Banking Business News

Stanbic IBTC H1 earnings grow by 3% to N117.4bn

Ihesiulo Grace 30 August 2019 0

…Declares 100k interim dividend Benjamin Omoike Stanbic IBTC Holdings Plc, a member of the Standard Bank Group, has recorded an increase in gross earnings to N117.4 billion; representing a 3 per cent growth in its mid-year audited results for the period ended June 30, 2019. The Group,

Africa Agriculture Banking Business

First Agric Expo to promote new business opportunity

Ihesiulo Grace 28 August 2019 0

Godwin Anyebe FirstBank of Nigeria Limited has announced that its 2019 edition of FirstBank Agric Expo – the third in the series, would promote new business opportunity in the country. The lender’s Agric Expo will hold on Friday 2019 at the Eko Hotel and Suites, Lagos, 30 August, with the theme, “Agricultural Value Chain – […]

Banking Business Law

Court orders CBN to pay Benue communities N8bn

Ihesiulo Grace 20 August 2019 0

The Federal High Court, Abuja on Monday ordered the Central Bank of Nigeria to immediately pay the sum of N8 billion to Tiv communities in Benue state invaded by soldiers sometime in year 2001. The News Agency of Nigeria (NAN) reports that the money was awarded in favour of the communities in Logo, Ukum, Kwande […]

Banking Business Power & Energy

World Bank, AfDB boost Nigeria’s power sector with $961m

Ihesiulo Grace 20 August 2019 0

Michael Ajayi Not less than a total sum of $961 million or N349.8 billion was raised from the World Bank and African Development Bank (AfDB) in 2018 alone for power transmission investment. The Managing Director of Transmission Company of Nigeria (TCN), Usman Gur Mohammed, reportedly disclosed this recently in Abeokuta, while maintaining that the funds […]

Banking Business News

BDCs ready for FATF team assessment visit to Nigeria

Ihesiulo Grace 20 August 2019 0

Motolani Oseni Bureau de Change (BDC) operators under the Association of Bureau De Change Operators of Nigeria (ABCON) are preparing for the annual evaluation of the Financial Action Task Force (FATF) team visiting the country soon. Speaking to financial journalists ahead of the FATF visit to Nigeria, ABCON President, Alhaji (Dr.) Aminu Gwadabe, said BDCs […]

Banking Business

Zenith Bank hikes profit by 4%, proposes N0.30 dividend

Ihesiulo Grace 20 August 2019 0

Temitope Adebayo Zenith Bank plc has announced a four per cent increase in profit before tax in its audited result and accounts for the half-year (H1) ended June 30, 2019. The financial an institution in its accounts to on the Nigerian Stock Exchange (NSE) on Monday reported N111.7 billion profit before tax in H1 2019 […]

Agriculture Banking Business Capital Market Capital Market

Forex restriction: Agriculture sector can provide 50 million jobs – NASME

Ihesiulo Grace 20 August 2019 0

The Nigerian Association of Small and Medium Enterprises (NASME) has stated that the agriculture value chain can provide over 50 million jobs if the Federal Government stops forex restriction as well as place an outright ban on food import. The Chairman of Agricultural Group of NASME, Lagos Chapter, Adam Adebayo made this suggestion in Lagos […]

Banking Business Capital Market

FG to lift 2.5m low-income earners through micro-lending scheme

Ihesiulo Grace 20 August 2019 0

The Federal Government has said it will provide micro-lending to about 2.5 million small trades and businesses to the lowest income earners through the Government Enterprise and Empowerment Programme (GEEP) This was disclosed by the Vice- President, Prof Yemi Osinbajo, who was represented by the Special Adviser (SA) to the President on Economic Matters, Dipolu […]

Banking Business Insurance

Stanbic IBTC promotes healthy living, wellness among employees

Ihesiulo Grace 16 August 2019 0

Benjamin Omoike  As part of its contribution towards promoting wellness and healthy living amongst its employees, Stanbic IBTC, a member of the Standard Bank Group, recently held the 2019 edition of the Stanbic IBTC Employee Health and Wellness week. The Health and Wellness Week marked the culmination of activities of Stanbic IBTC’s annual Health Week […]

Banking Business

Keystone Bank announces appointment of 3 executive directors

Ihesiulo Grace 7 August 2019 0

Temitope Adebayo As part of a strategy to realign its operations for sustained business growth, Keystone Bank Limited has appointed three executive directors as members of its board of directors. The new directors who were appointed at the 49th yearly general meeting of the bank in Lagos recently, subject to the approval of the Central […]

