The Financial Derivatives Company Limited has described the documentation process required by banks for the sale of foreign exchange as cumbersome, saying this will pose a challenge to the public. The CBN Governor, Mr. Godwin Emefiele, had last week, at the end of the Monetary Policy Committee meeting, announced the stoppage of forex sale to […]Read More
Standard Chartered has appointed Lina Osman as its Regional Head of Sustainable Finance for Africa and the Middle East, as part of the bank’s ongoing efforts to provide sustainable financing solutions across its regional footprint. Osman has over 14 years of banking experience in Europe, the Middle East and Africa. During that period, Osman has […]Read More
Polaris Bank has said its ‘Refer & Win’ exercise will enable it to reward users of the digital banking platform, VULTe, up to N1,300 cash when they refer someone who opens an account and enrols on the platform. For every referral completed, both the referrer and referred account will be credited with N300 and N200 […]Read More
Banks credit to Nigeria’s private sector increased by N1.29 trillion in the first quarter of 2021 to stand at N31.44 trillion. This is according to data obtained from the Central Bank of Nigeria (CBN). This is in line with the CBN’s continued effort to compel Banks to boost their credit to the real sector of […]Read More
The Nigeria Deposit Insurance Corporation (NDIC) has said it will soon begin payment of dividends to uninsured depositors, creditors and shareholders of additional 14 banks in-liquidation. In a statement by its Director of Communication and Public Affairs Department, Bashir Nuhu, the NDIC said while stakeholders of eight closed banks will get their first round of […]Read More
Standard Bank Group was on Wednesday named African Bank of the Year by a leading publication in recognition of the banking giant’s achievements in fighting the Covid-19 pandemic and empowering women. African Banker magazine announced the winners of its 2021 Awards at a virtual ceremony held on the side-lines of the African Development Bank’s 2021 […]Read More
Some staff of Heritage Bank have allegedly protested at the Abuja residence of Senator Andy Ubah over debts they claimed he has owed the bank for some years. This was confirmed in a video circulated over some social media platforms on Monday. One of them, whose voice was captured in the video, said: “We are […]Read More
At the end of the trading session today, the NGX Banking Index posted a profit of +0.18%, opposing the significant loss posted at the last trading session of (-3.12%), putting the index point at 350.36. The market saw 2 gains, 5 stalemates, and 3 losses. Wema Bank posted a profit of +5.45%, posting price at […]Read More
Sterling Bank has called for monetization of intellectual property of creators in the creative industry. Mr Lanre Olalusi, head of Creative and Entertainment Business Financing of the Bank, made this remark while addressing participants at the 2021 edition of Legends of Nollywood Awards held in Lagos recently. “We have realised that this sector is crucial […]Read More
A Lagos High Court sitting in the Ikeja has sentenced former managing director of defunct Bank PHB, Francis Atuche to over 6 years in prison. In a judgment that lasted over 10 hours, Justice Lateefat Okunnu convicted Atuche alongside a former Chief Financial Officer of the bank, Ugo Anyanwu. The two were convicted on at least […]Read More
Stanbic IBTC Bank Plc said it emerged ‘Best Sub-Custodian Bank in Nigeria’ at the 2021 edition of the Global Finance Best Sub-Custodian Bank Awards, for the tenth year in a row. The Global Finance Best Sub-Custodian Bank Awards is organised by the Global Finance Magazine and recognises banks that provided astounding services in customer relations, […]Read More
FMDQ Securities Exchange Limited (FMDQ Exchange), through its board listing and market committee, has approved the quotation of Coronation Merchant Bank Limited ₦11.36 billion Series 18 commercial papers (CP) under its ₦100.00 billion CP issuance programme on its platform. Coronation Merchant Bank, in 2018, joined the league of other companies whose debt profiles had been […]Read More
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