Category: Capital Market/Banking

Citi Bank Nigeria Silent On Alleged Unauthorised Remittance Of FOREX
September 6, 2018 No Responses

Citi Bank Nigeria Silent On Alleged Unauthorised Remittance Of FOREX

A response letter on the alleged unauthorised remittance of foreign exchange on behalf of MTN has been forwarded to the Central Bank of Nigeria (CBN) by the management of Citi Bank.   However, the management of Citi Bank in a...
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UBA’s Leo launched on WhatsApp
September 4, 2018 No Responses

UBA’s Leo launched on WhatsApp

Pan-African Financial Institution, United Bank for Africa (UBA) has announced the commencement of its chat bank ‘Leo’ on the WhatsApp platform.   With Leo on WhatsApp, customers who are users and lovers of the app can now can perform basic banking...
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UBA Appoints Four New Directors
September 1, 2018 No Responses

UBA Appoints Four New Directors

The Board of Directors, United Bank for Africa (UBA) has  announced the appointment of four new members to its board, subject to the approval of the Central Bank of Nigeria(CBN).  The new board members are Mrs. Erelu Angela Adebayo, Ms....
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Nigeria Sanctions Standard Chartered, Stanbic IBTC, Diamond Bank, Citibank, MTN
August 30, 2018 No Responses

Nigeria Sanctions Standard Chartered, Stanbic IBTC, Diamond Bank, Citibank, MTN

The Central Bank of Nigeria (CBN) has imposed sanctions totaling N5.87 billion on four banks under its regulatory purview and asked same to refund the sum of $8,134,312,397.63 for what it described as ‘flagrant violation of extant laws and regulations...
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Naira Gains Marginally Against Dollar At Parallel Market
August 30, 2018 No Responses

Naira Gains Marginally Against Dollar At Parallel Market

The Naira on Wednesday gained 30 kobo to exchange at N359 to the dollar at the parallel market in Lagos, against N359.30 on Tuesday. The Pound Sterling and the Euro closed at N464 and N414, respectively. At the Bureau De...
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Nigeria Lifts Forex Market With $210m
August 29, 2018 No Responses

Nigeria Lifts Forex Market With $210m

  The Central Bank of Nigeria (CBN), has injected another sum of $210 million into the inter-bank Foreign Exchange Market, in its desire to ensure that forex is available for customers’ needs in various segments of the market. According to...
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80 Customers To Become Millionaires In UBA Wise Savers Promo
August 29, 2018 No Responses

80 Customers To Become Millionaires In UBA Wise Savers Promo

 In line with its tradition of deepening the savings culture by rewarding and encouraging its loyal customers, UBA has launched a new savings promo, UBA Wise Savers Promo. The promo which is scheduled to run till September 30, 2019, will...
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Diamond Bank Unveils Scholarship Scheme For Customers
August 28, 2018 No Responses

Diamond Bank Unveils Scholarship Scheme For Customers

Diamond Bank Plc has announced plans to reward holders of its youth banking accounts with scholarships worth N3million.  Titled, the Diamond Future and Cool-Teens Scholarship offer, the campaign is targeted at parents with children in pre-school, primary and...
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Nigeria Lifts Forex Market With $543m, CNY 63m
August 25, 2018 No Responses

Nigeria Lifts Forex Market With $543m, CNY 63m

In another major round of interventions, the Central Bank of Nigeria (CBN) on Thursday, August 23 and Friday, August 24, 2018, injected a total sum of $543.22 million and CNY 63.21 million into the inter-bank foreign exchange market. At the...
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Nigeria Unveils Agenda For Long-Term Credit To Agriculture, Manufacturing
August 24, 2018 No Responses

Nigeria Unveils Agenda For Long-Term Credit To Agriculture, Manufacturing

To consolidate and sustain the nation’s economic recovery, the Central Bank of Nigeria (CBN) is to increase the flow of credit to the real sector of the economy.   It will be recalled that the CBN Monetary Policy Committee (MPC), at...
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Naira Weakens Against Dollar At Parallel Market
August 24, 2018 No Responses

Naira Weakens Against Dollar At Parallel Market

The Naira on Thursday lost 30 kobo to exchange at N358.30 to the dollar at the parallel market in Lagos, weaker than N358 traded on Wednesday. The Pound Sterling and the Euro closed at N475 and N418, respectively. At the...
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1,000 Entrepreneurs Storm Heritage Bank’s Next Titans Audition
August 21, 2018 No Responses

1,000 Entrepreneurs Storm Heritage Bank’s Next Titans Audition

The Lagos audition of the Heritage Bank Plc’s entrepreneurial reality TV show, popularly called the Next Titan, was held with no fewer than 1000 contestants in attendance.  The enthusiastic contestants trooped to Excellence Hotel, Ogba, venue of the auditio...
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ATM Records N1.603B Transactions In Q2
August 21, 2018 No Responses

ATM Records N1.603B Transactions In Q2

Nigeria recorded not less than 217,417,961 volume of Automated Teller Machine (ATM) transactions valued at N1.603 billion in Second Quarter, the National Bureau of Statistics (NBS) has said.  According to the report, NBS a total of 509,668,433 transactions va...
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Diamond Bank Disburses N1B To SMEs
August 21, 2018 No Responses

Diamond Bank Disburses N1B To SMEs

Diamond Bank Plc  has announced its disbursement of over N1 billion under the cash flow-based SME lending scheme.   Launched in January 2017 in partnership with the Women’s World Banking (WWB), the scheme features the Cash Flow-based MSME Lending Methodolo...
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