Banking Business

Naira appreciates by 0.1% at I&E FX window

Ihesiulo Grace 6 August 2019 0

Motolani Oseni The Naira at the Investors & Exporters Foreign Exchange (I & E FX) on Monday appreciated by 0.1 per cent to close at N362.21 against the Dollar from N361.60 it opened for trading. According to the FMDQ Securities Exchange, the local currency traded high and low at N 364.00 and N310.00 against the […]

Banking Business

Access Bank, Sterling Bank, Unity Bank record price appreciation in July

Ihesiulo Grace 6 August 2019 0

Motolani Oseni Access Bank Plc, Sterling Bank Plc and Unity Bank Plc were the only listed banks on the Nigerian Stock Exchange (NSE) that recorded price appreciation in July, data gathered by The Daily Times revealed. The banking sector in July witnessed investors’ sell-off, attributable to anticipation of weak six months ended June 30, 2019 […]

Banking Business

We’re committed to national development, economic growth -FirstBank

Ihesiulo Grace 2 August 2019 0

Temitope Adebayo Deputy Managing Director, First Bank of Nigeria, Mr. Gbenga Shobo, on Thursday, said the bank is committed to national development in terms of the employment opportunities, through its continued support for the Small and Medium Enterprises (SMEs). Shobo, who disclosed this on Thursday in Lagos, said to demonstrate this commitment, the bank would […]

Banking Business

EcobankPay digital payments record N1bn transactions value

Ihesiulo Grace 2 August 2019 0

Temitope Adebayo Ecobank Nigeria has recorded a cumulative transaction value of over N1 billion through its EcobankPay. EcobankPay, which is the lifestyle digital payments and collections service, according to the lender offers customers a multi-channel payment experience including Mobile QR Payment at merchant stores (mCash, Masterpass and mVisa), Merchant QR is set up

Banking Business

Union Bank posts N12.1bn PBT in H1 2019

Ihesiulo Grace 30 July 2019 0

Temitope Adebayo Union Bank of Nigeria (UBN) on Monday declared a profit before tax of N12.1 billion for the half-year ended June 30, 2019. The profit represented a growth of four per cent when compared with N11.7 billion achieved in the comparative period of 2018. The financial result, which was announced on the Nigerian Stock […]

Banking Business

FBN Holdings increases earnings to N294.2bn in H1 2019

Ihesiulo Grace 30 July 2019 0

Motolani Oseni FBN Holdings Plc (FBN) has reported gross earnings of N294.2 billion for the six months ended 30 June 2019. The Holdings in its unaudited results for the half-year, which was released yesterday increased its earnings by 0.3 per cent year-on-year (y-o-y), compared to N293.3 billion recorded in June 2018. The financial statement further […]

Banking Business

We gave out N70bn credit to MSMEs in 2 years – DBN Chairman

Ihesiulo Grace 30 July 2019 0

Motolani Oseni The Development Bank of Nigeria (DBN) Monday disclosed that it has given out N70 billion as loans to over 50,000 Micro, Small and Medium Enterprises (MSMEs) within two years. The Chairman of the bank, Dr. Shehu Yahaya said this at the maiden series of the bank with the theme: Surviving To Thriving: “MSMEs […]

Banking Business Insurance

FBN Insurance reports N902m paid claims in 2018

Ihesiulo Grace 23 July 2019 0

Micheal Ajayi FBN General Insurance Limited, a subsidiary of FBNInsurance Limited has reported a paid sum of N902 million as claims for year ended 2018. The insurance company recorded a pay rise of N41 million as against N861 million paid in the previous year 2017. Speaking at the company’s Annual General Meeting (AGM), held in […]

Banking Business Capital Market

Non-Oil Exports: Fidelity Bank, NEPC, LBS train 100 MSMEs in Kano

Ihesiulo Grace 19 July 2019 0

Temitope Adebayo Fidelity Bank Plc is training over 100 SMEs at the 8th edition of the highly acclaimed Export Management Programme (EMP) with the aim of providing impactful, world-class support to Micro Small Medium Enterprises (MSMEs) in Kano State. Organised by the bank in strategic partnership with the Nigerian Export Promotion Council (NEPC) and the […]

Banking Business

Afreximbank appoints Idrissa Diop compliance director

Ihesiulo Grace 19 July 2019 0

Motolani Oseni The African Export-Import Bank (Afreximbank) has appointed Idrissa Diop, formerly of Ecobank Transnational Inc., as its new Director of Compliance. Mr Diop, who, until his appointment, was Ecobank’s Group Head of Compliance, replaces Maureen Mba, who retired from Afreximbank in May after a long meritorious service. In a statement by Afreximbank’s spokesman,