Category: Capital Market/Banking

‘Skye Bank is neither distressed nor liquidated’
August 18, 2016 No Responses

‘Skye Bank is neither distressed nor liquidated’

By Moses Ebosele –      The Central Bank of Nigeria (CBN) has refuted alleged liquidation of Skye Bank Plc.    In a statement issued on Thursday, CBN Acting Director (Corporate Communications), Isaac Okorafor, said the Bank is “neither distressed nor...
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CBN increases BDCs weekly sales to $50,000
August 17, 2016 No Responses

CBN increases BDCs weekly sales to $50,000

 The Central Bank of Nigeria (CBN) has increased the amount of foreign exchange that Bureaux De Change (BDCs) can access from $30,000 to $50, 000 per week.  Speaking in Abuja on Tuesday, Directors of CBN and some Managing Directors of...
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NDIC tasks Jaiz Bank on Corporate Governance
August 17, 2016 No Responses

NDIC tasks Jaiz Bank on Corporate Governance

By Bademi Johnson –   To successfully tackle various challenges facing Nigeria’s banking Industry, the management of Jaiz Bank Plc has been advised to strengthen its corporate governance mechanism. The Managing Director/Chief Executive Officer of Nig...
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Union Bank declares N8.7B profit in six months
August 16, 2016 No Responses

Union Bank declares N8.7B profit in six months

For the first six months of this year, Union Bank of Nigeria Plc recorded profit after tax of N8.7 Billion compared with N6.3 Billion within same period in 2015.   According to the Bank, total assets also increased from N1.046...
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First Bank seeks clarification on alleged N11.2B fraud
August 14, 2016 No Responses

First Bank seeks clarification on alleged N11.2B fraud

First Bank of Nigeria on Saturday denied any involvement in the alleged N11.2 Billion fraud at Nigerian Ports Authority (NPA).   An online medium, PREMIUM TIMES had on Saturday reported  that the newmanagement of the Nigerian  Ports Authority has uncovered....
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Diamond Bank explains online loan application platform
August 12, 2016 No Responses

Diamond Bank explains online loan application platform

By Moshood Aliyu –     Diamond Bank has raised the bar in Nigeria’s financial services sub-sector with the introduction of an online loan application platform that allows customers to request for a loan, monitor and receive automatic feedback on the...
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Zenith Bank posts 15.68 % drop in profit
August 12, 2016 No Responses

Zenith Bank posts 15.68 % drop in profit

For the half year ended June 30, 2016, Zenith Bank Plc reported Profit After Tax (PAT) of N44.8 Billion, down by 15.68 per cent when compared with N53.1 Billion recorded within same period in 2015.   Details of the result...
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SEC to stop dividend warrant in 2017
August 11, 2016 No Responses

SEC to stop dividend warrant in 2017

By Moses Ebosele –     AS part of measures to encourage investors in the Nigerian capital market to embrace e-dividend, the Securities and Exchange Commission (SEC) has concluded plans to abolish dividend warrant in June 2017.  Briefing Journalists i...
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‘Don’t sell more than $30,000 per week to BDC’
August 10, 2016 No Responses

‘Don’t sell more than $30,000 per week to BDC’

The Central Bank of Nigeria (CBN) on Tuesday directed Bureau De Change (BDCs) operators not to sell foreign exchange above two per cent margin of the buying rate. This is contained in a statement in Lagos signed by W.D Gotring,...
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Nigeria to raise $1B Eurobond
August 9, 2016 No Responses

Nigeria to raise $1B Eurobond

The Federal Government has concluded plan to raise $1 Billion from International Capital Market in 2016.   According to the Debt Management Office, the $1billion sale is the first tranche of a $4.5 billion Nigeria Global Medium-Term Notes Issuance Programme.....
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AfDB approves $9m equity investment for SME’s in Nigeria
August 9, 2016 No Responses

AfDB approves $9m equity investment for SME’s in Nigeria

(NAN) The African Development Bank has approved a nine million dollar equity investment in the Fund for Agricultural Finance in Nigeria (FAFIN) to provide expansion capital to agricultural small and medium-sized enterprises (SMEs). This was contained in a pres...
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Interswitch honours FirstBank for Sustaining 100 Million Monthly Transactions
August 5, 2016 No Responses

Interswitch honours FirstBank for Sustaining 100 Million Monthly Transactions

By Moses Ebosele –  Interswitch Group has honoured First Bank of Nigeria Limited  as the first financial institution in the country to achieve sustained transaction volumes of 100 million transactions.  The development was first recorded in December 2...
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First Bank reiterates support for customers
August 4, 2016 No Responses

First Bank reiterates support for customers

By Moses Ebosele –   First Bank of Nigeria Limited has reiterated its resolve to strengthen its commitment to provide best financial solutions for customers.   The Bank in a statement on Wednesday said it has through the years demonstrated an...
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Shareholders laud CBN policy on cheque deposit into savings account
August 4, 2016 No Responses

Shareholders laud CBN policy on cheque deposit into savings account

By Moses Ebosele –    Shareholder activist and Co-Founder of Nigeria Shareholders Solidarity Association (NSSA), Alhaji Gbadebo Olatokunbo, has commended   recent Central Bank of Nigeria (CBN) directive approving payment of cheques into savings accou...
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