The Central Bank of Nigeria (CBN) wants more powers to be invested on the Chartered Institute of Bankers of Nigeria (CIBN) to de-certify bankers who are found guilty of unethical and unprofessional practices.
CBN sees rapid fall in inflation to single digit by June 2018
The Central Bank of Nigeria (CBN) is projecting that Nigeria’s inflation will fall rapidly to reach a single digit by the close of the second half of next year.
CBN deputy governor, Fidelity Bank MD, others get CIBN fellowship
The Deputy Governor, Financial System Stability, Central Bank of Nigeria (CBN), Dr. Okwu Joseph Nnanna, Fidelity Bank CEO, Mr. Nnamdi Okonkwo and over 50 Chief Executive Officers, Executive Directors and top Management staff of banks as well as academics will be formally conferred with the Fellowship and Honorary Senior Membership of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos on Saturday October 28, 2017.
THE World Bank has said that political stress in Nigeria and other countries may affect the global supply of crude oil.
World Bank earmarks $520m for rural roads
The World Bank has earmarked five hundred and twenty million dollars for rural roads infrastructure across selected states in the country. This was disclosed yesterday by the World Bank Country Director for Rural Access and Agricultural Marketing Project ( RAAMP ), Engineer Tunji Ahmed during a courtesy visit to Kwara State Governor, Dr Abdulfatah Ahmed..
Malnutrition: Kaduna to get $350m World Bank intervention fund
The wife of Kaduna state governor and chairperson of the state Emergency Nutrition Action Plan (KADENAP), Mrs. Aisha Ummi El-Rufai has disclosed that Kaduna is one of the states captured by World Bank to benefit $350million from its malnutrition intervention fund.
World Bank signs agreement to support housing finance in WAEMU region
The World Bank has signed a US $155m agreement with the West African Development Bank (BOAD) to assist the bank in financing housing in the West African Economic and Monetary Union (WAEMU).
It will be battle royale this weekend as the on-going Nigeria Bankers Games has entered its crucial stage at the Yabatech Sports Complex, Yaba and the Lagos Lawn Tennis Club, Onikan, Lagos. In the football event, battle for the semi-finals ticket will get tougher as Sterling Bank battles First Bank, while Fidelity Bank and Union bank for the semi-finals in Group B on Saturday.
Economy: Expert wants banks to invest in real sector
A financial expert, Mr Seyi Daramola, on Friday urged banks to help improve the economy by lending to the real sector
As NAFEX’s daily transaction sheds $16.42m Motolani Oseni The Nigerian currency, Naira, on Thursday, dropped slightly by 0.02 per cent to close at 305.75 to the US Dollar, against 305. 70 traded on Wednesday at the official interbank foreign exchange market, Daily Times check has revealed.
Banks insist on N360/$1 rate on I&E window
With foreign investors continuing to buy bonds at attractive yields, boosting dollar liquidity, the naira seems to have hit resistance at 360 per dollar on the Investors’ & Exporters’ (I&E) foreign exchange window as banks are not willing to bid the greenback below that level, traders said yesterday.
CBN injects $285.7m into Forex
The Central Bank of Nigeria (CBN), yesterday, injected a total of $285,759,449.10 into the Inter-Bank Foreign Exchange Market to meet requests in four sectors of the economy.
Naira appreciates as CBN injects $195m into forex market
Central Bank of Nigeria (CBN) on Monday, injected $195 million into the interbank foreign exchange market, which helped to shore up the naira value against the dollar. Figures obtained from the bank indicate that the CBN offered $100 million to authorised dealers in the wholesale segment of the market….
Improved Oil Export, Forex interventions, Others Raise Hope For Nigeria GDP Outlook – Report
Rebound in oil exports, pro-market GITEX policy reforms and new efforts by fiscal and monetary authorities at tackling deep-seated structural challenges have been highlighted as promising elements that would take Nigeria out of its economic quagmire, according to a recent report by AFRINVEST.
Investors’ liquidity in Forex window hits $3.373bn in 3 weeks
*Boosts investors’ confidence in forex. The Nigerian Autonomous Foreign Exchange (NAFEX) widow has received not less than $3.373 billion in just three weeks, indicating high level of investors’ confidence in the nation’s foreign exchange market, investigation by The Daily Times has revealed.
