Category: Capital Market/Banking

CBN Releases Guidelines For Regulation, Supervision Of CGCs
August 11, 2021 No Responses

CBN Releases Guidelines For Regulation, Supervision Of CGCs

The Central Bank of Nigeria (CBN) on Tuesday released guidelines for registration and supervision of Credit Guarantee Companies (CGCs) in Nigeria.  The guidelines are contained in a circular by Ibrahim Tukur, CBN’s Director, Financial Policy and Regulation Department, addressed to Commercial  Banks,...
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How To Access N250b Gas Intervention Fund, By Ministry
August 9, 2021 No Responses

How To Access N250b Gas Intervention Fund, By Ministry

Investors must meet seven criteria to access the N250 billion intervention fund for gas value chain businesses.  Senior Technical Assistant to the Minister of State for Petroleum Resources, Chief Timipre Sylva, on gas and development, Ms Brenda Ataga list...
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FirstBank Lifts FirstMonie Agents With N100b Loan
August 9, 2021 No Responses

FirstBank Lifts FirstMonie Agents With N100b Loan

First Bank Nigeria has been at the forefront of promoting financial inclusion in the country, impacting Nigerians, regardless of their locations nationwide.   The Bank currently has over 120,000 Firstmonie Agents spread across 772 Local Government Ar...
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Heritage Bank Rolls Out Innovative Products For Schools, Alumni
August 9, 2021 No Responses

Heritage Bank Rolls Out Innovative Products For Schools, Alumni

Heritage Bank has rolled out products known as Acada School Portal Solution with the aim of adding value to the different levels in the educational sector; whilst making a new entrant into the financial sector with the unveiling of the...
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Wema Bank Floats N40b Rights Issue
August 7, 2021 No Responses

Wema Bank Floats N40b Rights Issue

Barring unforeseen circumstances, Wema Bank Plc capital raising exercise of N40 billion will hit the market in September 2021. The bank’s Deputy Managing Director, Mr Moruf Oseni, said this at the company’s Half Year 2021 investors/analysts presentation on...
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Onyema: Demutualisation Will Reduce Conflict Of Interests
August 7, 2021 No Responses

Onyema: Demutualisation Will Reduce Conflict Of Interests

The Group Chief Executive Officer, Nigeria Exchange Group Plc, Mr Oscar Onyema, has said demutualisation will reduce conflict of interests in the shareholder-owned entity and support agile decision-making.  Onyema said this at the Association of Capital M...
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Access Bank Drives Financial Inclusion with 74,000 Closa Agents
August 7, 2021 No Responses

Access Bank Drives Financial Inclusion with 74,000 Closa Agents

Access Bank Plc has equipped 74,000 Access Closa agents to provide financial services to customers across the country, to drive financial inclusion.  Mr Robert Giles, Senior Banking Advisor, Retail, Access Bank, made this known in a statement on Friday in...
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CBN: Banks Refunded N89b To Customers In June
August 5, 2021 No Responses

CBN: Banks Refunded N89b To Customers In June

The Governor of the Central Bank of Nigeria (CBN), Dr Godwin Emefiele, on Thursday disclosed that at the end of June 2021, commercial banks in Nigeria refunded N89.2 billion to customers over complaints.  Emefiele made the disclosure during a CBN...
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SEC: Securities Issuers Forum will aid market Development
August 5, 2021 No Responses

SEC: Securities Issuers Forum will aid market Development

The Director-General, Securities and Exchange Commission (SEC), Mr Lamido Yuguda, has expressed optimism that the Securities Issuers Forum (SIF) will aid the development of the capital market and the economy.  Yuguda made the assertion in his opening address ...
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Unity Bank Unveils New Code On USSD Platform
August 4, 2021 No Responses

Unity Bank Unveils New Code On USSD Platform

In a bid to safeguard its e-banking platforms with enhanced safety and security features, Unity Bank Plc has unveiled a new code on its USSD platform that completely puts the customer in control of his Bank Account against any e-Banking...
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CBN Releases Guidelines For Payment Service Holding Companies
August 4, 2021 No Responses

CBN Releases Guidelines For Payment Service Holding Companies

The Central Bank of Nigeria (CBN) on Tuesday released guidelines for the establishment and regulation of Payments Service Holding Companies (PSHCs) in Nigeria.  A circular issued by Mr Musa Jimoh, CBN’s Director, Payments System Management Department in...
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Banks Comply With CBN FOREX Directive, Sell Dollar At N412
August 2, 2021 No Responses

Banks Comply With CBN FOREX Directive, Sell Dollar At N412

In compliance with the new Foreign Exchange (FX) regulation by the Central Bank of Nigeria (CBN), commercial banks in Abuja have set up dedicated teller points for FX transactions in their branches.  The News Agency of Nigeria (NAN) recalls that...
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Dangote Cement Declares N191.6b Profit In Six Months
August 2, 2021 No Responses

Dangote Cement Declares N191.6b Profit In Six Months

The Dangote Cement, has posted a Profit After Tax (PAT) of N191.6 billion, after a tax charge of N89.6 billion in its unaudited results for the half-year ending on June 30.  In a statement on Sunday, the Group Managing Director,  Mr...
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Zenith Bank Boss Canvasses Increased Impact Investing In Africa
August 2, 2021 No Responses

Zenith Bank Boss Canvasses Increased Impact Investing In Africa

Group Managing Director/Chief Executive Officer, Zenith Bank Plc, Mr Ebenezer Onyeagwu, has called for increased impact investing in Africa, to enable the continent to achieve its full potentials.  A statement issued on Sunday explained that  Onyeag...
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