Banking Archives — Page 52 of 58

August 24, 2016 No Responses

Ford partners Jose Cuervo on car parts from Agave

Ford Motor Company is teaming up with Jose Cuervo to explore the use of the tequila producer’s agave plant byproduct to develop more sustainable bioplastics to employ in Ford vehicles. Ford and Jose Cuervo are testing the bioplastic for use...

August 23, 2016 No Responses

Manufacturers to get 60% forex

Still in search of a healing balm for the economy, the Central Bank of Nigeria (CBN) has directed Authorised Dealers (banks) to allocate 60 per cent of their Foreign Exchange, (forex) purchases from all sources (interbank inclusive) to manufacturers an...

August 22, 2016 No Responses

Wema Bank to raise N50b

To expand on its expansion drive and ensure profitability, the Board and Management of Wema Bank has concluded plans to raise N50 Billion tier two capital through bonds. According to the Bank, plans are underway to raise N20 billion...

August 21, 2016 No Responses

Emefiele emerges President of African Central Banks

(NAN) The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has been elected President of the Association of African Central Banks (AACB). Mr. Emefiele, who was elected at the 39th Ordinary meeting of the Assembly of Governors of...

August 19, 2016 No Responses

FCMB blames NPA for non-remittance of funds

By Moses Ebosele – The management of First City Monument Bank (FCMB) has admitted receiving Euro payments for Nigerian Ports Authority (NPA). Briefing the Nigerian Stock Exchange (NSE) in a statement obtained by City BusinessNews (www.citybusin...

August 19, 2016 No Responses

Buhari tasks African Central Banks on repatriation of stolen funds

President Muhammadu Buhari has urged African Central Banks to play crucia role in the repatriation of stolen funds. Speaking at a meeting of the association of central bank governors in Abuja, Buhari called for the removal of all bureaucracies...

August 18, 2016 No Responses

First Bank denies alleged concealment of NPA’s N11.2Billion

By Moses Ebosele – First Bank Nigeria has denied any involvement in the alleged concealment of N11.2 Billion belonging to the Nigerian Ports Authority (NPA). In a statement sent to the Nigerian Stock Exchange (NSE) and obtained by City BusinessNe...

August 18, 2016 No Responses

GTBank proposes 25k interim dividend

For the half year ended June 30, 2016, Guaranty Trust Bank Plc has proposed 25 kobo interim dividend. In its report to the Nigerian Stock Exchange (NSE), the Bank also declared gross earnings of ₦209.9 billion, an increase of 37...

August 18, 2016 No Responses

‘Skye Bank is neither distressed nor liquidated’

By Moses Ebosele – The Central Bank of Nigeria (CBN) has refuted alleged liquidation of Skye Bank Plc. In a statement issued on Thursday, CBN Acting Director (Corporate Communications), Isaac Okorafor, said the Bank is “neither distressed...

August 17, 2016 No Responses

CBN increases BDCs weekly sales to $50,000

The Central Bank of Nigeria (CBN) has increased the amount of foreign exchange that Bureaux De Change (BDCs) can access from $30,000 to $50, 000 per week. Speaking in Abuja on Tuesday, Directors of CBN and some Managing Directors of...

August 17, 2016 No Responses

NDIC tasks Jaiz Bank on Corporate Governance

By Bademi Johnson – To successfully tackle various challenges facing Nigeria’s banking Industry, the management of Jaiz Bank Plc has been advised to strengthen its corporate governance mechanism. The Managing Director/Chief Executive Officer of Nig...

August 16, 2016 No Responses

Union Bank declares N8.7B profit in six months

For the first six months of this year, Union Bank of Nigeria Plc recorded profit after tax of N8.7 Billion compared with N6.3 Billion within same period in 2015. According to the Bank, total assets also increased from N1.046...

August 14, 2016 No Responses

First Bank seeks clarification on alleged N11.2B fraud

First Bank of Nigeria on Saturday denied any involvement in the alleged N11.2 Billion fraud at Nigerian Ports Authority (NPA). An online medium, PREMIUM TIMES had on Saturday reported that the newmanagement of the Nigerian Ports Authority has uncovered....

August 12, 2016 No Responses

Diamond Bank explains online loan application platform

By Moshood Aliyu – Diamond Bank has raised the bar in Nigeria’s financial services sub-sector with the introduction of an online loan application platform that allows customers to request for a loan, monitor and receive automatic feedback on the...