Banking Business

Fidelity Bank organises campus activation, targets 3,000 new account holders

Ihesiulo Grace 17 July 2019 0

Motolani Oseni As part of its desire to continue promoting financial literacy, Fidelity Bank has organised a campus activation programme at Federal College of Education (Technical), Yaba, Lagos. The bank organised the activation programme on Monday in Lagos with a focus to bring on board 3,000

Banking Business

FirstBank boosts financial inclusion through digitisation in Sub-Saharan Africa

Ihesiulo Grace 17 July 2019 0

Ladesope Ladelokun FirstBank of Nigeria Limited has announced its organisation of a Joint Seminar with sub-Saharan African Banking and Telecom Regulators to promote financial inclusion through digital innovations in sub-Saharan Africa. The event which was held in Lagos recently was themed “Advancing ePayment and Digital Innovations in Africa- Evolution of Nigeria’s Payment

Banking Business Money Money

2019 PWM: Fidelity Bank clicks Best Digital Networking Bank award

Ihesiulo Grace 12 July 2019 0

Temitope Adebayo Fidelity Bank won the ‘Best Digital Networking Bank For Entrepreneurs, Africa 2019’ at 2019 PWM Wealth Tech Awards held in London, United Kingdom (UK) recently. Organised by Professional Wealth Management (PWM), a Financial Times publication, the awards celebrate excellence in wealth management technology. According to the organizers, technology and

Banking Business Money Money

CBN limits top 4 commercial banks deposits to boost lending- Analysts

Ihesiulo Grace 12 July 2019 0

Motolani Oseni As part of efforts to reduce access to its Standing Deposit Facility (SDF), a group of analysts at ARM research have said the Central Bank of Nigeria (CBN) is limiting the top four Tier 1 commercial banks access to its facility. The apex bank had issued a circular, stressing that, “remunerable daily placements […]

Banking Business Tech

New Payment platform’ Hollaport’ berth

Ihesiulo Grace 10 July 2019 0

Mutiat Alli Group Executive Director of Bua Group, Kabiru Rabiu, has unveiled a completely made in Nigeria app tagged ‘Hollaport, payment and messaging mobile application for the convenience of Nigerians. Speaking on at launch, Kabiru disclosed that the innovation of the app started about 2 years ago and was borne of the need to ease […]

Banking Business

Exception of Access Bank, largest banks have LDRs below 60% – Fitch Rating

Ihesiulo Grace 10 July 2019 0

Motolani Oseni Fitch Rating has disclosed that, exception of Access Bank Plc, other large banks in Nigeria have Loan-to-Deposit Ratio (LDR) below or close to 60per cent and will be among the most affected by the new requirement. This is coming on the heels of Central Bank of Nigeria (CBN) directive that required banks to […]

Banking Business

FirstBank introduces visa multi-currency card

Ihesiulo Grace 10 July 2019 0

Temitope Adebayo First Bank of Nigeria Limited has introduced the Visa Multi-Currency Card, an All-in One-Card and first of its kind to be offered by any financial institution in Nigeria. The lender, on Tuesday, explained that the newly introduced card can be linked to all of four currencies namely: NAIRA, USD, EURO and GBP accounts. […]

Banking Business

FirstBank promotes career development for staff

Ihesiulo Grace 3 July 2019 0

Temitope Adebayo In furtherance to its strategic objective of imbibing and promoting leadership at requisite levels across its staff hierarchy, First Bank of Nigeria Limited has concluded the maiden edition of its Leadership Acceleration Programme (LAP). First Academy – the Bank’s training school and staff academic development institute – developed three core Leadership

Banking Business

Crypto criminals will spend $1bn on dark web in 2019, says Report

Ihesiulo Grace 3 July 2019 0

Ladesope Ladelokun with Agency report Not less $1 billion will be spent in Bitcoin in illegal online marketplaces this year, according to a report by Chainalysis. While the crypto community is excited about the possibility of wide adoption of Bitcoin, criminals have embarked on ceaseless spending of their coins on the dark web for buying […]

Banking Business

UBA to reward loyalty with N60m in Wise Savers promo

Ihesiulo Grace 2 July 2019 0

Temitope Adebayo Another set of 20 loyal customers will join the rising number of millionaires to win a whopping N1, 500,000 each, in the 3rd edition of its quarterly draw for the ongoing UBA Wise Savers Promo. The raffle draw which is set for July 31st, at United Bank for Africa’s corporate head office will […]

