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Banking
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…
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…
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…
Olam, Massachusetts Institute collaborate on food workshop
Global agribusiness firm, Olam International, has announced a collaboration with the Massachusetts Institute of…
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…
CBN’s N154.38 billion T-bills auction over subscribed by 46% as rates fall…
The Central Bank of Nigeria’s (CBN) second Treasury Bills Auction of the year worth N154.38 was oversubscribed by…
Production, employment’s growth slow in January – CBN
Production level, new orders, supplier delivery time, employment level and raw materials inventories grew at a…
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…
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…
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…
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…
Fidelity Bank appoints new Non-Executive Director
Fidelity Bank Plc has appointed Alhaji Isa Mohammed Inuwa as an Independent Non-Executive Director. The…
Currency in circulation increases by N240 billion in one month
The currency in circulation increased by N240 billion between November and December 2019. This was stated in the…
Manufacturing PMI drops to 59.2 index points in January — CBN
The Central Bank of Nigeria, CBN, said that the Manufacturing Purchasing Managers Index, PMI, dropped marginally to…
Banks’ borrowing from CBN rises 215% to N19.5trn
BANKS’ borrowing from the Central Bank of Nigeria’s, CBN, rose by 215 percent year-on-year (y/y) to N19 trillion in…
Sterling Bank: Impressive growth in profit despite elevated OPEX
Sterling Bank (Sterling) released its FY 2019 UNAUDITED report, with Gross Earnings coming in flat at N149.5bn, in…
LAPO Microfinance Bank unveils ‘My Piking and I’
LAPO Microfinance Bank Limited has unveiled ‘My Pikin and I’, savings account designed to provide support for women…
Why bank customers abandoned 4.5 million current accounts
Bank customers have said that stringent procedures of commercial banks and charges have made them abandon current…
CIBN tasks manufacturers on backward integration for rapid growth
The Chartered Institute of Bankers of Nigeria (CIBN), has said the manufacturing sector has huge potential to…
Senate confirms Kingsley Obiora as CBN deputy governor
The Senate, yesterday, confirmed the appointment of Dr. Kingsley Obiora as a Deputy Governor of the Central Bank of…
Union Bank to sell UK subsidiary
Union Bank of Nigeria Plc has entered a share sale and purchase agreement to sell its United Kingdom subsidiary,…
Stanbic FY 2019: Modest earnings despite frail Q4 performance
Stanbic recently released its FY 2019 UNAUDITED results wherein Gross Earnings grew 5% y/y growth to N233.8…
UBA announces board appointments
The United Bank for Africa (UBA) Plc has announced the appointments of Aisha Hassan-Baba and Kenneth Orji as…
Firstbank wins mobile app, retail bank awards
First Bank of Nigeria Limited has been named 2019 “Best Mobile Banking App” and the “Fastest Growing Retail Bank”…
CBN raises Cash Reserve Ratio to 27.5%
The Central Bank of Nigeria has raised the Cash Reserve Ratio from 22.5 per cent to 27.5 per cent.
Briefing the…
Banking sector gross credit grows by N2trn in 7 months — Emefiele
The Central Bank of Nigeria governor, Godwin Emefiele (CBN) says the Banking Sector Gross Credit has grown by two…
Central Bank of Nigeria appoints directors
The Central Bank of Nigeria (CBN) has announced the appointment and redeployment of some directors.
A statement…
ACCA study sees low economic confidence, debt risks
A gauge of the nation’s economic confidence in the fourth quarter (Q4) 2019, showed not just a dip, but a decline…