A gang of fifteen dare devil armed robbers attacked a branch of the Skye Bank Plc in Ifon, the headquarters of the Ose Local Government Area of Ondo State, killing two policemen attached to the bank and went away with huge amount of money running into millions.
Ondo bank robbery: Police arrest suspect while treating gun injury
The Ondo State Police Command has confirmed the arrest of one of the robbery suspects, who allegedly attacked a branch of Skye Bank Plc at Ifon in Ose Local Government Area of Ondo State on Thursday. Read more
CIBN grants Skye Bank’s Business School full accreditation
Skye Business School has been awarded full accreditation status as a full-fledged banking/finance, business and continuous human capital training academy by the Chartered Institute of Bankers of Nigeria (CIBN). The accreditation which is in collaboration with the Central Bank of Nigeria (CBN) is sequel to the conclusion of a rigorous vetting and accreditation process.
Union Bank celebrated the grand finale of its 100-year anniversary yesterday in Lagos with two events held at the Landmark Event Centre, VI. The day kicked off with a thought leadership conference tagged – The Next 100: A Call to Action.
Grows earnings to N365bn Access bank Nigeria Plc has given insight into its fourth quarter 2014, with its third quarter 2017 result which showed remarkable lower than expected loan loss provisions and significant other comprehensive income (OCI). Access Bank is a full service commercial bank with headquarters in Nigeria and with operations across Sub-Saharan Africa…
Access Bank partners German Chambers to support Nigerian companies
Economic relations between Nigeria and Germany received a boost in Lagos on Wednesday with the inauguration of the first German financial support and solutions desk for companies in the country. The desk was initiated by the Association of German Chambers of Commerce and Industry in partnership with Access Bank.
JP Morgan makes pick from Access Bank treasury room
JP Morgan, West Africa has succeeded in headhunting one of Access Bank plc’s brightest personnel, Dapo Olagunju, who was the Group Treasurer of the tier-1 lender. Olagunju, a celebrated treasurer who has been at Access Bank for over 14 years, has just resigned to become the managing director, West Africa at JP Morgan.
Why Access Bank Ghana, needs over GHS 400m capital
Access Bank Ghana, has given assurance of commitment to meeting regulatory requirement of the bank of Ghana, as the country regulates capital raising for deposit money banks in the country to GHS 400 million. The bank’s parent, Nigeria’s Access Bank Plc, majority shareholder of Access Bank Ghana, recently that beefing up the Ghana’s sub over..
Sterling Bank Plc has recorded sustained growth in earnings with 19 per cent increase in gross earnings for the third quarter ended 30 September 2017, boosted by 48.9 per cent increase in non-interest income. The bank’s gross earnings rose to N94.6 billion in the third quarter ended September 30, 2017 as against N79.7 billion during the corresponding period of 2016.
Sterling Bank Emerges Best Bank In Support Of Agriculture
Sterling Bank Plc, your one-customer bank, has won the Best Bank in Support of Agriculture Award at the Business Day Banking Awards 2017 held at the weekend in Lagos. The award is in recognition of Sterling Bank’s peerless support to the entire value chain in the agriculture sector of the economy.
Senator Commends Sterling Bank
The Chairman, Senate Committee on Land Transport, Senator Gbenga Ashafa, has commended Sterling Bank Plc for its intervention in Nigeria’s transport sector, saying such intervention from the private sector is what the transport sector requires to achieve the desired transformation.
Coronation Merchant Bank Appoints Executive Director
Coronation Merchant Bank has announced the appointment of Onome Komolafe as an Executive Director following the approval of the Central Bank of Nigeria (CBN). Prior to this appointment, Onome had worked as the Bank’s Chief Operating Officer (COO)/Group Head of Operations and Information Technology Division.
Fidelity Bank has taken a 5 per cent impairment charge on a N17.3 billion ($55 million) loan to Etisalat Nigeria, now called 9mobile, in line with a Central Bank of Nigeria (CBN) request, Reuters reported Fidelity Chief Executive, Nnamdi Okonkwo, as saying yesterday. Okonkwo said the lender was also raising provisions across its loan book.
