JPMorgan’s Jamie Dimon Warns of Rising U.S. Stagflation Risks Amid Economic Uncertainty
JPMorgan Chase CEO Jamie Dimon has cautioned that the U.S. economy could face the risk of stagflation, a troubling mix…
Category: Banking
MPC Holds Interest Rate at 27.5% as CBN Seeks Fiscal Support for Naira Stability
The Central Bank of Nigeria (CBN), at its 300th Monetary Policy Committee (MPC) meeting, opted to retain the benchmark interest…
CBN Reassures Nigerians of Banking Sector Stability Amid False Reports
The Central Bank of Nigeria (CBN) has moved to calm public fears about the safety of the country’s banking sector,…
FCMB Rewards 116 Customers in Millionaire Promo Season 10
In a heartwarming display of customer appreciation, First City Monument Bank (FCMB) has once again rewarded loyal customers through its…
Experts cautions against idle deposits as banks grow investment securities to N41.7trn
In the first quarter of 2025, eight major Nigerian banks, including Access Holdings, Zenith Bank, and United Bank for Africa…
CBN Sells N598.3bn NT-Bills Amid Liquidity Surge in the Market
On May 7, 2025, the Central Bank of Nigeria (CBN) held a successful Nigerian Treasury Bill (NTB) auction, raising a…
Entrepreneurs Applaud FCMB’s BEST Programme for Boosting Business Growth
First City Monument Bank (FCMB) is receiving widespread praise for its recent Business Empowerment, Sustainability and Training (BEST) Masterclass, which…
Government Achieves GH¢6.67bn in Treasury Bill Auction Oversubscription-GHANA
The government of Ghana successfully raised GH¢6.67 billion in its latest treasury bill auction, surpassing its target by a slight…
NDIC to Pay Full Liquidation Dividends to Depositors of 20 Failed Banks
The Nigeria Deposit Insurance Corporation (NDIC) has announced that it will pay a 100% liquidation dividend to depositors of 20…
FCMB Records N111.9bn Profit Before Tax for 2024, Announces Strong Growth
First City Monument Bank (FCMB) posted a remarkable Profit Before Tax (PBT) of N111.9 billion for the financial year ending…
FBN Holdings Reports 154% Surge in Net Interest Income Due to Rate Hike
FBN Holdings experienced a significant 154.5% rise in its net interest income for the year 2024, largely due to the…
Stanbic IBTC Allocates 27% of Rights Issue Proceeds to Support SMEs and Commercial Banking
Stanbic IBTC Holdings Plc has unveiled plans to invest 27% of the N148.71 billion raised from its ongoing rights issue…
FCMB appoints executive director
First City Monument Bank (FCMB) has announced the appointment of Felicia Obozuwa as its new Executive Director of Corporate Services…
Stanbic IBTC Pension Managers reintroduces self-service channels
Stanbic IBTC Pension Managers has announced the reintroduction of its self-service channels, aimed at enhancing customer experience and simplifying pension…
Nigerian Banks Borrow Record N131.42 Trillion From CBN Amid Tight Liquidity
In 2024, Nigerian Deposit Money Banks (DMBs) and merchant banks borrowed an unprecedented N131.42 trillion from the Central Bank of…
Macro Economic Challenges Thrust 12 Banks’ Operating Expenses to N5.18tn
Twelve Nigerian banks listed on the Nigerian Exchange Limited (NGX) reported a combined operating expense of N5.18 trillion in the…
FCMB Group Shareholders Approve N340 Billion Capital Raise
FCMB Group Plc has secured shareholder approval to raise N340 billion in capital to strengthen its banking subsidiary, First City…
UBA to Expand SMEs Lending, Invest in Digital Technology with N239.4bn Rights Issue
United Bank for Africa (UBA) Plc has announced plans to utilize the net proceeds of its ongoing N239.4 billion rights…
Sterling Bank honored for advancing tourism, transportation
Sterling Bank has been named the “Outstanding Banking Partner for Tourism and Transportation of the Year” by the Institute for…
CBN’s Market Discipline Boosts Banking Efficiency and Transparency
The Central Bank of Nigeria (CBN) has intensified efforts to enhance banking efficiency and transparency through stricter enforcement of market…
Fitch predicts tough 2025 for Nigerian banks, others
Fitch Ratings has projected a challenging year ahead for African banks, including Nigerian financial institutions, in its African Banks Outlook…
UBA Raises N239.4bn to Strengthen Lending and Global Expansion
United Bank for Africa (UBA) is set to raise N239.4 billion through a rights issue to support its growth and…
High currency in circulation fails to tame cash scarcity
Cash scarcity continues to trouble Nigerians despite the Central Bank of Nigeria (CBN) reporting a record high of N4.5 trillion…
Recapitalisation: ASSIBIFI president underscores impact on banking industry
Olusoji Oluwole, the president of the Association of Senior Staff of Banks, Insurance, and Financial Institutions (ASSIBIFI), discussed the ongoing…
Access Bank UK bolsters Europe-Africa trade, unveils Malta branch
Access Holdings Plc has announced the launch of The Access Bank Malta Limited, a fully owned subsidiary of The Access…
Tier-1 banks drive NGX market cap to N5.93trn YTD
Tier-1 banks in Nigeria have significantly contributed to the year-to-date (YTD) growth of the Nigerian Exchange Limited (NGX) market capitalization,…
Chukwu Calls for Tech Adoption in Nigerian Banks’ Recapitalisation to Boost Efficiency
Johnson Chukwu, Group Managing Director of Cowry Assets Management Limited, has urged the Central Bank of Nigeria (CBN) to utilize…
FirstBank unveils entertainment hub
FirstBank has launched Bluu TV, a new entertainment hub designed to support Nigeria’s creative arts sector, as part of its…
FCMB Group Plc Reports 67% Profit Before Tax Growth to ₦91.8 Billion
FCMB Group Plc has announced a 67% growth in Profit Before Tax (PBT) to ₦91.8 billion for the nine months…