Give long-term loans to manufacturers, MAN urges commercial banks
Manufacturers Association of Nigeria (MAN), Ogun Chapter, on Saturday urged commercial banks to give long-term loans to manufacturers to grow the nation’s Gross Domestic Product.
CBN’s Forex intervention responsible for GDP’s growth – World Bank
The World Bank has said that Nigeria’s Gross Domestic Product (GDP), which expanded by 1.4 per cent in the third quarter of 2017 (year-on-year); and the second quarter growth after the recession of 2016, reflects recovery in oil production, good performance in agriculture, and stronger non-oil industry growth due to the easing of Foreign Exchange….
Police ASP arrested over N40, 000 mobile banking extortion in Lagos
The Police Complaints Rapid Response Unit (PCRRU) has arrested an Assistant Superintendent of Police over allegations that he extorted the sum of N40, 000 from a victim via the Mobile Banking System in Lagos.
CBN Spends N6bn On ABU Business School
The Central Bank of Nigeria (CBN) spent about N6 billion to establish a business school in the Ahmadu Bello University (ABU), Zaria, Kaduna. The university’s Vice-Chancellor, Prof. Ibrahim Garba, made this known on Saturday at ABU’s 40th convocation ceremony held at its main campus, Samaru, Zaria.
CBN releases $288m as naira weakens to 364/dollar
The Central Bank of Nigeria on Friday injected $287.89m into the currency market to meet requests in four industries for dollars, extending efforts to boost liquidity and alleviate shortages. The four industries targeted were agriculture, airlines, petroleum and raw materials, the CBN said in a statement.
Farmers Laud CBN for Reducing Rice ImportationThe All Farmers Association of Nigeria (AFAN) has extolled the Central Bank of Nigeria (CBN) for drastically reducing the importation of rice, wheat and fish, thereby boosting local production of rice and other agricultural commodities.
Our target is zero electronic fraud in Nigeria’s banking sector– CBN DG
Chief Bayo Adelabu is a Deputy Governor of the Central Bank of Nigeria (CBN) in charge of operations. In this interview, he explains how the apex bank and other financial institutions are working to reduce banking fraud and ensure job security in the sector.
Industrialists back CBN on monetary policies
The retention of existing monetary policies in Nigeria for the next two months at the recent meeting of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) is in line with the recommendations of Abuja-based industrialists.
$60.3bn missing petroleum revenue: Reps to probe CBN, FIRS
APPARENTLY disturbed by the inability of the Central Bank of Nigeria,CBN, Federal Inland Revenue Service,FIRS to give account of an alleged missing $60.3 billion Petroleum Profit Tax and Royalty revenues, the House of Representatives Committee on Public Petitions yesterday resolved to conduct an investigative hearing into the missing money.
200 golfers CBN Governor’s Cup
No fewer than 200 players are expected to take part in the 2017 CBN Governor’s Cup Golf Tournament in Abuja on Saturday, the News Agency of Nigeria reports. The field of amateur golfers, which will mostly have members of the IBB Golf and Country International Club…
CBN, NDIC push banks to return to Northeast
There are ongoing moves by the Central Bank of Nigeria (CBN) and Nigeria Deposit Insurance Corporation (NDIC) to get commercial banks and microfinance banks return to the troubled North-East region, NDIC Managing Director, Umaru Ibrahim has said. Speaking Thursday at the ongoing NDIC Annual Workshop for financial journalists in Kano…
Photo: CIBN accredits Keystone Bank Training Academy
The Chartered Institute of Bankers of Nigeria, CIBN, has accredited Keystone Bank training academy.
Keystone flags off ‘I Bank with Keystone Bank’ campaign
Keystone Bank Limited has reaffirmed its commitment to deliver unparalleled products and services to its customers with the recent launch of its new brand campaign tagged: “I Bank with Keystone Bank”.
The campaign, according to a statement from the lender, is geared towards creating awareness for the corporate brand and positioning Keystone Bank as a partner and enabler.
