Category: Capital Market/Banking

SEC Commences 100% Custody Requirement In CIS
September 20, 2021 No Responses

SEC Commences 100% Custody Requirement In CIS

As part of measures to protect investors, the Securities and Exchange Commission (SEC) has commenced implementation of 100 percent custody requirement in the Collective Investment Schemes (CIS) sector   In a statement on Sunday, the Director-General, Lamido Yuguda explained that the custody requirement covered all Funds...
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Ariyo Canvasses Support For CBN’s e-Naira Initiative
September 19, 2021 No Responses

Ariyo Canvasses Support For CBN’s e-Naira Initiative

A Fintech expert in Ibadan, Oyo State, Mr Olukayode Ariyo, has lauded the e-money initiative of the Central Bank of Nigeria, urging entrepreneurs to key into the new technology for profitability.  Ariyo, the keynote speaker and Managing Director, Global A...
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CBN, NDIC, UBA, Unity Bank, Heritage Bank, Others Support FICAN At 30
September 19, 2021 No Responses

CBN, NDIC, UBA, Unity Bank, Heritage Bank, Others Support FICAN At 30

Banking and Finance stakeholders are set to converge at the 2021 Annual Conference and 30th-anniversary celebration of the Finance Correspondents Association of Nigeria (FICAN). The Nigeria Deposit Insurance Corporation (NDIC) Securities and Exchange Commissi...
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Union Bank Appoints Aisha Abubakar Non-Executive Director
September 17, 2021 No Responses

Union Bank Appoints Aisha Abubakar Non-Executive Director

The Board of Directors, Union Bank of Nigeria has announced the appointment of Ms Aisha Abubakar as an Independent Non-Executive Director, effective Sept. 9., 2021  The Chair, Board of Directors, Mrs Beatrice Hamza Bassey, disclosed in a notice posted on....
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UBA’s Half-Year Profit Grows By 33% To N76.2b
September 15, 2021 No Responses

UBA’s Half-Year Profit Grows By 33% To N76.2b

The United Bank for Africa (UBA) Plc has announced its audited half-year financial results for the half-year ended June 30, 2021, showing impressive growth across all major income lines and performance indicators.  The pan African financial institution deliv...
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FirstBank Gets Global Finance Award
September 14, 2021 No Responses

FirstBank Gets Global Finance Award

First Bank of Nigeria Ltd has won the Global Finance ‘Private Bank of the Year 2021’ award.  The Deputy Managing Director of the bank, Mr Gbenga Shobo,  in a statement on Monday explained that the bank was bestowed the award...
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Fidelity Bank Grows PBT by 72.4% In Six Months
September 13, 2021 No Responses

Fidelity Bank Grows PBT by 72.4% In Six Months

Fidelity Bank Plc has posted a profit before tax (PBT) of N20.6 billion for the six months ended June 30, 2021. The Managing Director/Chief Executive Officer of Fidelity Bank, Mrs Nneka Onyeali-Ikpe, disclosed this in the bank’s audited half-year (H1)...
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Oscar Onyema, Nine Others Join WFE Board
September 10, 2021 No Responses

Oscar Onyema, Nine Others Join WFE Board

The World Federation of Exchanges (WFE) on Thursday elected ten Directors of the Board, including a new Chairman, Vice Chairman and Working Committee Chairman at the 60th General Assembly.  Elected Board of Directors, according to a st...
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CBN Tasks Banks, Others On Bulk Payment
September 9, 2021 No Responses

CBN Tasks Banks, Others On Bulk Payment

The Central Bank of Nigeria (CBN) has directed commercial banks and Payment Service Providers (PSPs) in the country to improve on all bulk payments and transfers systems to ensure transparency.  Mr Jimoh Musa, CBN’s Director, Payment System Management D...
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Stanbic IBTC Records 50.13% Drop In Profit
September 7, 2021 No Responses

Stanbic IBTC Records 50.13% Drop In Profit

Stanbic IBTC Holdings Plc on Monday posted a profit before tax (PBT) of N24.70 billion for the six months ended June 30, 2021.  This was stated in the bank’s consolidated and separate interim financial statements signed by the Company Secretary,...
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SEC To Reduce Cost, Assures Of Profitability In Two Years
September 6, 2021 No Responses

SEC To Reduce Cost, Assures Of Profitability In Two Years

The Securities and Exchange Commission has unveiled plans to reduce its operating costs in order to boost profitability within the next two years.The Director-General, SEC, Mr Lamido Yuguda who said this in Abuja, also noted that the Commission has been...
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LOTUS Bank Opens Three New Branches
September 4, 2021 No Responses

LOTUS Bank Opens Three New Branches

Third Non-Interest Bank (NIB) in Nigeria, LOTUS Bank Limited has commenced operations in three new locations in Lagos State.  Managing Director of LOTUS Bank, Mrs Kafilat Araoye, in a statement on Friday explained that with the ...
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Sterling Bank Unveils Free Banking Services For NGOs
September 4, 2021 No Responses

Sterling Bank Unveils Free Banking Services For NGOs

As part of measures to empower non-profit organisations in Nigeria, Sterling Bank Plc has unveiled Sterling CARES, a free banking service for Non-Governmental Organisations (NGOs). A statement issued on Friday by the Chief Executive Officer of Sterling One Fou...
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Access Bank Declares N86.93b Profit In Six Months
September 3, 2021 No Responses

Access Bank Declares N86.93b Profit In Six Months

For the six months ended June 30, 2021, Access Bank Plc has reported Profit After Tax (PAT) of N86.93 billion, against N61.03 billion in the comparative period of 2020.    The bank’s interim financial statement signed by the Company Secretary,...
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