Here is a summary of major banking new for the week. Some of which you may have missed.
1. EFCC arrests banker for swindling school in Rivers
The Economic and Financial Crimes Commission has arrested a banker with Access Bank identified as Cyril Ndakoji Amaechi for defrauding Jephthah International School. The EFCC told newsmen in Port Harcourt on Friday that Amaechi received N36,186, 012 (thirty-six million, one hundred and eighty-sixty thousand and twelve naira) from the school and use most of it to build his mansion.
2. Jaiz Bank’s capital base hits N15bn
The Chief Executive Officer and Managing Director of Jaiz Bank, Hassan Usman, has said that Nigeria will become one of the countries to successfully offer Sovereign Sukuk in local currency after the Federal Government floated around N100bn last Tuesday. The CEO was Speaking on Friday on the sidelines of Jaiz Bank’s Customers Forum in Ilorin, the Kwara State capital, Usman, who revealed that the institution’s capital base had reached N15bn, described one of the most important aspects of banking as having liquidity instrument.
3. First Bank drives convenience with new product offerings
To support lifestyles and provide convenience, First Bank Plc has unveiled the *894# Quick Banking mobile solution, accessible through all types of mobile phones for airtime purchase, money transfers, bill payments, purchase of goods and services and lots more. With Quick Banking, both existing and new customers have the opportunity to perform a wide array of banking services on their mobile phones.
4. FG Lost N70bn to failed banks
The federal government disclosed thursday that it lost over N70 billion to failed banks. The Accountant-General of the Federation, Alhaji Ahmed Idris, who made the disclosure yesterday in Abuja said over N70 billion of funds belonging to the government had been lost to banks.
5. Fortis Microfinance Bank records double digit growth in earnings
Fortis Micro Finance Bank (Fortis MFB) Plc has recorded double digit growth in earnings amid a mid a tough and unpredictable macroeconomic environment. The lender is increasingly taking banking service to those in the hinterland that were before now excluded as evidenced in the contribution of interest income on loans to gross earnings of the bank.
6. Islamic Banking is alternative to conventional banking – Kwara gov
Islamic banking provides a feasible alternative to conventional banking and is “open to all irrespective of race or religion”, Kwara state governor Dr. Abdulfatai Ahmed has said. Governor Ahmed said this in Ilorin at the Jaiz Bank’s customer awareness forum organized to sensitize the public and enlightened them on the importance of Islamic banking.
7. Agege-Pen Cinema Flyover May Claim GTB, Union Bank’s Buildings, Others
Agege-Pen CinemaLagos- Scores of commercial and residential property have been marked for demolition along Oba Ogunji/Agunbiade in Agege, metropolis of Lagos in preparation for the actual commencement of Agege-Pen Cinema flyover. The bridge, the officials of the Lagos State Government said, was designed to be 1,430 metres in length with ramp..
8. World Bank Prescribes Weather Forecast Infrastructure To Mitigate Economic Losses
The World Bank Group’s research shows that countries can save $13 billion annually by investing in hydromet, as well as saving $22 billion in losses to well-being, and $30 billion through a resulting increase in productivity. Hydromet or weather, water, and climate services affect the decisions people, communities and governments make every day…
9. FirstBank Targets Disbursement of N15bn to Private Schools
With the beginning of another school term and as students return to school after the long holidays, FirstBank of Nigeria Limited at the weekend disclosed that it had set aside N15billion through its various product offerings for private schools in Nigeria. The bank said it remained committed to supporting schools with their business requirements.
10. Zenith Bank, GEF, FOTE empower 100 women in Lagos
Zenith Bank Plc, Global Environment Facility (GEF) Small Grants Programme and Friends of the Environment (FOTE) have empowered over 100 women in Ibeju-Lekki Local Government of Lagos State. The empowerment programme titled ‘Campaign to promote LPG Use under FOTE Climate Change Initiative’, which started in July 2017, culminated with the workshop and sensitisation programme.
11. More Millionaires Emerge In Diamond “Xtraordinary” Wins Scheme (VIDEO)
Diamond Bank has reaffirmed its resolve to reward its loyal customers with the emergence of 22 more millionaires in its ongoing Diamond Xtraordinary Wins promotion. This brings to 35 the total number of millionaires produced by the Bank since July 2017 when the scheme began.
12. Firm sues Diamond Bank Plc for $45m breach of contract
An indigenous aviation Firm, Topbrass Aviation Limited, has slammed Diamond Bank Plc with $45m suit for breach of contract before a Federal High Court in Lagos, southwest Nigeria.
13. Access Bank withdrew Ekiti N852m SUBEB fund, witness tells panel
The branch manager of Ado Ekiti branch of Access Bank, Kayode Adejuyigbe, on Tuesday told a panel that the controversial N852 million Universal Basic Education (UBE) fund was withdrawn by his bank.
14. Infinia partners Access Bank strengthen footprint in Africa
Infinia Services and Solutions, a UAE-based loyalty management and payment solutions company, has stepped up its global presence as it introduced its services to the African market. To this end, it has entered into a partnership with Access Bank plc to launch the bank’s R.E.A.L loyalty programme. Access R.E.A.L is built as a pan-bank programme…
15. Access Bank Makes Strong Positioning Statement with Global Recognitions
The recent exploits by Access Bank Plc at the 2017 Karlsruhe Sustainable Finance Awards in Germany as well as its upgrade by Agusto to Aa- in its new rating and concludes that the feats have further confirmed the international status of the brand.
16. IAAF/AIMS certify route for Access Bank Lagos City Marathon
After six days’ hard work on and off the course, the Access Bank Lagos City Marathon route has been certified by the world governing body of athletics IAAF and the global body that governs marathons and road races, AIMS. The certificate was sent to the General Manager Access Bank Lagos City Marathon, Yussuf Alli, over the weekend. With the certification of its route by IAAF/AIMS, the Marathon has now joined the league of global elite marathons like New York Marathon, London, Berlin, Tokyo and others.
17. Stanbic IBTC, NIRSAL Launch N50bn Agriculture Finance Scheme
To diversify the revenue base of the country especially through agriculture, Stanbic IBTC and the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), yesterday launched a N50 billion agricultural finance scheme…
18. Stanbic IBTC clears backlog of financial report, grows 2016 PAT
Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has announced its audited financial statements for the year ended 31 December, 2016, clearing a backlog of financial reports occasioned by restrictions imposed by the Financial Reporting Council of Nigeria (FRC). The 2015 audited financial statements show the group’s profit after tax increased by 51%…
19. Stanbic IBTC attracts N413.62bn capital inflows in H1
Stanbic IBTC Plc facilitated $589.84 million, an equivalent of N216.47 billion, capital inflow into the country in the second quarter, Q2, 2017, ranking it first among financial institutions that imported capital into Nigeria.
20. Sterling Bank wins housing-friendly award
Sterling Bank Plc, has won the Housing Friendly Commercial Bank of the Year Award for its remarkable impact on housing delivery in Nigeria’s housing sector. The bank Recieved the award at the 12th edition of the Abuja Housing Awards in the Federal Capital Territory (FCT), Abuja recently,
21. JAIZ bank records 300% growth in 5 years
The Managing Director and Chief Executive Office of JAIZ bank, Hassan Usman, at the weekend disclosed that the bank has witnessed 300 percent increment since its establishment five years ago.