119 bankers, others elected CIBN fellows
THE CHARTERED Institute of Bankers of Nigeria (CIBN) has elected 119 bankers, academics, consultants, civil servants among others, as Fellows of the Institute. Speaking during the 2017 Feloowship Investiture of the Institute in Lagos, CIBN President/ Chairman of Council, Segun Ajibola, described the awardees as seasoned individuals, who have passed through the Institute’s prescribed examinations.
FirstBank commits to fast, safe, seamless operations with USSD*894# service
First Bank of Nigeria Limited has remained committed to empowering the Nigerian populace with the *894# Quick Banking service as part of its financial inclusion drive. The service is set to deliver the power to bank anywhere and at anytime. It is quick, convenient and easy to use and beneficiary accounts are credited instantly with alert notifications.
FirstBank hosts 2017 International Sustainability Conference
The FirstBank Sustainability Centre has announced the fourth edition of the annual International Sustainability Conference – one of the activities and programs driven by the Centre. The FirstBank Sustainability Centre is a partnership between the Bank and the Lagos Business School (LBS) and the theme for this year’s Conference is“Partnership for Sustainable Development and Innovation”.
First Bank staff sent To Prison For Stealing N7.1m From customers accounts
A 26-year old staff of First Bank of Nigeria Plc, Anthony Oghenakhogie has been arrested and arraigned before a Lagos Court for allegedly stealing the sum of N7,127,032 from the dormant account of three customers of the bank with ATM Card and fled to Accra, Ghana.
FIBA Club tourney: NBBF hails First Bank
The Nigeria Basketball Federation leadership has showered encomium on First Bank Basketball Club following their bronze medal winning feat at the just- concluded FIBA Africa Women Club Championship held in Luanda, Angola.
First Bank: Revised investment forecast put to test
Despite the bullish investor sentiment at the backdrop of upwards review of Target Price (TP) by investment analysts, it seems that a rebalancing in the pricing of the stock of First Bank of Nigeria (FBN) Holdings has begun.
Sterling Bank Powers ‘Mums in Business’ Conference
One-woman proposition, a product of Sterling Bank, tailored specifically for women, is partnering with Motherhood In-Style magazine in its maiden edition of a two-day event tagged: Mums in Business Fair and Conference holding in Lagos.
Environmental Beautification: Cross River Partners Sterling Bank
Sterling Bank Limited has donated 700 pieces of customised reflective jackets to Cross River State for use by street sweepers as its contribution to the sustenance of the cleanliness and beautification of Calabar, the state capital.
Skye Bank highlights consumer power in TV show
Skye Bank Plc has released a new television commercial designed to leverage its robust, onmi-channel SkyeXperience platform to reinforce its pedigree as leader in the use of technology to facilitate financial services transactions.
Stanbic IBTC reports 78% increase in profit in Q3 2017
Stanbic IBTC Holdings Plc has posted a 77.7 percent increase in profit before tax to N45.65 billion from N25.7 billion for the nine month period ended September 30, 2016.
Zenith Bank’s Christmas lights dazzle Lagosians
A Christmas decoration package unveiled by Zenith Bank on Friday is attracting many people to the Ajose Adeogun-Eko Hotel Roundabout, Victoria Island, area of Lagos. It is a carnival of arts beaming with suave lights inspiringly installed on various objects lining the roads. The beauty of the spectacle is best appreciated at night…
Zenith Bank is Africa’s ‘Best company in sustainability reporting’
Zenith Bank has been named “Best Company in Sustainability Reporting in Africa,” at the 2017 Sustainability Enterprise Responsibility Awards (SERAS) Corporate Social Responsibility (CSR) awards held last weekend. In a statement, the Tier 1 lender pointed out that its 2016 Sustainability Report entitled, “Creating Wealth Sustainably” was the first Sustainability report in Nigeria, and indeed, the first from Africa’s financial services sector to have adopted the new Global Reporting Initiative (GRI) Standards.
