Tag: Banking

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 account.  Olatokunbo in a statement on Wednesday...
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Stanbic IBTC Bank expands SME capacity building initiative
August 4, 2016 No Responses

Stanbic IBTC Bank expands SME capacity building initiative

Following the enthusiastic participation by operators since the initiative was launched two years ago, Stanbic IBTC Bank, a member of Stanbic IBTC Holdings Plc, has expanded the scope of its capacity building workshop for Small and Medium Scale Enterprises (SM...
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‘Beware of unregistered money transfer operators’
August 3, 2016 No Responses

‘Beware of unregistered money transfer operators’

By Moses Ebosele –      The Central Bank of Nigeria (CBN) on Tuesday cautioned Nigerians within and outside the country to beware of the unwholesome activities of some unlicensed International Money Transfer Operators (IMTOs) in Nigeria. In a statem...
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Nigeria seeks $3.5Billion loan from World Bank, AfDB
August 2, 2016 No Responses

Nigeria seeks $3.5Billion loan from World Bank, AfDB

The Federal Government has commenced negotiation for concessionary loans of $3.5 Billion from the World Bank and African Development Bank (AfDB). According to the Minister of Finance, Mrs Kemi Adeosun, the fund will support Government effort to finance the 201...
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TUC explains majority stake in Unity Bank
August 1, 2016 No Responses

TUC explains majority stake in Unity Bank

 By Moses Ebosele –   The Trade Union Congress of Nigeria (TUC) has successfully acquired majority stake in Uity Bank Plc.   Under the arrangement, the Congress will within the next three years invest a total of N80 billion in the...
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FCMB to brief Police on manager’s suicide
August 1, 2016 No Responses

FCMB to brief Police on manager’s suicide

The management of First City Monument Bank Plc (FCMB) is to cooperate with the police on the dealth of one of its manager, Olisa Nwakoby, who allegedly  committed suicide on Friday.  Nwakoby, who was until his death branch manager of...
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Skye Bank gets N100b lifeline
August 1, 2016 No Responses

Skye Bank gets N100b lifeline

The Central Bank of Nigeria (CBN) has approved over N100 Billion to shore up Skye Bank Plc operations and liquidity.   Managing Director of the Bank, Mr Tokunmbo Abiru who comfirmed the development explained that the CBN guarantee will not...
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Ijewere, Elumelu, Otti, others laud Oduoza’s tenure at UBA
July 31, 2016 No Responses

Ijewere, Elumelu, Otti, others laud Oduoza’s tenure at UBA

By Moses Ebosele –    The outgoing Managing Director of United Bank for Africa (UBA), Mr. Phillips Oduoza has been commended for his leadership qualities.   Speaking in Lagos at a book lauch, cross section of industrialists and philanthropists descri...
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Diamond Bank posts 25.5 % drop in profit
July 29, 2016 No Responses

Diamond Bank posts 25.5 % drop in profit

By Moses Ebosele –    For the first six months of 2016, Diamond Bank Plc recorded Profit After Tax (PAT) of N9.05 Billion, a decline of 25.5 per cent when compared to N12.3 Billion attained within same period in 2015....
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FBN Holdings announces new board appointments
July 29, 2016 No Responses

FBN Holdings announces new board appointments

 By Moses Ebosele –    FBN Holdings Plc has announced new Board appointments in the FBN Holdings Group, effective July 19 2016.   According to the financial institution, the appointments have been approved by the Board of Directors, “but remain...
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UBA denies funding coup in Turkey
July 27, 2016 No Responses

UBA denies funding coup in Turkey

By Moses Ebosele –  Foremost financial institution, United Bank for Africa (UBA) Plc has described as spurious reported attempt to link it with the failed coup attempt in Turkey.  In a statement issued by its Head of Communications, Mr. Charles...
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CBN raises interest rate to 14 per cent
July 27, 2016 No Responses

CBN raises interest rate to 14 per cent

The Central Bank of Nigeria (CBN) has raised monetary policy rate (MPR) from 12 per cent to 14 per cent as part of measures to curtail inflation.  CBN Governor, Godwin Emefiele explained at the end of the Monetary Policy Committee...
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FBN declares 10.5 % drop in profit
July 27, 2016 No Responses

FBN declares 10.5 % drop in profit

By Moses Ebosele –   For the six months ended June 30, 2016, FBN Holdings Plc attained Profit After Tax of N35.9 Billion, down by 10.5 per cent when compared with N40.1 Billion recorded within same period in 2015.  According to...
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Global market capitalisation drops to $67.2 trillion in six months
July 26, 2016 No Responses

Global market capitalisation drops to $67.2 trillion in six months

By Moses Ebosele –    A report put together by the World Federation of Exchanges (WFE) has revealed that between January and June this year, global market capitalisation declined by 9.4 per cent to reach $67.2 trillion, compared with $74.2...
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