Banking

Nigeria Emefiele selected to lead African central bank governors

Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele has been appointed as the president of the Association of African Central Bank governors (AACB) for the 2016- 2017 year, according to a communiqué issued on Friday in Abuja at the end of the 39th Ordinary meeting of the Assembly of Governors of the […]

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GTB records N91.38bn half year pre-tax profit

Foremost banking institution, Guaranty Trust Bank plc on Wednesday announced that it released its audited financial results for the half year period ended June 30, 2016 to the Nigerian and London Stock Exchanges. The results published at the Nigerian Stock Exchange (NSE) for investors and shareholders showed gross earnings for the period grew by 37% […]

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First bank, FCMB, Two Other Banks named in Katsina SURE-P N5bn cash withdrawal

Four banks were on Thursday named in the alleged cash withdrawal of over five billion naira belonging to the Katsina State Subsidy Reinvestment and Empowerment Programme during the tenure of former Governor Shehu Shema. They are Sterling Bank, FCMB, First Bank Plc and Fidelity bank. The allegation was made during the continuation of the sitting […]

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Ecobank

Ecobank Group absolves Lawson of corporate governance culpubility

The board of Pan African Bank, Ecobank Transnational Incorporated plc (ETI) has finally recognised the role its former chairman, Kolapo Lawson played in projecting the bank’s good corporate governance principles through whistle blowing. In 2013, the Ecobank Group was plunged into what was generally perceived as governance crisis. In order to ensure that the Ecobank […]

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SunTrust Bank commences operations

A newly-licensed regional bank, SunTrust Bank (STB) Limited, commenced operations on Wednesday with a pledge to give customers an edge through technology-driven services. The bank’s Chief Executive Officer (CEO), Mr. Muhammad Jibrin, said the bank was the first to be issued fresh licence by the Central Bank of Nigeria (CBN) since 2001, stating that STB […]

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Disregard news of Skye Bank liquidation, says CBN

The Central Bank of Nigeria (CBN) has advised customers and other stakeholders of Skye Bank to disregard any message suggesting a liquidation of the bank. According to the Acting Director, Communications, Mr Isaac Okorafor, malicious messages are making the rounds suggesting that the bank is distressed or has been liquidated by the CBN. “The CBN […]

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Investors appetite for Access, UBA shares raise NSE’s Index by 48.23 points

Transactions at the Nigerian Stock Exchange yesterday showed that investors interest in Access Bank Plc and United Bank for Africa Plc shares raised the All-Share Index of the Exchange by 48.23 points to 27,437.25 from the 27,389.02 of the previous day. Consequently, Access Bank emerged the top traded stock by volume with 65.98million shares worth […]

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CBN defends monetary policy decisions

The Central Bank Governor Mr. Godwin Emefiele , has said that the apex bank took the best monetary policy option in addressing the current economic challenges facing the country. He also said that unless Nigerians embrace fully the concept of diversification, the country would not be able to generate enough foreign exchange to cushion the […]

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First Bank dismisses involvement in alleged N11.2b fraud in NPA

First Bank of Nigeria at the weekend absolves itself of any involvement in the alleged N11.2 billion fraud at Nigerian Ports Authority (NPA). This came as a response to an online medium, PREMIUM TIMES’s report on Saturday that the new management of the NPA has uncovered an alleged fraud totalling N11.23 billion involving the foremost […]

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Naira

‘Naira devaluation negatively affecting banks, financial institutions’

By: Bisola Adeola, Mr. Demola Banu, a Kwara State Commissioner for Finance, has said the continued depreciation of Naira is negatively affecting banks, other financial institutions and the whole economy at large. He also said it was increasing loan default by bank customers, adding that many micro-finance banks in Nigeria that did not attach loans with securities […]

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UBA, First Bank, Fidelity, Ecobank disburse forex to BDCs

No fewer than four commercial banks yesterday disbursed the first batch of diaspora inflow-related foreign exchange (forex) to over 350 bureaux de change (BDCs), as directed by the Central Bank of Nigeria (CBN). United Bank for Africa (UBA) Plc, First Bank, Fidelity Bank Plc and Ecobank Nigeria Limited, sold the regulatory $30,000 weekly to each […]

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Diamond Bank

Diamond Bank unveils online loan application platform

Diamond Bank has said that it has raised the bar in Nigeria’s financial services sub-sector through the introduction of an online loan application platform that allows customers to request for a loan, monitor and receive automatic feedback on the approval process anywhere, anytime without hassles. The bank said this innovation has reaffirmed its commitment to […]

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