Category: Capital Market/Banking

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 Department, gave...
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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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CBN Partners Bitt Inc On eNaira
August 31, 2021 No Responses

CBN Partners Bitt Inc On eNaira

The Central Bank of Nigeria (CBN)  has announced the formal engagement of the global Fintech Company, Bitt Inc. as the Technical Partner for its digital currency, eNaira.   Director, Corporate Communications of the Bank, Mr Osita Nwanisobi ...
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Zenith Bank’s Profit Grows By 2.6% In Six Months
August 28, 2021 No Responses

Zenith Bank’s Profit Grows By 2.6% In Six Months

Zenith Bank Plc has posted a profit before tax (PBT) of N117.05 billion for six months as of June 30, against N114.12 billion achieved in the comparative period of 2020.  This was stated in the company’s interim report signed by...
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CBN’s Approval Delays Stanbic IBTC H1 Result
August 25, 2021 No Responses

CBN’s Approval Delays Stanbic IBTC H1 Result

Stanbic IBTC Holdings Plc on Tuesday explained the delay in the release of its half-year audited result for the period ended July 31, 2021.  Company Secretary, Mr Chidi Okezie in a notice posted on the website of the Nigerian Exchange...
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NGX Group Commemorates 60th Anniversary
August 25, 2021 No Responses

NGX Group Commemorates 60th Anniversary

The Nigerian Exchange Group (NGX Group) Plc on Tuesday celebrated 60 years of its operations.  The NGX Group Chairman, Otunba Abimbola Ogunbanjo, in a statement, paid tribute to the original subscribers to the articles of association.  He named them as;....
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World’s 10 Largest Stock Exchanges Record $12trillion Flows In 2021 Half-Year
August 24, 2021 No Responses

World’s 10 Largest Stock Exchanges Record $12trillion Flows In 2021 Half-Year

The stock market is building momentum and attracting more investors after recording historical dips in the previous year.   Indeed, within the first half of 2021, leading global exchanges have witnessed their market capitalization grow by trillions o...
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FirstBank Boosts SMEs With N500,000
August 22, 2021 No Responses

FirstBank Boosts SMEs With N500,000

FirstBank of Nigeria on Sunday announced a N500,000 business grant to five Small and Medium Enterprises (SMEs), through its SMEConnect initiative aimed at boosting employment. Group Head, Retail Banking, Lagos Mainland 1, FirstBank, Mrs Oludolapo Adigun,  li...
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SEC, CIS, Harp On Resilient Capital Market
August 20, 2021 No Responses

SEC, CIS, Harp On Resilient Capital Market

The Securities and Exchange Commission has expressed the need for the capital market to be strengthened to accelerate domestic production and employment given the direct correlation between the increase in production and job creation.    To achieve this...
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SEC Seeks Collaboration On Dispute Resolution In Capital Market
August 19, 2021 No Responses

SEC Seeks Collaboration On Dispute Resolution In Capital Market

The Securities and Exchange Commission has expressed its readiness to collaborate with relevant Alternative Dispute Resolution professionals as a means to ensuring effective dispute resolution in the capital market.  Director-General of the SEC, Mr. Lamid...
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