Banking Archives — Page 53 of 58

August 10, 2016 No Responses

‘Don’t sell more than $30,000 per week to BDC’

The Central Bank of Nigeria (CBN) on Tuesday directed Bureau De Change (BDCs) operators not to sell foreign exchange above two per cent margin of the buying rate. This is contained in a statement in Lagos signed by W.D Gotring,...

August 10, 2016 No Responses

NIMASA pledges to fully implement Ballast Water Management Convention

By Moses Ebosele – The Director General of Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside has challenged stakeholders in the maritime industry to protect the marine environment from alien invasive species conveyed in...

August 9, 2016 No Responses

AfDB approves $9m equity investment for SME’s in Nigeria

(NAN) The African Development Bank has approved a nine million dollar equity investment in the Fund for Agricultural Finance in Nigeria (FAFIN) to provide expansion capital to agricultural small and medium-sized enterprises (SMEs). This was contained in a pres...

August 8, 2016 No Responses

Nigeria defeat Sweden, qualify for quarterfinals

It was jubilation early this morning as Nigeria U-23 football team qualified for the quarterfinals of the Olympic Games football event after a 1-0 victory over Sweden. The team took advantage of its resilience and team work to suppres its...

August 5, 2016 No Responses

Interswitch honours FirstBank for Sustaining 100 Million Monthly Transactions

By Moses Ebosele – Interswitch Group has honoured First Bank of Nigeria Limited as the first financial institution in the country to achieve sustained transaction volumes of 100 million transactions. The development was first recorded in December 2...

August 4, 2016 No Responses

First Bank reiterates support for customers

By Moses Ebosele – First Bank of Nigeria Limited has reiterated its resolve to strengthen its commitment to provide best financial solutions for customers. The Bank in a statement on Wednesday said it has through the years demonstrated an...

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 accou...

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...

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...

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...

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...

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...

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...