World Bank, FG team inspect FADAMA projects in Anambra
A TEAM of officials from the World Bank and the Federal Ministry of Agriculture and Rural Development yesterday began the inspection of projects being executed in Anambra State under FADAMA 111 Additional Funding.
CBN to continue supporting financial service penetration –Emefiele
The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, on Saturday said that the bank would continue to support measures that would deepen penetration of financial services in the country.
Total Direct Remittance To CBN Hits N1.8trn In 9 Months
Total direct remittances under the watch of Central Bank of Nigeria (CBN) in nine months of 2017 rises to estimated N1.8 trillion or $5.8 billion, a data obtained by LEADERSHIP has revealed.
CBN lists gains of Forex ban on 41 items
The Central Bank of Nigeria (CBN) has assessed its decision to restrict foreign exchange access to 41 hitherto imported items, describing it as one that has had a positive impact on the economy. The acting Director, Corporate Communications Department of the Bank, Mr. Isaac Okorafor, disclosed this on Friday at the CBN Fair, a sensitisation programme, held at the Cultural Centre in Calabar, Cross-River State.
CBN to draft framework on credit to SMEs
The Central Bank of Nigeria (CBN) has disclosed plans to draft a framework on credit to Small and Medium Enterprises (SMEs) aimed at improving credit to the sector.
CBN pumps $210m into forex marketThe Central Bank of Nigeria (CBN) yesterday injected $210 million into the foreign exchange market to sustain its liquidity. CBN Acting Director, Corporate Communications Department, Isaac Okorafor said $100 million was offered to the wholesale segment, while the Small and Medium Enterprises (SMEs) segment got $55 million. The invisibles segment comprising of tuition fees, medical payments and Basic Travel Allowance (BTA), among others was also allocated $55 million.
Forex reserves gain $455m in one week
The foreign exchange (forex) reserves sustained a 13-month weekly winning streak, adding $455 million in one week despite interventions in the market, shoring it up to $34. The development signals an assurance of Nigeria’s ability to honour its international obligations, experts said…
CBN Donates Multi Billion Naira Facility to ABU, Zaria.
As part of effort of creating conducive learning environment for postgraduate students,the Central Bank of Nigeria has donated hostel accomadation as centre of Excellence to Ahmadu Bello University, Zaria (ABU).
INEC, CBN inaugurate committee on election logistics management
The Independent National Electoral Commission (INEC) and the Central Bank of Nigeria (CBN) have inaugurated a committee to work out modalities for collaboration on key aspects of election logistics management. Mr Aliyu Bello, the commission’s Deputy Director, Voter Education and Publicity said this in a statement on Thursday in Abuja.
Abusers of naira notes risk six months in jail — CBN
The Central Bank of Nigeria (CBN) yesterday cautioned Nigerians against abusing the naira notes,warning that anyone caught would risk six months imprisonment or pay a fine of N50,000.
Edo Govt., CBN Vote N500m to de-risk Agric Investments
The Governor of Edo State, Mr. Godwin Obaseki has inaugurated a nine-man committee to oversee the N500 million Commercial Agricultural Credit Scheme (CACS) initiated in alliance with the Central Bank of Nigeria (CBN) to de-risk investments in agriculture in the state.
CBN pushes for 80% financial inclusion by 2020
The Central Bank of Nigeria (CBN) has urged the Nigeria’s Financial System Strategy 2020 (FSS 2020) team to work towards ensuring that 80 per cent of Nigerians are brought into the formal financial sector, mostly in the insurance and capital market.
House of Reps summons Customs boss, CBN, others over alleged abuse of waivers
The House of Representatives Committee on Customs has invited the Comptroller General, Hammed Ali, Accountant General of the Federation, Ahmed Idris and the Central Bank of Nigeria (CBN) over alleged abuse of waivers and bond on import duties. Also invited are bank executives, importers, inspection agents, SGS, Cotecna, Global Scan…
Ambode advises Buhari, banks on national economic growth
Lagos State Governor, Mr Akinwunmi Ambode has given insight into how Nigeria can revamp its economy and stimulate growth. The governor, who has been commended far and wide for his developmental strides in Lagos, identified job creation as a strong driver of national economic growth and tasked banks in the country to drive the process.…
CIBN chief stresses bank credit as critical for economic growth
A Professor of economics, Segun Ajibola, has stressed the importance of bank credit in engendering growth and development in an economy.The don, who also doubles as the President/Chairman of Council of The Chartered Institute of Bankers of Nigeria (CIBN), noted this at his Inaugural Lecture delivered at Caleb University, Imota, Lagos State.
