FirstBank’s profit growth, best among peers in 2017
First Bank Nigeria Holdings (FBN Holdings) Plc’s profit growth was the best among peers in 2017, thanks to lower impairments, cost curtailments, and income from short term government securities. FBN Holdings’ profit after tax surged by 226.80 percent to N40.11b
Ecobank financial inclusion initiatives attract Asian Banker awards
Ecobank Transnational Incorporated (ETI) and its two affiliate countries Nigeria and Ghana recently emerged winners in three strategic categories of The Asian Banker – West Africa Awards 2018. The annual awards saw ETI emerging the Best Financial Inclusion Initiative,.
Banks Must Repay Excess Charges With Interest, Says CBN
The Central Bank of Nigeria (CBN), said any bank that deducts monies illegally from a customer’s account for products and services would be forced to refund the money to the customer with interest. Mr Fada David, Consumer Complaints Management, Consumer…
Sterling Bank Launches Experience Centre
As part of Sterling Bank Plc’s commitment to promote innovation in banking and add value to the lives of its customers, the bank has launched a new banking initiative known as Sterling Bank Experience Centre,which is a digital and lifestyle experience centre…
CBN boosts foreign exchange market with $210 million
The Central Bank of Nigeria (CBN) on Tuesday boosted the inter-bank foreign exchange market with another $210 million, the bank’s acting Director, Corporate Communications, Isaac Okorafor, said.
$36.3bn spent on petroleum products’ importation in four years – CBN
The House of Representatives on Monday rejected the submission of the Nigerian National Petroleum Corporation on the fresh bid to carry out a turnaround maintenance on the country’s four refineries. A budget of $1.8bn is already set aside for the TAM…
World Bank officials to meet Osinbajo, Govs, Adeosun over projects
A World Bank Mission comprising of ten Executive Directors is expected in Nigeria on Wednesday to hold high-level discussions with the Vice President Yemi Osinbajo; Minister of Finance, Kemi Adeosun and some governors over the bank’s projects in the country…
CBN: 1.4bn unfit banknotes withdrawn in H1 2017
Contrary to the claim in some quarters, that it is not taking adequate steps to curb the circulation of unfit banknotes, the Central Bank of Nigeria (CBN) has said that it withdrew 1.4billion pieces of such notes in the first half of 2017. The apex bank disclosed this in its..
First Bank, 6 others axed for delayed financial results
The Nigerian Stock Exchange has fined seven financial institutions for not filing their financial results before the regulatory due date. The affected banks are: First Bank, Wema Bank, Sterling Bank, Sovereign Trust Insurance, Fidelity Bank, First City Monument Bank..
Amidst dirty Media War: 9Mobile Sale on Course, CBN, NCC Insist
The 9Mobile, operated by Emerging Markets Telecommunications Services Limited (EMTS), remains on course even though certain caucuses of the telecoms sector have been making a hullabaloo to the contrary. News story after news story in recent weeks…
CBN FX boost stabilizes naira at N362/$1
The Bureau De Change market sold dollars at an average of N362/$1, indicating continued stability of the naira in the Foreign Exchange market on Tuesday. This came as the Central Bank of Nigeria (CBN), same day boosted the inter-bank Foreign Exchange market
Unity Bank, UPDC, NPF MFB top losers, equities shed N17bn
Unity Bank Plc, UACN Property Development Company Plc and NPF Microfinance Bank Plc emerged as the top three losers at the close of trading on the floor of the Nigerian Stock Exchange on Monday. The equity market opened the week on a negative note as the NSE.
AfDB Challenges Csos On African Industrialisation
The African Development Bank (AfDB) has called on various Civil Society Organisations (CSOs) working in the continent to drive every effort towards ensuring African Industrialisation. Mr Celestin Monga, the Bank’s Vice President and Chief Economist, made
ICYMI: Buhari appoints Keyamo, six others as NDIC board member
President Muhammadu Buhari has appointed Mr. Festus Keyamo (SAN), and six others as members of the board of the Nigeria Deposit Insurance Corporation. Keyamo is to represent Delta State on the board. President of the Senate, Bukola Saraki, read the letter
Access Bank’s exposure to energy sector rises to N545bn
ACCESS Bank Plc’s exposure to the energy sector rose slightly in 2017, as its loans and advances to oil and gas firms, power and energy companies appreciated by 4.85 per cent to N545.308 billion as at the end of the year. According to data in its 2017 Annual Report.