Category: Capital Market/Banking

SEC Awaits Access Bank, Diamond Bank Merger Application
December 18, 2018 No Responses

SEC Awaits Access Bank, Diamond Bank Merger Application

The Securities and Exchange Commission (SEC) has been notified of the proposed merger between Access Bank Plc and Diamond Bank Plc. Confirming the development on Monday, SEC explained that the agency was aware of the intention of Access Bank and...
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Nigeria Boost Forex Market With $210m
December 12, 2018 No Responses

Nigeria Boost Forex Market With $210m

The Central Bank of Nigeria (CBN), in continuation of its intervention in the foreign exchange market, has injected another sum of $210 million to boost sales in the inter-bank segment of the market. In the sales conducted on Monday, December...
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41 Items: CBN To Sanction Firms, Directors
December 11, 2018 No Responses

41 Items: CBN To Sanction Firms, Directors

The Central Bank of Nigeria (CBN) is to sanction Banks, their customers, firms that abuse its policy restricting foreign exchange (forex) allocation to 41 items.  According to the CBN, culprits are to be investigated by the Economic Intelligence Unit of.....
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Ekiti Lifts Embargo On Ecobank, GTbank, Zenith Bank
December 10, 2018 No Responses

Ekiti Lifts Embargo On Ecobank, GTbank, Zenith Bank

Ekiti State Governor, Dr Kayode Fayemi has lifted the embargo placed on some banks by the immediate past administration.  The Fayose-led administration had in May 2016 placed a “non-patronage” ban on three banks- Ecobank, GTbank and Zenith Bank Plc an...
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National Microfinance Bank Takes off Next Month With N5b Capital Base
December 9, 2018 No Responses

National Microfinance Bank Takes off Next Month With N5b Capital Base

Barring last minute adjustment, National Microfinance Bank  will begin operations in January  2019  as part of measure to ensure more credits flow to the grassroots.   According to the Governor, Central Bank of Nigeria (CBN), Godwin Emefiel...
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AfDB Approves $200m For Nigeria’s power sector
December 4, 2018 No Responses

AfDB Approves $200m For Nigeria’s power sector

The Federal Government has secured a loan of $200 million to fund its electrification project. The African Development Bank (AfDB) Group on Monday said it provided $150 million for the project. The balance of $50 million was issued from the...
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CBN Injects $210 Million In Wholesale Segment, Others
November 28, 2018 No Responses

CBN Injects $210 Million In Wholesale Segment, Others

The Nigerian Apex Bank, the Central Bank of Nigeria (CBN) on Tuesday said it injected the sum of $100 million to dealers in the wholesale segment of the foreign exchange market. The CBN also made interventions of $55 million each...
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Heritage Bank Boss Seeks Sustained Human Capital Development In Financial Institutions
November 27, 2018 No Responses

Heritage Bank Boss Seeks Sustained Human Capital Development In Financial Institutions

The MD/CEO of Heritage Bank Plc, Ifie Sekibo has emphasized the importance for human capacity development amongst staff of financial institutions for improved operations.The MD who stated this at a 3-day yearly Internal Control and Audit Conference organised b...
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Again, MPC Retains Lending Rate At 14%
November 23, 2018 No Responses

Again, MPC Retains Lending Rate At 14%

The Monetary Policy Committee (MPC) for the 14th consecutive time, retained the Monetary Policy Rate (MPR) at 14 per cent. The Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele made this known at a news conference on Thursday, in...
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Nigeria Raises $2.86b Eurobonds
November 15, 2018 No Responses

Nigeria Raises $2.86b Eurobonds

The Federal Government on Wednesday said it had raised 2.86 billion dollars three-series international bond under its Global Medium Term Note Programme.  Mr Paul Abechi, Special Adviser to the Minister of Finance on Media and Communications disclosed this in ...
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CBN Boosts Forex Market With $210m
November 14, 2018 No Responses

CBN Boosts Forex Market With $210m

In its latest round of intervention, the Central Bank of Nigeria (CBN) on Tuesday, November 13, 2018, injected the sum of $210 million in the inter-bank foreign exchange market. Figures obtained from the CBN indicate that the authorized dealers in...
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Heritage Bank Canvasses Increased Support For Agriculture
November 13, 2018 No Responses

Heritage Bank Canvasses Increased Support For Agriculture

Heritage Bank Plc has called on government at all levels and deposit money banks to increase supports in agriculture, as it is the most resilient and important sector of Nigerian economy, despite underwhelming investment in the sector. The Executive Director.....
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Naira Appreciates Against Dollar
November 6, 2018 No Responses

Naira Appreciates Against Dollar

The Naira on Monday gained 10 kobo to exchange at N363.64 to the dollar at the investors’ window, stronger than N363.74 posted on Friday. Market turnover at the investors’ window stood at 231.24 million dollars, higher than 226.35 million dollars...
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TSA Cost Gulps N16b In Two Years
November 5, 2018 No Responses

TSA Cost Gulps N16b In Two Years

The Nigeria Government has spent N16 billion on Treasury Single Account (TSA) transaction costs in two years, Accountant-General of the Federation (AGF) Ahmed Idris has said. He said the government would no longer bear the service charge on all payments...
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