NASS legislative aides protest against bank over delayed salaries
SOME National Assembly Legislative Aides yesterday expressed their frustrations over incessant delays in cashing monthly salaries remitted to Sun Trust Bank by management of the National Assembly and led a protest to the House of Representatives branch of the bank over delayed salaries.
Magistrate releases bankers in N20m fraud case
Lagos—A magistrate, Miss Olanike Olagbende, of Igbosere Magistrate’s Court in Lagos, yesterday, refused to try two bankers for alleged conspiracy to defraud a property counsellor of N20 million.
ICPC Arraigns Access Bank, MD, Two Others Over Refusal To Honour Commission’s Lawful Invitation
The Managing Director Of Access Bank, Mr. Herbert Wigwe, Access Bank Plc. and top management staff of the bank, Mrs. Neka Adogu have been arraigned on Thursday at the Abuja High Court in the Federal Capital Territory over criminal related issues.
Access Bank Lagos City Marathon: Rono, Masresha confirm entries
The list of world-class marathoners that will compete for medals and cash prizes at the February 10, 2018, Access Bank Lagos City Marathon keeps growing by the day. Kenyan Georgina Rono and Ethiopian Azalech Masresha are the latest to join the class of elite female runners.
Access Bank launches new 5-year growth strategy, targets number one rating
Access Bank Plc has unveiled its five-years strategy between the period of the year 2018 and 2022 and said it would stop at nothing but to be the most preferred bank in the country.
Access Bank Lagos City Marathon: Ambode’s vision key for race success – Ogba
The President of the Bobsled & Skeleton Federation of Nigeria, Solomon Ogba, has attributed the success of the Access Bank Lagos City Marathon to the vision of Lagos State Governor, Akinwunmi Ambode.
Sterling Bank, others flag off BRT e-ticketing
Sterling Bank Plc in collaboration with Primero, Lagos Metropolitan Area Transport Authority (LAMATA) and E-Purse Systems Limited has started the implementation of e-ticketing system for Bus Rapid Transport (BRT) in Lagos.
Syndicated loans: Our dealings are clean, legitimate – Sterling Bank
Sterling Bank Plc has said its dealings being a lead bank in an N8 billion syndicated loan-financing transaction between it and Grant Properties Limited, a property development company, owned by one Chief Olajide Awosedo, which spanned over a decade solely with depositors funds was transparent.
Sterling Bank donates items to Cross River
Sterling Bank Plc has donated 700 reflective jackets for gardeners, and street cleaners to the Cross River State government. The bank’s General Manager, Southsouth, Southeast and Mid-West, and Institutional Banking, Emmanuel Emefienim, while presenting the reflective jackets to Governor Ben Ayade, said the lender cares so much about the safety and security of those who are involved in keeping the environment clean.
Lagos Schools Win GTBank Super Cup
It was celebration galore for Lagos State representatives in the GTBank Super Cup as the duo of Ijaiye Housing Estate Grammar School, Ojokoro and Isale Eko Grammar School, Lagos Island emerged winners at the Agege Stadium on Wednesday.
GTBank emerges Nigeria’s best Bank
GUArAntY Trust Bank plc has been recognized as the 2017 ‘Bank of the Year Nigeria’ at The Banker Awards which held in London, United Kingdom. The Banker, a publication of the Financial Times, is the world’s leading monthly journal of records for the banking Industry, with over 90 years expertise in publishing development in the banking industry both in Africa and on the global scale.
Wema Bank Drags Cashier To Court For Stealing N.6m
A Cashier with the Badagry branch of Wema Bank Plc, Adeyemi Shola, 30, has been arrested and arraigned before a Lagos Magistrate Court for allegedly stealing the sum N625,515 from his employer’s account.
Analysts’ confidence in FirstBank share price justified, records 153.43% YTD appreciation
Like other banking stocks, the share price of FBNH has seen a significant appreciation in the year 2017. Yesterday, December 06, 2017, the bank’s share price hit N8.49k to push its YTD return to +153.43%.
FirstBank achieves PCI DSS Version 3.2 recertification
FIRST Bank of Nigeria Limited has successfully recertified to the Payment Card Industry Data Security Standard (PCI DSS) version 3.2, having been one of the first top-tier banks in Nigeria to obtain the PCI DSS certification in 2014. This recertification reaffirms the Bank’s leading position in the payment card industry in Nigeria.
FirstBank takes Firstmonie agent to neighbourhoods
Imagine a walking, talking ATM. No it is not a machine, Firstmonie agents are humans like you, except you can now perform a majority of your banking transactions with them without stepping into a banking hall. With this bespoke channel, FirstBank is committed to empowering individuals without bank accounts and bridging the gap between..
