Daily Banking News Summary. Local and International Headlines 160519

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Local Headlines

N500bn scam: Sowore says CBN governor, Emefiele must be sacked, prosecuted

Omoyele Sowore, the presidential candidate of African Action Congress (AAC) and publisher of Saharareporters, has asked the Federal Government… Source Herald Read more

CBN requests for information on Payment System Vision 2030
In an effort to develop a new framework that will develop the agenda for Nigerian Payment System for the next ten years. Source Nigerian Banker Read more
Access Bank Ghana is ‘Bank of the Year’

Access Bank Ghana has emerged “Bank of the Year” at the maiden edition of the Women’s Choice Award Africa, held in Accra last week. Source New Telegraph Read more

CBN spent N2trn to control excess cash in banks
THE Central Bank of Nigeria, CBN,  spent N2 trillion to mop up liquidity in the banking system in 2018, up by 42 percent from N1.5 trillion in 2017. Source Vanguard Read more
MSMEs: BoI Bags Best Development Bank Award

The Bank of Industry (BoI) has been conferred with the best Development Bank Award by the International Bankers Magazine in recognition of its financial support to the nation’s entrepreneurs. Source Leadership Read more

UK to send bank regulators to emerging economies

Britain will expand a programme that sends Bank of England (BoE) regulators to help emerging economies reform their financial sectors. Source New Telegraph Read more

Banks’ Borrowing from CBN Decreases on Improved Liquidity
The level of banks’ patronage of the Central Bank of Nigeria’s (CBN) window to borrow cash to boost their operations decreased in 2018, Source This Day Read more
‘29 States, FCT Drawing From World Bank’s $142m Poverty Reduction Grant
Twenty -nine states of the country and the Federal Capital Territory (FCT), Abuja, are drawing from a World Bank’s $140 million grant. Source Daily Independence Read more
Second intra-African trade fair to generate $40 million, says Afreximbank

The second Intra-African Trade Fair (IATF2020) scheduled to take place in Kigali from 1 to 7 September 2020 will target the execution of Intra-African trade deals worth more than $40 billion. Source Business Day Read more

S&P: Islamic banks likely to remain resilient in 2019-20

Standard and Poor’ (S&P) Global Ratings has said that Islamic banks’ financial profiles, especially in the Gulf Cooperation Council (GCC). Source New Telegraph Read more

Federal Govt. approves $1bn loan from China Exim Bank

The Federal Executive Council (FEC) has approved the financing of the Gurara Hydro Power Project II by the Forum on China-Africa Cooperation (FOCAC). Source PM News Read more

NIMASA partners Customs, CBN, others on review of vessels import tax

The Nigerian Maritime Administration and Safety Agency, NIMASA, last week, disclosed that it was currently engaging the Central Bank of Nigeria,… Source Vanguard Read more

Senate Committee approves second term for Emefiele as CBN Governor

The Senate Committee on Banking, Insurance and other Financial Institutions on Wednesday approved a second term for the CBN, Governor. Source PMNews Read more

N20trn Stamp Duties Controversy: CBN Admits Collecting Only N35bn 
Lawmakers and participants at an investigative hearing into the alleged non-remittances of N20trn Stamp Duty collections were yesterday dumbfounded. Source Daily Independence Read more
Banking contest to intensify as new entrants’ threat looms

The already fierce competition in the banking industry is about getting even tougher, as the Central Bank of Nigeria (CBN) looks set to license additional lenders. Source New Telegraph Read more

Economy: Tough times ahead of Nigeria ― CBN Governor

The Governor of Central Bank of Nigeria(CBN) Dr Godwin Emefiele said on Wednesday that tough times are ahead of the country in view of a rapid increase. Source Tribune Read more

International Headlines

Can banks do Moore?

Hall of Fame football coach Lou Holtz is legendary for motivating his team with the words: “In this world, you’re either growing or you’re dying,. Source Forbes Read more

Trump administration may overhaul rules limiting bak overdraft fees

President Donald Trump’s administration is reviewing a 10-year-old federal rule that limits banks’ ability to charge overdraft fees without customers’ permission. Source STL Today Read more

Fraud tops SA’s list of banking complaints

Almost 50% of all complaints to the Ombudsman for Banking Services (OBS) in 2018 were fraud related, with internet banking fraud being the top. Source Business Day Read more

Tech in banking: In strong demand but adopted with care

ING’s 7th annual survey on attitudes towards financial technologies is a story of the steady adoption of mobile banking, albeit with some natural. Source ING Think Read more

Banking fraud complaints hit ‘all-time high’

Complaints about banking fraud and scams hit an all-time high in the past financial year, according to the UK’s Financial Ombudsman Service. Source Financial Times Read more

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