GTBank Fashion Weekend Recap: Flower Wonderland To Leatherworks
One of the biggest events in the social calendar is the GTBank Fashion Weekend. The event ran from the 11th to 12th of November with master classes held in the morning and runway shows in the evening. At the master class, TY Bello talked about photography, and runway diva extraordinaire Miss J Alexander brought the extra oomph talking about the art of walking on the runway.
GTBank doubles stock value as investors go bullish
GT Bank’s share price has doubled in the last one year, leading investors to grin satisfactorily as there gambit on the stock seems to have panned out. The stock’s price has risen from N24.00 in January 2017 to N43.00 as at November 17, 2017, creating a capital gains opportunity of 79.2 per cent
NSE listing: Diamond Bank appoints Ubosi non executive director
In fulfilment of the post listing requirement of the Nigerian Stock Exchange, NSE , Diamond Bank Plc, has notified the capital market regulators, Securities and Exchange Commission and the Exchange, of the appointment of Mr. Christopher Ubosi as a Non-Executive Director.
Fidelity Bank Trains 200 Rivers Varsity Students on Entrepreneurial Skills
Fidelity Bank PLC recently organised a five-day training programme for 200 students of the Rivers State University, Port Harcourt, on entrepreneurial skills. The programme tagged ‘the Fidelity Youth Empowerment Academy’ was meant to train the students on enterprise and skills in partnership with Gazzelle Academy Vocational Centre…
Fidelity Bank disburses N2.5bn to 500 SMEs operators
Fidelity Bank Plc says it has disbursed the sum of N2.5 billion out of the Central Bank of Nigeria (CBN) N220 billion Micro, Small and Medium Enterprises Development Fund (MSMEDF).
Fidelity Bank Partners Africa’s Young Entrepreneurs on Youth Empowerment Nume Ekeghe
Fidelity Bank Plc has unfolded its partnership with Africa’s Young Entrepreneurs (A.Y.E) aimed at empowering youth entrepreneurs in Nigeria. The partnership agreement signed recently by both organisations will strengthen the ongoing efforts and initiatives of A.Y.E in developing and supporting future business leaders
Fidelity Bank moves to support FG financial inclusion with N110m promo
Fidelity Bank Plc on Thursday said that the bank would continue to introduce financial products that would increase Nigerians savings culture in line with the Federal Government financial inclusion initiative. Mrs Nneka Onyeali-Ikpe, the bank’s Executive Director, Lagos & South West, made this known at the first prize presentation of its “Get Alert in Millions Promo Reloaded” in Lagos.
Wema Bank expands operation to Bauchi
Wema Bank Plc has opened a new branch in Bauchi as it continued its expansion using a two-pronged approach of digital and physical branches. The bank in a statement yesterday, said it is relying on the near-ubiquity of a digital bank and the impact of physical branches in places where there are compelling business opportunities, to ensure it delivers value to all stakeholders.
FCMB Group completes 88.2% acquisition of Legacy Pension Managers
FCMB Group Plc has completed the acquisition of an additional 60 percent equity stake in Legacy Pension Managers Limited (Legacy). The acquisition, which increases the holding company’s interest in the company from 28.2 percent to 88.2 percent, was concluded at the Completion Board Meeting of Legacy on yesterday in Abuja.
No progress on $21m with Heritage Bank – NPA boss
Heritage Bank is still holding the sum of $21 million belonging to the Nigeria Ports Authority (NPA) and has refused to pay despite reminders, a House of Representatives panel has heard.
Nigeria Raised 105bn For Its SUKUK – Jaiz Bank
Managing director of Jaiz Bank Plc, Mr. Hassan Usman said many West African countries and companies may fall back on Sukuk bonds to raise non-interest funds to finance infrastructural development and corporate growth plans. Usman said there could soon be a frenzy of Sukuk issuance in West Africa.
Union Bank Learning Academy accredited by CIBN
Union Bank Learning Academy has been awarded full accreditation status by the Chartered Institute of Bankers of Nigeria (CIBN) in recognition of its compliance with regulatory standards and best practices.