How First Bank is raising new entrepreneurs’
Ibukun Awosika, Chairman, First Bank Nigeria Plc, is passionate about entrepreneurship. She spoke with some young entrepreneurs and innovators on various business initiatives on the sidelines of Global Entrepreneurship Week with the theme ‘Igniting youth entrepreneurship in Nigeria by supporting innovators and aspiring entrepreneurs,’
First Bank tops as 14 banks incur N368.3b bad loans in nine months
The 14 banks in this report, controlling over 90 per cent of the Nigerian financial market, recorded N368.3 billion impairment losses for the Q3’17, representing an increase of 8.0 per cent from N341.1 billion in corresponding third quarter,Q3’16.
Zenith bank opens new head office in Accra
Zenith Bank, one of Africa’s foremost banks, has opened a new head office in Accra, Ghana. Located at Ridge, Accra, the new Zenith Bank head office is expected to be used for the bank’s expansion of its businesses in Ghana.
Practivate Nigeria partners Microsoft, Fidelity Bank, Smile, Wallet.ng to train 500 entrepreneurs
Practivate Nigeria has partnered with Microsoft, Fidelity Bank, Wallet.ng and Smile telecommunications to empower 500 entrepreneurs with technological skills and kits to grow their business.
Skye Bank takes ‘Ref ‘n’ Win’ Promo to Abia
Following the success it recorded at Obafemi Awolowo University recently, Skye Bank PLC, is set to storm Abia State Polytechnic, Aba, to promote its ‘Ref n Win’ campaign, which provides students and the academic communities an opportunity to experience convenient and accessible banking offerings at their doorstep.
Stanbic IBTC facilitates N6bn facility to Kellogg Tolaram
STANBIC IBTC Bank and Stanbic IBTC Capital have facilitated a N6 billion medium term facility to Kellogg Tolaram Nigeria Limited to finance the construction of a new cereal manufacturing plant in the Lekki Free Trade Zone, Lagos.
Real Estate: Stanbic IBTC, others list path to long-term development
Stanbic IBTC Holdings PLC and other players in Nigeria’s real estate industry are pushing for a long-term strategy for the sector to attract domestic and foreign institutional investments to establish sustainable foundation for the commercial real estate sector to support the nation’s economic growth, development and diversification efforts.
Stanbic IBTC Retains AAA National Fitch Ratings
IBTC Bank PLC and its holding company, Stanbic IBTC Holdings PLC, have retained their AAA national ratings by Fitch Ratings, the global leader in credit ratings, reaffirming their strong fundamentals and stability, especially the ability to meet their financial commitments as they fall due.
Union Bank team hails Asoju -Oba Table Tennis Cup
Players and officials of Union Bank Table Tennis Club have applauded the Chief Molade Okoya-Thomas family for their continuous sponsorship of the Asoju-Oba Table Tennis Cup after the demise of the sports philantropist. Bose Odusanya, who outwitted her Union Bank teammate, Alimat Ayila, in the final of the women’s singles inside the Chief Molade Okoya-Thomas Hall of the Teslim Balogun Stadium, Lagos, said she was eternally grateful.
Keystone Bank reiterates promises in new brand 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 is geared towards creating awareness for the corporate brand and positioning Keystone Bank as a partner and enabler that supports customers to achieve their goals through opportunities made available by the bank.
FCMB Drags 3 Managers To Court For Stealing N48.6m
The management of First City Monument Bank, FCMB, Lagos has dragged three Operation Managers attached to the Macarthy, Onikan, Lagos Island branch of the bank before a Lagos Magistrate Court for allegedly withdrawing the sum of N48,635,840 from the account of the bank.
Customers win big in FCMB promo
The First City Monument Bank Limited, through its reward scheme tagged ‘’FCMB Millionaire Promo Season 4’’, has rewarded and empowered a total of 2,576 of its customers within the eight months the promo ran. This was disclosed after the grand finale draws of the promo which took place at the four regions and 25 zones.
Learn Africa, Cadbury, FCMB lead N181bn stocks’ appreciation
As market hits 37-month high Stanley Opara Learn Africa Plc, Cadbury Nigeria Plc and FCMB Group Plc outperformed others stocks traded on the Nigerian Stock Exchange on Tuesday as the bourse’s market capitalization rose by N181bn. Learn Africa, Cadbury and FCMB appreciated respectively by 8.2 per cent, 7.4 per cent and 7.1 per cent…