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Banking
Foreign Exchange: Naira plungs to N1348.63/$
The Nigerian Autonomous Foreign Exchange Market witnessed a historic low on Monday as the naira plunged to…
OPay Bolsters Security Measures to Combat Financial Fraud
Nigerian financial technology firm OPay has launched an array of security measures aimed at fortifying its…
Manufacturers Lament over FGN’s 7BN Debt
The Manufacturers Association of Nigeria (MAN) predicted a tough start for manufacturers in 2024, especially in…
NNPC and Marketers Clash Over Petrol Subsidy, PMA Proposes N1,200/Litre
Tensions have risen between the Nigerian National Petroleum Company Limited (NNPC) and fuel marketers, represented…
Nigeria’s External Reserve Declines by $77m- CBN
In December 2023, Africa's largest economy, Nigeria, witnessed a decline in its external reserves, dropping by…
Standard Chartered Bank Kenya Waives Upfront Fees for Online Money Market Fund
Standard Chartered Bank Kenya has announced the removal of the one percent upfront fee charge on its online money…
World Bank Engages Nigerian Government on Effective Public Fund Utilization
The World Bank has communicated its engagement with the Federal Government of Nigeria to ensure that public funds…
Economic Challenges Pose Strain on Nigerian Banks’ Operating Expenses, Warns…
As inflation and economic pressures continue to rise, Nigeria's deposit money banks (DMBs) are cautioned to brace…
Google’s Former Director for West Africa, Juliet Ehimuan, Joins Zenith…
Juliet Ehimuan, a distinguished figure in the technology industry and former Director of Google West Africa, has…
Nigeria’s Central Bank Introduces Forex Price Verification System
The Central Bank of Nigeria (CBN) has launched a Foreign Exchange Price Verification System aimed at facilitating…
Kenya Commercial Banks Raise Base Lending Rates for Seventh Consecutive Month
Kenyan commercial banks have increased their base lending rates for the seventh consecutive month, reaching 13.31…
NDIC Trains Law Enforcement Operatives to Probe Revoked MfBs and PMBs
The Nigeria Deposit Insurance Corporation (NDIC) has organized a workshop to train law enforcement operatives and…
Nigerian Government Aims for N100 Trillion Asset Under Management (AuM) Growth…
The Nigerian Federal Government, represented by the Ministry of Finance Incorporated (MOFI), has set a target to…
Nigerian Central Bank to Rename Official Forex Market as Nigerian Foreign Exchange…
The acting Governor of the Central Bank of Nigeria (CBN), Folashodun Shonubi, announced that the official foreign…
Central Bank of Nigeria Exempts Microfinance and Primary Mortgage Banks from Cash…
The Central Bank of Nigeria (CBN) has issued a circular exempting Primary Mortgage Banks and Microfinance Banks…
Central Bank of Nigeria Achieves 64.1% Financial Inclusion, Targets 95% by 2024
The Central Bank of Nigeria (CBN) has reported achieving a financial inclusion rate of 64.1%. The CBN aims to…
NOVA Merchant Bank Receives Shareholder Approval for Transition to Commercial…
NOVA Merchant Bank has obtained the approval of its shareholders to transition into a commercial bank during its…
NGX Reclassifies Fidelity Bank Plc’s Stock to Medium Price Category
The Nigerian Exchange Limited (NGX) has announced the reclassification of Fidelity Bank Plc's stock from Small…
Fidelity Bank to Raise Additional Capital through Public Offer and Rights Issue
Fidelity Bank plans to seek approval from its shareholders to raise additional capital through the issuance of…
NOVA Merchant Bank Unanimously Approved for Transition to Commercial…
Shareholders of NOVA Merchant Bank have given their unanimous approval to transition the bank into commercial…
Access Bank and Standard Chartered Bank Finalize Agreement for African…
Access Bank Plc and Standard Chartered Bank have reached an agreement for Access Bank to acquire Standard…
Financial Services Stocks Drag Nigerian Bourse, Market Capitalization Declines by…
The Nigerian bourse experienced a downturn last week as losses in FBN Holding Plc, Ecobank Transnational…
Improved Liquidity in Kenyan Market Lowers Interbank Rates
The interbank rate in Kenya has dropped from double-digit levels to 8.62 percent, following improved liquidity in…
Central Bank of Nigeria Upgrades eNaira App with NFC Technology
The Central Bank of Nigeria (CBN) has enhanced its eNaira app by integrating Near Field Communication (NFC)…
Access Bank Completes Acquisition of Majority Stake in Finibanco Angola…
Access Bank Plc, the flagship subsidiary of Access Holdings, has successfully completed its acquisition of a…
Ecobank Petitions FBN Holdings to Halt Approval of Otudeko’s Share…
Ecobank Plc has filed a petition to FBN Holdings, urging them to suspend the approval of Oba Otudeko's bid for 4…
BoG Anticipates that Inflation would Stay Over 10% Until 2025.
Barring any unexpected shocks, the Bank of Ghana (BoG) expects inflation to be on the decline through the end of…
Request for a Sh2.8 billion debt write-off led Equity to sue TransCentury.
TransCentury Plc was placed under administration after Equity Bank Kenya turned down a request to cancel more than…
Shareholders Approve an Additional N1.5 Billion Capital Infusion for TrustBanc
According to a statement from TrustBanc Holdings Limited, the extra N1.5 billion capital injection into TrustBanc…
CBN eliminates the savings and withdrawal caps on domiciliary accounts
The restrictions on domestic accounts have been abolished by the Central Bank of Nigeria.
The CBN said in a…