S. African Investor Laps up Zenith, Access Bank Shares
Allan Gray Ltd., the largest manager of non-government investment funds in Africa, has increased its stake in Zenith and Access Banks. The South African investor, based in Cape Town, is betting on...
View ArticleFitch Downgrades FirstBank, GTB, Zenith, Diamond To Negative
Global rating agency, Fitch Ratings, has downgraded the rating of four Nigerian banks from “stable” to “negative” The banks are First Bank of Nigeria Limited, Guaranty Trust Bank Plc, Zenith Bank Plc...
View ArticleNigeria Raises N160bn Bonds at Yields below Inflation
The Debt Management Office (DMO) on Thursday said Nigeria raised N160 billion in local currency bonds at its second debt auction this year at yields lower than the inflation rate in Africa’s biggest...
View ArticleGuaranty Trust Bank Appoints New Executive Director
The Board of Directors of foremost African financial institution; Guaranty Trust Bank plc, has announced the appointment of Mobolaji Lawal as an Executive Director of the Bank. Prior to his...
View ArticleCBN – Render Forex Returns In Uniform Format
The Deposit Money Banks on Thursday has been directed by the Central Bank of Nigeria to render returns on foreign exchange in a uniform format. The apex bank has been under pressure in the last few...
View ArticleDiamond Bank Eyes 8m New Customers With Digital Strategy
Managing Director/Chief Executive, Diamond Bank Plc, Mr. Uzoma Dozie, says that the emphasis in Diamond Bank was no longer provision of banking services but empowerment of customers through digital...
View ArticleRIMAN Urges Diversified Forex Earnings
From the nation’s professional risk managers comes urgent appeal to the government to redouble efforts towards diversifying the foreign exchange (forex) earnings capacity of the country. Under the...
View ArticleBanks Partnership With Fintech Is Key To Drive Financial Inclusion
As financial technology (FinTech) gradually seeps into the growth strategies of traditional banks, expert have expressed concern that the two components would need to work together in order to drive...
View ArticleCBN Pegs Dollar Rate For School Fees & PTA At N375 Per $
In line with its determination to boost dollar supply in the economy as well as to bridge the wide gap between the interbank foreign exchange (FX) market and the parallel market, the Central Bank of...
View ArticleExperts Insist CBN Must Float Naira
Economic experts yesterday in Lagos insisted that the Central Bank of Nigeria (CBN) must float the naira to deliver the nation from the current economic quagmire, noting that the current policy of the...
View ArticleFCMB Gets New Md, As Ladi Balogun Becomes Group CEO
The board of FCMB Group Plc, on Monday announced the appointment of Adam Nuru, formerly Executive Director, Business Development of its flagship First City Monument Bank Limited, as new chief...
View ArticleCBN Moves To Ease Forex Scarcity
The Central Bank of Nigeria (CBN) yesterday ordered all banks to open foreign exchange (forex) kiosks at major airports and approved outlets.The order was issued barely 24 hours after The Guardian...
View ArticleWema Bank Takes Savings Products To LASU
Wema Bank Plc is promoting savings culture and digital banking experiences among the newly admitted students of Lagos State University (LASU). Speaking during the LASU 2017 orientation programme, held...
View ArticleCoronation Merchant Bank Posts N5.3bn Profit
Coronation Merchant Bank Limited said it sustained its tradition of impressive performance with strong financial results for the year ended 2016. The Group’s 2016 results showed that its profit before...
View ArticleAkwa Saving And Loans Bank To Sack 90 Staff
No fewer than 90 staff members of the Akwa Ibom State Government owned financial outfit, the Akwa Savings and Loans Limited have been pencilled down for sack in a renewed move to restructure and...
View ArticleCBN Obliterate Preferential Treatment For Manufacturing Sectors
Following its resolve to meet all unfilled foreign exchange (FX) demand in the country, the Central Bank of Nigeria (CBN) monday announced that it will no longer impose allocation/utilisation rules for...
View ArticleBank Worker Challenges Termination Of Appointment
A senior member of Ecobank Nigeria Limited has sued it before the National Industrial Court, (NIC), Lagos for wrongful termination of employment. The plaintiff, Gbite Mathew Adegoke is claiming N1.2...
View ArticleCBN Raises Intervention At InterBank Market To $6m
A day after fine-tuning the foreign exchange policy, the Central Bank of Nigeria (CBN) made good its pledge to increase daily intervention at the interbank market, raising it from $1.5 million to $6...
View ArticleMortgage Bank To Get N500b Recapitalisation
The Federal Mortgage Bank of Nigeria is to be recapitalised to the tune of N500 billion. The Minister of State for Power, Works and Housing, Mustapha Baba Shehuri, who dropped the hint yesterday during...
View ArticleCBN Intervenes In Forex Market With $500m
The Central Bank of Nigeria (CBN) Tuesday announced a $500 million intervention in the foreign exchange to further boost the liquidity of authorised dealers to meet end users. In a circular to all...
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