Fidelity Bank signals strong returns to shareholders in 2017
Stock price gains 95% year-to-date By OKEY ONYENWEAKU With speculations of a weakening banking industry, some banks have actually pushed against worrisome macro-economic walls to signal hope to shareholders of a promising financial year end. Fidelity Bank which has traditionally been strong in commercial retail operations through efforts at providing superior customer service delivery..
Fidelity Bank’s profit before tax hits N16.2bn
FOLLOWING its impressive half year audited financial results, top Nigerian bank, Fidelity Bank has again posted another impressive financial performance for the nine-month period ended September 30, 2017. Details of the lender’s nine months financial.
FirstBank has pledged its support for the 2017 Annual Awareness Week of the Down Syndrome Foundation, which began on Monday, October 23; and ends on October 27, 2017. The 2017 edition is not the first time the bank is supporting this initiative, as the bank has over the last 8 years partnered and participated in….
What does it take to start—and, more importantly, sustain—a new fashion brand? This is a question that is pertinent on the mind of fashion entrepreneurs and in a wider sense, a question that people in every kind of business tend to ruminate over. Giles Deacon had to contemplate this question when he launched his eponymous fashion.
GTBank Posts N125.57bn In Nine Months
Directors of Guaranty Trust Bank Plc, have informed the management and stockbroker of The Nigerian Stock Exchange (NSE) in its un-audited financials for the nine-month ended September 30, 2017 that though it profit after tax improved significantly but there was a marginal drop in gross earnings.
GT Bank Fashion Week To Break First Edition Record
Guarantee Trust Bank Fashion Week has started plans to beat the record they set with the first edition of their fashion week. It has picked 11 and 12 of November for its 2017 fashion weekend. The first edition, which was described as a groundbreaking start took place at Landmark Event Center, Lekki.
SHAREHOLDERS of Wema Bank Plc have approved the plan by the bank to reduce its share premium capital by N40.172 billion to N8.698 billion from N48.870 billion.
By OKEY ONYENWEAKU Sweeping past recession troubles, United Bank for Africa (UBA) has grown its third quarter (Q3) 2017 profit by 33.2 per cent, one of the strongest year-on-year earnings growth rate amongst first tier deposit money banks (DMB’s) in Nigeria. UBA also pushed up its gross earnings by 25% from N265.5billion in Q3 2016.
Seven children with limb difference from different parts of Nigeria will be fitted with prostheses this year as Stanbic IBTC Holdings PLC undertakes its annual charity walk to raise awareness about supporting limbless persons. Coming under its flagship corporate social investment initiative, ‘Together 4 A Limb,’
In an effort to sustain its current focus towards intervention for the North-East rehabilitation, Unity Bank Plc says it has stepped up its support to Borno State Government with a recent donation of a vehicle to the State Universal Basic Education Board.
Unity Bank appoints Alhaji Aminu Babangida as Chairman
Unity Bank Plc on Thursday announced the appointment of Alhaji Aminu Babangida as its new chairman.
Unity Bank’s capital base hits N80bn
Unity Bank Plc’s capital base has hit N80 billion, up from N31 billion in 2014, Mr. Thomas Etuh, former Chairman, Board of Directors, has said. Etuh, the immediate past board chairman of the bank said in a post-retirement interview with journalists in Abuja that the growth was recorded under his watch, between 2014 and 2017.
FCMB Group Plc has reached agreement to acquire additional 60 per cent equity stake in Legacy Pension Managers Limited to increase FCMB’s majority equity stake in the pension firm to 88.2 per cent.
FCMB gets recognition in retail banking
The FCMB Group has got new recognition in the banking space as the group steps up efforts to boost its services. Two of its subsidiaries, First City Monument Bank and First City Asset Management Limited, emerged as the “Most Improved Retail Bank in Nigeria’’ and the “Best Managed Fund in Equity’’, respectively, at this year’s Business day banking award held in Lagos.
THE creative artistes, who participated in this year’s edition of Lagos Comic Con, got a booster from Heritage Bank Plc as it allayed their fears over inaccessibility of funds for operators in the industry.