MTN Shares Plunge By 23% As Banks Meet To Negotiate Fine
The shares of MTN Group yesterday plunged by as much as 23 percent to a nine year low, a day after the Central Bank of Nigeria (CBN) ordered the telecoms group to repatriate $8.1 billion illegally sent abroad. The demand by CBN is the latest setback for MTN in…
Investors selloff banks, MTN after CBN fines
Investors waited anxiously for market open today to sell down on affected banks and MTN after the apex monetary regulators announced hefty fines of up to N5.67 billion placed on four banks and an order for MTN to return to the country $8.1 billion improperly…
Diamond Bank responds to CBN’s fine sanction
Diamond Bank Plc, a tier two bank has responded in a press release to the fine of N0.25 billion from the Central Bank of Nigeria (CBN) yesterday. According to the bank, “This development does not impact your ability to continue to do business with the Bank…
FirstBank Digital Lab Convenes Its Second Fireside Chat
FirstBank Digital Lab will convene for its second Fireside chat on Friday, 31 August 2018. The Bank’s digital lab would play host to the event with the topic “Artificial Intelligence in Banking & Payments”, facilitated by Ope Adeoye, Managing Partner, 2iLabs….
Skye Bank drags Senkay Company to court over N9.9bn debt
Skye Bank Plc has put machinery in motion to recover a debt of N9,903,790,738.98 from estate management company, Senkay Nigeria Limited and its Directors, Mr Mofoluso Ayeni and Mrs Grace Ayeni by filing an application before a Federal High Court in Lagos,…
Access Bank to pay N7.23b interim dividend
Lender records N39.6b net profit Access Bank Plc will distribute N7.23 billion to its shareholders as interim dividend for the first half of this year as the commercial bank sustained modest growths in earnings. Shareholders will receive interim dividend per…
CBN assures Savannah Bank depositors of relief
Contrary to the perception in some quarters, the Central Bank of Nigeria (CBN) has not abandoned depositors of Savannah Bank and is making efforts to ensure that the issues surrounding the prolonged closure of the lender are resolved. The Acting Director,…
$8.1bn refund: Bankers move to save MTN
Chief executives of commercial banks in the country may have initiated moves to stave off the collateral consequences of MTN Nigeria’s, refund of $8.1billion, said to have been illegally repatriated by it in over nine years. Access Bank Chief Executive, Herbert Wigwe,.
CBN, business leaders in discussion with UK authority on Fintech regulation
An acceptable regulation of the Nigerian Financial Technology (Fintech) is under way following a meeting with Theresa May, British Prime Minister, UK financial control authority, the Central Bank of Nigeria (CBN), and business leaders on Wednesday…
All On partners AfDB, NDF, GEF, CIC to launch a $58 million Off-Grid Energy Access Fund
Nigerian off-grid energy investment company, All On, is partnering with the African Development Bank (AfDB); the Nordic Development Fund (NDF); Global Environment Facility (GEF); and Calvert Impact Capital (CIC) towards a $58 million first close for the…
AfDB, FAO collaborate on boosting agriculture investments in Africa
The African Development Bank (AfDB) and the United Nations’ Food and Agriculture Organisation (FAO) have agreed to strengthen joint efforts aimed at growing agriculture sector investments in Africa. Against this backdrop, the two organisations will raise up…
ISO reaffirms confidence in BoI’s processes
For adhering to the Quality Management System (QMS) principles in delivering top-class financial and advisory services in the country, the Bank of Industry (BoI) has been re-certified to be ISO 9001:2015 QMS-compliant by the certification agency. This ISO…
As NPF MFB Identifies CSR as Key To National Development
Kehinde Lawal Over the past decade, many high-profile corporations and business or industry associations have responded to civil society and consumer pressures, market opportunities, and new thinking on “good governance” and management by projecting…
