level, new orders, supplier delivery time, employment level and raw materials inventories grew at a slower rate in January…
BREAKING: CBN restricts forex for milk import to Nestle, Chi, Friesland, 3 others
The Central Bank of Nigeria (CBN) has restricted foreign exchange for milk importation to six companies in Nigeria to boost…
Access Bank seeks listing of N15bn green bond
Access Bank Plc has announced its intention to list its N15 billion 15.50 percent fixed rate unsecured climate-credential green bond…
Ecobank holds digital skills training for female entrepreneurs
ECOBANK Nigeria has trained over 140 female business owners on digital marketing skills as part of its initiative to continuously…
100 tonnes of mutilated naira notes destroyed weekly—CBN
THE Central Bank of Nigeria (CBN) said that about 100 tonnes of bad naira notes were generated as waste and…
FCMB Deepens Empowerment of SMEs in Ogun State, as First Lady Commends Bank
First City Monument Bank (FCMB) has restated its commitment to the productivity and profitability of Small and Medium Scale Enterprises…
Fidelity Bank appoints new Non-Executive Director
Fidelity Bank Plc has appointed Alhaji Isa Mohammed Inuwa as an Independent Non-Executive Director. The appointment, which has been approved…