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Banks In The News – 12th June 2018

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Coronation Merchant Bank Sponsors NSE-LSE Dual Listing Conference

Coronation Merchant Bank Limited has demonstrated its commitment to the growth and development of the capital market and Nigerian economy through its sponsorship of the 5th edition of the NSE-LSE Dual Listing Conference which held recently in Lagos,…

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Banks shying away from credit to private sector – FDC

There is a growing level of risk aversion by the Nigerian banks towards lending to the private sector, analysts at the Financial Derivatives Company Limited have said. The FDC, which is headed by Bismarck Rewane, a foremost economist, noted that credit to…

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Base effect drives further drop in inflation despite rise in prices — FSDH

FSDH Research has projected the inflation rate of May to drop to 11.5 percent year-on-year (YoY) from 12.48 percent recorded in April. According to the Research, the expected drop in inflation was as a result of the base effect in the Composite Consumer Price Index.

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AMCON can never recover all loans’

Managing Director of the Asset Management Corporation of Nigeria (AMCON), Mr Ahmed Kuru, held a news conference recently on ‘Debt Recovery, Nigeria Economy and the Corporation.’ He explained why AMCON stepped into some businesses, its…

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AfDB to invest $120m to boost cassava, others in Africa

The African Development Bank (AfDB) Tuesday said it would invest $120 million in the next 2-3 years to boost the production and transformation of cassava and eight other commodities on the continent. The Director for Agriculture at AfDB, Dr Martin Fregene,

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CBN Injects Fresh $210m Into FX Market To Meet Demand

The Central Bank of Nigeria (CBN) has made available the sum of $210 million, to meet customers’ requests in various segments of the foreign exchange market. The apex bank, in its desire to meet customers’ needs in the various segments of the market…

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PayChoice gets CBN award

The management of Upperlink has announced that its self-service, payment and collection infrastructure gateway, PayChoice, has won the ‘CBN Electronic Payments Incentive Scheme Efficiency Awards’. Upperlink got the innovation award by beating competing

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State govts depend too much on UBEC to finance basic education ―World Bank

THE World Bank has accused various state governments in Nigeria of over-dependence on money from the Universal Basic Education Commission, UBEC, to finance basic education in their respective states. The bank made the accusation in in Lagos at a recent…

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CBN, 4 banks to fund TellCo’s clean energy project

The Central Bank of Nigeria (CBN) is leading a consortium of four banks to finance the the clean energy project of TellCo Europe Nigeria to end the country’s energy poverty. According to its Managing Director/Chief Operating Officer, Mr Victor Fodeke, who…

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Banks’ Lending Drops By N1trn In Q1

In spite of the improvements in business activities as well as the recovery recorded by the Nigerian economy, banks have continued to be wary of lending to the public as the loan books of most banks declined in the first three months of 2018. While the total loan books

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Farmers’ little savings in Plateau spawn FADAMA microfinance bank —Mutla

Habila Mutla is the Managing Director, FADAMA Microfinance Bank (MFB), Jos, Plateau State. Barely two years after its take-off, the first farmers’ microfinance bank in Nigeria is recording a steady growth. In this interview, he explains how the bank has been helping…

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Sterling Bank’s Specta lends N2bn in 4 months

Specta, the on-line lending platform set up by Sterling Bank Plc four months ago, has advanced consumer loans worth N2.0 billion to salaried workers who are members of the lending platform’s pre-approved community. The loans were accessed in less than five…

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NIPOST, LAPO collaborate on agent banking

The Nigerian Postal Service said on Monday that it had reached an agreement with the Lift Above Poverty Organisation Microfinance Bank to support the financial inclusion campaign of the Central Bank of Nigeria. It said the partnership would reduce the savings gap…

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Fidelity Bank, Scib sympathise with Aboderin family

Fidelity Bank Plc and Scib Nigeria and Co Limited have offered sympathy to the family and management of Punch Nigeria Limited over the death of its Chairman, Mr Gbadebowale Aboderin. The Managing Director/Chief Executive Officer, Fidelity Bank Plc,…

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Firm wants collaboration for mobile banking

The Chief Executive Officer, Xpress Payment Solution, Mr. Oluwadare Owolabi, has said that it is relevant for stakeholders in the financial sector to collaborate in fast tracking the deployment of agency banking initiative across the nation. He stated this while speaking…

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Ecobank Gets e-Payment Award At Digital Pay Expo

Ecobank Nigeria has emerged winner in two award categories, e-Payment and Partnership, at the just-concluded Digital Pay Expo in Lagos. Digital PayExpo is bringing together stakeholders in digital financial services to discuss key issues affecting the…

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South Sudan to introduce bigger banknote

The Central Bank of South Sudan said on Monday it would introduce higher banknote of 500 South Sudanese pounds (SSP) amid rising inflation in the conflict-torn East African nation. The bank said the new bank note that features the image of the country’s…

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Afreximbank Plans $2bn Financing Deal

The African Export-Import Bank (Afreximbank) is arranging up to $2 billion in financing support to Angola, Benedict Oramah, its President has said. Oramah, who spoke in Luanda during an audience with President João Manuel Gonçalves Lourenço of Angola,..

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BDC operator in the dock for disappearing with his customers $50m, N22m

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December 11, 2019
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The Police Force Criminal Intelligence and Investigating Department has arraigned on Jude Muomah, a Bureau De Change (BDC) operator, before...

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