Category: Capital Market/Banking

Access Bank introduces ‘Family Savings Scheme’ to boost savings
May 26, 2017 No Responses

Access Bank introduces ‘Family Savings Scheme’ to boost savings

Access Bank Plc has unveiled a new savings scheme tagged ‘Family Savings Scheme’ initiated to give its customers a boost in their savings. The exercise is in line with the Bank’s commitment to promoting savings culture among the populace. The...
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CBN retains interest rate at 14 %, injects $186.5m for invisible, SMEs
May 24, 2017 No Responses

CBN retains interest rate at 14 %, injects $186.5m for invisible, SMEs

THE Central Bank of Nigeria (CBN) on Tuesday kept its Monetary Policy Rate (MPR), its base interest rate, at 14 per cent. Speaking at an interactive session with Journalists after the Monetary Policy Committee (MPC) meeting in Abuja, CBN Governor,...
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FBN Capital Asset Management Business appoints Onyia as MD/CEO
May 24, 2017 No Responses

FBN Capital Asset Management Business appoints Onyia as MD/CEO

Mr. Ike Onyia has been appointed Managing Director/CEO of FBN Capital Asset Management, a part of FBN Holdings Plc’s Merchant Banking & Asset Management Group.  A statement explained that Mr. Onyia joined  the firm with over 20 years’ experience in.....
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Heritage Bank partners RIMAN on best practice in risk management
May 23, 2017 No Responses

Heritage Bank partners RIMAN on best practice in risk management

Heritage Bank Plc has entered into strategic partnership with Risk Management Association of Nigeria (RIMAN) to promote global best practices in the implementation of risk management for safer and stronger financial institution. President of RIMAN, Mr Jude Mon...
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S&P assigns B/B ratings, stable outlook on uba
May 22, 2017 No Responses

S&P assigns B/B ratings, stable outlook on uba

International Rating Agency, Standard and Poor’s (S&P) has assigned  its ‘B’ long term and ‘B’ short term global scale counterparty credit ratings to the United Bank for Africa Plc (UBA).      These ratings on the pan African financial instit...
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Forex: CBN releases list of 36 items
May 18, 2017 No Responses

Forex: CBN releases list of 36 items

The Central Bank of Nigeria (CBN) on Thursday released list of 36 items valid for access to foreign exchange in the foreign exchange market.   In a circular to all banks and the general public, CBN explained that the list of...
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Heritage Bank, Triton Aqua targets 15,000 tonnes capacity with N2b facility
May 10, 2017 No Responses

Heritage Bank, Triton Aqua targets 15,000 tonnes capacity with N2b facility

The N2billion long-term facility Heritage Bank Plc and Central Bank of Nigeria gave to Triton Aqua Africa Limited (TAAL), under the Commercial Agriculture Credit Scheme (CACS), has continued to boost job creation.   The Managing Director of Heritage Bank Plc...
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Ecobank receives Asian Banker’s Awards
May 10, 2017 No Responses

Ecobank receives Asian Banker’s Awards

Ecobank Nigeria and Ecobank Transnational Incorporated (ETI) microfinance banking subsidiary in Ghana, Pan-African Savings & Loans, have received remittance product of the year and the best microfinance product in Africa for 2017 awards respectively at The...
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CBN injects $81.2m for BTA, SMEs, others
May 9, 2017 No Responses

CBN injects $81.2m for BTA, SMEs, others

As a follow up to last Friday’s injection of $389 million into the retail segment of the Foreign Exchange Market (FOREX),  the Central Bank of Nigeria (CBN) on Monday,  intervened with the sum of $81.2 million in the invisibles and...
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Ecobank targets 40m customers in five years, retains 405 branches in Nigeria
May 9, 2017 No Responses

Ecobank targets 40m customers in five years, retains 405 branches in Nigeria

Ecobank Nigeria limited on Monday restated that it has invested in state of the art mobile application that is fast, accessible and gives better transaction incentive to the users, thereby making their banking activities simpler, accessible and cheaper and at....
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UBA revolutionises mobile payments with *919# magic banking
May 5, 2017 No Responses

UBA revolutionises mobile payments with *919# magic banking

 In line with its determination to dominate Africa’s mobile banking space with the introduction of cutting edge technology-driven products and services, United Bank for Africa (UBA) Group, leading African financial institution, has introduced a full-fledg...
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Ecobank to sack more workers
May 4, 2017 No Responses

Ecobank to sack more workers

Inline with plans to close some branches, Eco Bank has resolved  to sack more of its workers.   Under the arrangement, Eco Bank is to step up its digital platforms as part of measures to cut cost and ensure efficiency....
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CBN sanctions First Bank, GTB, others over alleged forex infractions
May 3, 2017 No Responses

CBN sanctions First Bank, GTB, others over alleged forex infractions

The Central Bank of Nigeria (CBN) on Tuesday barred 15 commercial banks from dealing in foreign exchange through the recently created Small and Medium Enterprises (SMEs) wholesale forex window.  According to the CBN, the decision which is with immediate effec...
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UBA posts N22.4b profit in first quarter
April 29, 2017 No Responses

UBA posts N22.4b profit in first quarter

For the first quarter ended March 2017, United Bank for Africa Group (UBA) recorded Profit After Tax of N22.4billion, indicating 32 percent year-on-year growth compared to N17.0 billion achieved in the corresponding period of 2016.   The group also sustained...
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