Banking News Summary. Local and International Headlines 140519


Local Headlines

FirstBank gives 18 XploreFirst promo winners N2.7m scholarships

FirstBank of Nigeria Limited has splashed  scholarships worth N2.7 million on 18 customers under XploreFirst promo initiative to boost savings culture and promote financial inclusion among students. Source The Nations Read more

SEL Capital Expands, Eyes Merchant Banking Licence 

SEL Capital Limited has expanded its operations to provide more funding and financial advisory services to small and medium scale enterprises (SMEs) and investment advice to high net-worth individuals (HNIs).  Source This Day Read more

Fidelity Bank Pledges Support To BBA, ASPANDA Customers

The Managing Director of Fidelity Bank Plc, Nnamdi Okonkwo, has pledged greater support to its customers at the Balogun Business Association (BBA) Trade Fair complex in Lagos. Okonkwo told newsmen that the bank… Source Daily Independence Read more

First Bank Trains Senior Management Executives
In line with its commitment to capacity building, First Bank of Nigeria recently organised a Senior Management Development Programme (SMDP) for its senior executives. Source This Day Read more
Access,Diamond banks’ transfer charges remain after merger

Some customers of the recently merged lender- Diamond Bank Plc, have described as unlawful the charges levied on them (N52.50) for transfers to Access Bank accounts. Source The Guardian Read more

No Monies Missing, Stolen in Central Bank
The Central Bank of Nigeria (CBN) in a press released, debunked the insinuation in a video recording released by Sahara Reporters suggesting that there was a an attempt to cover up a fraud of N500 billion by the CBN governor and… Source Nigerian Banker Read more
Liquidity mop up, lower TB rate to persist as N173bn hit interbank

Central Bank of Nigeria, CBN, is expected to continue its liquidity mop operations this week as well as further reduce stop rates on treasury bills, TBs. Last week, the CBN, mopped up N630 billion from the banking system… Source Vanguard Read more

‘Banks should not joke with cybersecurity’

The banking sector is bracing for another phase that will lead to the emergence of mega banks, which will enable the industry take on huge project financing. But much as this may be the trend, the impact of digitalisation and… Source The Nation Read more

Nigerian Banks see margin expansion in Q1, 2019

Nigerian Banks are ingenious enough to overcome the wind of turbulence as they continue to see margin expansion in the first quarter (Q1) of 2019. Hitherto, they bought up local government bonds that offered among… Source Business Day Read more

State governments, banks, sign on for pilot of NIRSAL rating project

The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) has activated its Rating and Incentive pillars as part of its broad mandate to fix broken agricultural value chains and stimulate the flow of… Source Business Day Read more

Financial Inclusion: Edo Govt Supports 60 Youth With Start-Up Capital To Extend Banking Services To Rural Communities
The Edo State Government, through its job creation and skills development platform, EdoJobs, has completed training for 60 young people in Etsako West, Owan East and Owan West Local Government Areas, to provide financial… Source Leadership Read more
Farming panacea to poverty, unemployment in Nigeria – CBN
The Central Bank of Nigeria has said mechanised farming is the way out of poverty and unemployment that is currently confronting the country, as it urged citizens to strive to engage in productive ventures to improve their standard of… Source The Sun Read more
What to expect from CBN on Emefiele’s renewed appointment

Following the renewed appointment of the central bank governor Mr. Godwin Emefiele, analysts from Afrinvest, an investment banking and research firm have taken a holistic view of the monetary policy environment and concluded… Source Tribune Read more

Analysts predict fixed exchange rate retention by CBN

Analysts  at the Afrinvest west Africa have predicted the Central Bank of Nigeria (CBN) will in the next five years, retain the currency fixed exchange and allow gap between official and market-led rates. Source The Nation Read more

International Headlines

Americans don’t want a digital bank.

As legend (and Simple’s website) has it, back in 2009, Simple’s future founder Josh Reich emailed his friend and future co-founder Shamir Karkal after a frustrating banking experience and asked: Why is banking so complicated?… Source Forbes Read more

Two biggest innovation killers in banking today

At a time when banks and credit unions need innovative ideas, the internal use digital technology without proper oversight is causing high levels of employee stress. Positive customer experience increasingly depends... Source The Financial Brand Read more

How Mifid II hurts Europe’s Investment Banking

Mifid II is contributing to the slow death of European investment banking, and regulators must act. The directive, brought into force in early 2018, demands the completely unnecessary unbundling of the cost of research from… Source Financial Times Read more

Bank customers happier using branch+digitals than digitals only

D. Power data reveal that digital-only customers are significantly less satisfied than those who bank digitally and also use branches. A good in-person customer experience, including relevant advice, carries a lot of weight,... Source Financial Brand Read more

The banking industry has never faced a technology this destructive

We haven’t seen a technology that could change so many industries like Blockchain promises to, since the internet. People call Blockchain internet 2.0, meaning that we’re on a new step of developing our daily lives, work and how… Source Cryptopolitan Read more

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