Banking Archives — Page 3 of 58

July 28, 2024 No Responses

CBN Allocates Another $148m To Authorised Dealers

The Central Bank of Nigeria has sold a cumulative amount of $148m to authorised dealers in the Nigerian Foreign Exchange Market (NFEM), to provide liquidity to the foreign exchange market. Acting Director of the Corporate Communications Department, Hakama Ali, explained...

July 24, 2024 No Responses

Again, CBN Raises Interest Rate

The Central Bank of Nigeria (CBN) has again raised the Monetary Policy Rate (MPR), which measures interest rates by 50 basis points, from 26.25% to 26.75%. CBN Governor, Olayemi Cardoso, announced this after the apex bank’s 296th Monetary Policy Committee...

July 22, 2024 No Responses

Zenith Bank Retains Position As Nigeria’s Number One Bank By Tier-1 Capital For Fifteen Consecutive Years

For the fifteenth consecutive year, Zenith Bank Plc has retained its position as the Number One Bank in Nigeria by Tier-1 Capital in the 2024 Top 1000 World Banks’ Rankings, published by The Banker Magazine. This ranking places...

July 20, 2024 No Responses

CBN Allocates $106.5m To 29 FX Dealer Banks

The Central Bank of Nigeria (CBN) has announced the sale of $106.5 million as foreign exchange (FX) to 29 FX dealer banks. In a statement issued on Friday by Dr Omolara Omotunde Duke, Director, Financial Markets Department, it was disclosed...

July 19, 2024 No Responses

WITH GIANTS CAMPAIGN, FIRSTBANK IS TRULY WOVEN INTO THE FABRIC OF SOCIETY

The ‘Giant in you’ campaign of the FirstBank has again confirmed the common expression that ‘apple doesn’t fall far from the tree’ given the history of the financial brand and its legendary relevance to the growth of enterprises, within and...

July 17, 2024 No Responses

Access Bank Raises N442b Capital Through Syndicated Tier II Facility

Access Bank Plc has announced its partnership with the Dutch Entrepreneurial Development Bank (FMO). The occasion marked the signing of a monumental syndicate Tier II Facility agreement of USD295 million (the equivalent of about N442,500,000,000), underscori...

July 5, 2024 No Responses

Access Holdings Leads In PBSI Ranking

In recognition of its outstanding performance, Access Holdings PLC has been named the leading Tier-1 Bank in the 2024 Proshare Bank Strength Index (PBSI) report. The PBSI, which evaluates banks based on a comprehensive set of financial metrics derived from...

July 3, 2024 No Responses

CBN To Sanction Banks, BDCs Over Rejection Of Lower Dollar Bills

The Central Bank of Nigeria (CBN) has issued a warning to Deposit Money Banks (DMBs) and authorised forex dealers, advising them against rejecting old and lower dollar denominations from customers in the country. According to the apex bank, the directive...

July 2, 2024 No Responses

Cardoso: Non-Bank Transactions Threaten Financial Stability In West Africa

The rising transaction volumes by non-banks threaten financial stability in West Africa, the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has said. He stated this on Monday at the 10th meeting of the College of Supervisors for...

July 1, 2024 No Responses

Ecobank Nigeria Unveils Promo, To Reward 500 Customers

Ecobank Nigeria, a subsidiary of the Ecobank Group, has unveiled a deposit mobilisation campaign ‘Ecobank Super Rewards ‘Millionaire Geng Promo’ targeted at rewarding customers’ loyalty. The six-month campaign, which is set to run between J...

June 29, 2024 No Responses

CBN Issues Fresh Foreign Currency Deposit Guidelines

The Central Bank of Nigeria (CBN) has issued fresh guidelines to Deposit Money Banks (DMBs) on the deposit of foreign currency notes with the apex bank. This directive was contained in a circular issued by the Director of Currency Operators,...

June 24, 2024 No Responses

FCMB-TLG Private Debt Fund Opens For Investment

FCMB Asset Management Limited (FCMBAM), recently, held a signing ceremony for Nigeria’s first Naira denominated Private Debt Fund, the FCMB-TLG Private Debt Fund.The Fund, which has been approved by the Securities and Exchange Commission, is sponsored and ma...

June 20, 2024 No Responses

First Bank Confirms Alebiosu As MD

First Bank of Nigeria Limited has confirmed the appointment of Olusegun Alebiosu as the substantive Managing Director (MD) and Chief Executive Officer (CEO) of the bank. In a notice on Wednesday to the Nigerian Exchange Group, the company’s Secretary, Adewal...

June 5, 2024 No Responses

FIDELITY BANK UNDERTAKES ₦29.6b RIGHTS ISSUE, ₦97.5b PUBLIC OFFER

Fidelity Bank Plc has concluded all necessary arrangements to raise a total of up to ₦127,100,000,000.00 (One Hundred Twenty-Seven Billion, One Hundred Million Naira) by way of a Rights Issue to existing shareholders and a Public Offer (the “Combined Offer...