Economic growth rests on banking sector strength – FITC
The Financial Institutions Training Centre has said the growth of the Nigerian economy depends on the strength and success of the banking sector. The Managing Director, FITC, Dr. Lucy Newman, said in a statement that the implementation of guidelines and effective.
PayChoice wins CBN EPIS Efficiency awards
The management of Upperlink on Monday announced that its bespoke self-service payment and collection infrastructure gateway, PayChoice, has won the Central Bank of Nigeria Electronic Payments Incentive Scheme (EPIS) Efficiency Awards.
AfDB to invest $35bn to boost economic growth in Africa
The African Development Bank (AfDB) has said it will invest a whopping $35billion over a period of 10 years to boost economic growth in the African continent, adding that the development will raise Africa’s GDP to above $5.6 trillion…
CBN braces for currency speculators
With 2019 elections spending expected to lead to a surge in liquidity and foreign exchange demand, the Central Bank of Nigeria (CBN) is stepping up efforts to curb the activities of currency speculators, who could be tempted to take positions on naira…
Kwara signs MoU with EcoBank on land administration
Governor Abdulfatah Ahmed of Kwara on Wednesday signed a Memorandum of Understanding (MoU) on land administration with EcoBank and Southgate Technologies Consortium. Speaking at the ceremony at Government House, Ilorin, Ahmed said the…
Ecobank Loses N207m To Suspected Fraudsters
A suspected fraudster, Okoli Nmesoma, 20, has been arraigned before a Lagos Magistrate’s Court for allegedly conniving with others still at large to hack into the mobile app account of the management of Ecobank Plc and unlawfully withdrew N207m which…
One million bank workers strike across India
Around one million bank employees went on strike across India Wednesday, a union representative said, demanding better pay and a government crackdown on companies who wilfully default on loan payments. Some 5,000 workers chanted slogans and waved
GTBank Implements PIN for 737 Transactions
Everything You Need to Know Renowned for its simplicity and efficiency, GTBank’s 737 USSD Banking Service is the most robust USSD banking platform in Nigeria, staying miles ahead of its competitors and setting the pace for innovation in mobile banking…
E-fraud: CBN calls for constant surveillance on bankers
In an effort to curb electronic frauds in the country, the Central Bank of Nigeria (CBN) has advocated constant monitor of bankers and other employees in the financial services sector. According to its Deputy Governor in charge of Operations, Mr Adebayo Adedibu,
Bank drags APC chieftain to court over N212m debt
Diamond Bank has filed a suit against a politician, Chief Fouad Ade-Oki before a Federal High Court, sitting in Lagos in a bid to recover a N212,051, 898.22 debt. Joined as co-defendants in the suit is Oki’s firm, Eko Akete Engineering and Construction Company.
Access Bank, UN, others to develop sustainable banking principles
Access Bank and twenty-five other leading global lenders from five continents are re-defining financial institutions’ purpose and business model to align the sector with the UN Sustainable Development Goals (SDGs) and the Paris Climate Agreement, the lender..
Fidelity Bank eyes increased retail market share
Fidelity Bank has said it will continue to increase the adoption and migration of customers to its digital platforms and increase its retail banking market share. The Chairman, Fidelity Bank, Mr. Ernest Ebi, at the annual general meeting of…
FSDA backs Diamond Bank’s financial inclusion project
The Financial Sector Development for Africa has reiterated its commitment to provide more support for Diamond Bank Plc on its financial inclusion drive. The bank said in a statement that the Director, Financial Services, FSD Africa, Paul Musoke, described the…
Cyber attackers claim to hit two big Canadian banks
Bank of Montreal (BMO.TO) and Canadian Imperial Bank of Commerce (CM.TO) said on Monday that cyber attackers may have stolen the data of nearly 90,000 customers in what appeared to be the first significant assault on financial institutions in the country…
AMCON Boss Lauds CBN for Compelling Banks to Lend to Real Sector
The Managing Director of Asset Management Corporation of Nigeria (AMCON), Mr. Ahmed Kuru, has commended the decision of the Central Bank of Nigeria (CBN) to take necessary measures to compel commercial banks to lend to the real sector…
CBN report outlines banks’ deposit, lending rates
The Central Bank of Nigeria (CBN) has made public, the deposit and lending rates obtainable in commercial and merchant banks. In a CBN report titled: ‘Deposit and Lending Rates in the Banking Industry’ obtained by The Nation, the apex bank said the…
Commercial banks, transporters, schools ignore proscribed IPOB order
Business operators and commercial areas opened for business on Thursday in Port Harcourt in defiance of a sit-at-home order issued by the proscribed IPOB. IPOB had been proscribed and declared a terrorist organiation by a Federal High Court in Abuja.
Biafra: Total compliance in Enugu as shops, markets, banks shut down
FOLLOWING the announcement by the Indigenous Peoples of Biafra (IPOB) for a sit at home protests in the Southeast and South-South regions of the country on May 30, in remembrance of men, women and children who died during the Biafran war, Enugu State
FG, World Bank In Anambra N9bn Erosion Control Projects
Reprieve last week came to some residents of Anambra state, whose communities have been threatened by erosion, as the state government has entered into partnership to fix the eroded sites. The state entered partnership with two foreign firms and…