7 banks report N71.1bn e-banking income in 2017
Aggressive measures adopted by deposit money banks (DMBs) in the country to boost their digital products seem not to be yielding significant results yet as New Telegraph’s findings show that the industry’s five Tier 1 lenders as well as two leading Tier 2 banks.
Investors upbeat on Sterling Bank’s growth
Investors in Sterling Bank Plc shares are impressed with the bank’s stock recording over 52percent year-to-date (ytd) price gain amid its impressive earnings in full year 2017 and first-quarter (Q1) 2018 records. Remarkably, the bank reported a profit after tax of N8.5..
How Banks Exploit CBN’s Weakness To Impose Excessive Charges On ATM Users
Many Nigerian banks are ripping off customers making withdrawals via Automated Teller Machines (ATMs) by setting low maximum single withdrawal limits to cleverly sidestep the weak Central Bank of Nigeria (CBN) policy against excessive charges, SaharaReporters…
Again, CBN warns against naira abuse
The Central Bank of Nigeria on Tuesday cautioned Nigerians against mishandling naira notes, stating that the currency is a symbol national identity and pride. The Deputy Governor, Corporate Services of the apex bank, Mr. Edward Adamu, stated this in…
TSA: Reps ask Stanbic IBTC to produce approval to keep $4.9m
An ad hoc committee of the House of Representatives has asked Stanbic IBTC Bank to produce evidence of the presidential approval that allowed it to keep $4.9m outside the Treasury Single Account of the Federal Government. The committee, which is chaired by
AFDB approves $1.5m for solar power in Jigawa state
Board of Directors of the African Development Bank AfDB has approved a $1.5 million grant from the Sustainable Energy Fund for Africa SEFA to support the Nigerian government’s implementation of Phase 1 of the Jigawa 1-GW Independent Power Producer
Forex Stability, High Base Effect Push April Inflation Rate To 12.48
For the fifteenth consecutive month, the Consumer Price Index (CPI) which measures inflation increased by 12.48 percent (year-on-year) in April 2018. This is 0.86 percent points less than the rate recorded in March 2018 (13.34%). Increases, according to the
AGF, CBN, vendors clear NEMA of alleged misappropriation of N5.6bn relief material
Accountant General of the Federation and Central Bank of Nigeria (CBN) as well as other stakeholders involved in the supply of food items to internally displaced persons (IDPs) on Wednesday cleared National Emergency Management Agency (NEMA) of alleged
How PayDay loan from Access Bank empowers salary earners
PayDay Loan from Access Bank is the real deal for that time when it feels like the end of the month can’t come soon enough. Everyone’s been there – when it feels like the next paycheck is not going to arrive early enough to fix what needs fixing now. It’s usually why
Bank of England’s Deputy Governor apologises for ‘menopausal’ remark
Bank of England Deputy Governor Ben Broadbent apologised on Wednesday for describing Britain’s economy as going through a “menopausal” phrase, a comment that was roundly criticised.
Road Projects: Kebbi Govt secures $60 million World Bank loan
Gov. Atiku Bagudu of Kebbi, says on Wednesday the state government has secured a 60 million dollar loan from the World Bank for the construction of 500 rural roads across the state…
World Bank details sectors for $350m loan to Ogun
The World Bank has designed a five year investment plan centred on how the $350 million loan which the Ogun State Government is seeking from the global financial institution will be spent. According to the World Bank, the $350 million loan…
CBN injects $210m into interbank forex market
The Central Bank of Nigeria on Tuesday said it injected the sum of $210m into the interbank foreign exchange market to boost liquidity in the system. The CBN said it allocated the sum of $100m to dealers in the wholesale sector, while the Small…
Heritage Bank Moves To Reduce Nigeria’s $700m Fish Import Bill
Heritage Bank Plc, has said it is committed to the sustenance, growth and development of Nigeria’s agricultural sector, especially the country’s $700 million fish import expenditure bill. Divisional head of corporate communications, Heritage Bank, Mr. Fela Ibidapo,
Tech dynamism: Banks to face more regulatory pressure — SAS
As one of the most regulated industries in the world, banks are under pressure to not only comply with constantly changing regulations but also to modernise their systems, so that they can reduce compliance costs, improve efficiency and effectiveness in risk…
Diamond Bank: FBNQuest see likely downward forecast revisions
Following Diamond Bank’s Q4 2017 and Q1 2018 results, Analysts at FBNQuest have said that they expect likely downward revisions to consensus 2018 earnings forecasts. According to the experts, Diamond’s Q1 2018 results showed that earnings…
Milost: Like Unity Bank, like Japaul
Last week’s announcement by Japaul Oil Plc that it had pulled out of the $350 million equity financing deal with U.S.-based Milost Global Inc, seems to have validated concerns in some quarters about investments that the American firm reportedly planned for other..
Ecobank’s digital deals hit 77%’
Ecobank Ghana Managing Director, Dan Sackey has said that 77 per cent of all transactions with the bank currently, are digital. He told journalists at a forum in Lome that the Ecobank Mobile App was a key driver behind the 77 per cent digital transactions,
LEADERSHIP Wealth, Sun Trust Bank Partner PCNI
The LEADERSHIP Wealth, an entrepreneurship and vocational skills training organisation, in partnership with the Sun Trust Bank has signed a Memorandum of Understanding (MoU) with the Presidential Committee on North East Initiative (PCNI) to extend the.
Ecobank lauded on youth devt
The organisers of Okpekpe International 10 km Road Race, Pamodzi Sports Marketing, have lauded the consistent support of Ecobank Nigeria to the competition, saying the Bank has contributed immensely to the huge success recorded in the race.
Banking sector records 117.15% increase in overseas investment flow
Capital importation through the banking sector rose significantly by 117.15 percent to $1.18 billion in the first quarter of 2018 from $543.4 million in the fourth quarter of 2017 according to the latest report of the National Bureau of Statistics (NBS). Standard…
Banks’ credit to farmers drops by 10% in Q1 2018
Nigeria’s money deposit bank credit to farmers in the country has declined by N54.8 billion from N556.5 billion in q1 2017 to N501.7 billion q1 2018, showing a 10 percent year-on-year decrease, data from the National Bureau of Statistics (NBS) banking report Read more
Heritage Bank, Group Promote Trade
Heritage Bank Plc said it recently hosted the May 2018 edition of the banking technique and practice meeting of the International Chamber of Commerce Nigeria (ICC) The meeting which took place in Lagos, according to a statement from the bank, attracted…