Banking Business

S&P Global rating affirms Access Bank stable outlook of ‘B/B’

Ihesiulo Grace 28 June 2019 0

Motolani Oseni The S&P Global rating agency on Thursday affirmed Access Bank Plc ‘B/B’ issuer credit ratings. The global rating agency in its test report stated, “We affirmed our ‘ngA/ngA-1’ Nigeria national scale ratings on the bank.” The report further stated that the affirmation balances the benefits of the Diamond acquisition for

Banking Business

Access Bank launches Womenpreneur Pitch-A-Ton 2019

Ihesiulo Grace 21 June 2019

Motolani Oseni As part of efforts to provide financial and business skills to female entrepreneurs, Access Bank Plc has announced the launch of its Womenpreneur Pitch-A-Ton 2019, a capacity building initiative which will provide financial grants as well as mini-MBA in conjunction with the International Finance Corporation (IFC, a member of the World Bank Group) […]

Banking Business

Diamond Bank introduces PayDay Loan as merger benefit to customers

Ihesiulo Grace 4 March 2019 0

Diamond Bank, Nigeria’s leading retail Bank has introduced PayDay Loan to ease the financial burden of clients as part of its merger benefits to customers. In a statement by the Media Relations Officer of the Bank’s Corporate Communications, Ezechinyere Anyanwu, “PayDay Loan is an instant salary advance service available to all customers who have their […]

Banking

Zenith Bank reports 25.5% increase in profit to N47.08bn in Q1

Ihesiulo Grace 23 April 2018 0

Zenith Bank Plc has announced an increase of 25.5 per cent in profit in first quarter (Q1) of 2018 to N47.8 billion as against N37.5 billion reported in first quarter of 2016. The lender’s in its unaudited results to Nigerian Stock Exchange (NSE) on Thursday said, Profit before tax gained 22.2 per cent to N54 […]

Banking

Heritage Bank unveils new advanced intelligent digital platform

Ihesiulo Grace 5 March 2018 0

Tier-two lender, Heritage Bank Plc, has taken a bold step to revolutionise the banking sector with the introduction of an advanced intelligent digital experience known as Octopus. The solution, which is full-fledged digital bank, has been described by financial technology experts as a game-changing innovation that is poised to connect all bank accounts with holder’s […]

Banking

Master, Visa cards ‘to be blocked abroad’ as Egmont Group mulls expelling Nigeria

Ihesiulo Grace 5 February 2018 0

Nigerians may no longer be able to carry out international transactions as Egmont Group is considering expelling the Nigeria Financial Intelligence Unit (NFIU). A major consequence of the expulsion will be the blacklisting of Nigeria in international finance. This could affect the issuance of Mastercard and Visa credit and debit cards by Nigerian banks. It […]

Banking

First Bank broadens digital marketing initiatives

Ihesiulo Grace 26 September 2017 0

First Bank of Nigeria Ltd , one of Nigeria’s pioneer financial institutions, has said it is currently broadening its digital marketing initiatives in a bid to add 16 million customers to the present 14 million customers. According to Dr. Adesola Adedutan, FirstBank’s Managing Director/Chief Executive, said this is part of its growth strategy to get […]

Banking Business

CBN deploys electronic platform for efficient processing of capital investment inflows

Ihesiulo Grace 8 September 2017 0

Central Bank of Nigeria has deployed an electronic certificate of capital importation (eCCI) platform, which it said would enhance transparency and efficient processing of foreign investment inflows into the country. In a circular signed by W.D. Gotring, its director of trade and exchange development, which it issued to all authorized dealers, including money deposit

Banking Business

Access Bank takes 30% haircut on its 9Mobile loan, insists Etisalat UAE still has obligation

Ihesiulo Grace 30 August 2017 0

Nigeria’s Access Bank said Wednesday it had booked a 4 billion naira ($13 million) impairment on its loan to troubled telecoms firm 9mobile, formerly known as Etisalat Nigeria. Herbert Wigwe, Access Chief Executive said the bank had a direct exposure of 11 billion naira to 9mobile, as well as an exposure of 35-39 billion naira […]

Banking

Digital banking, SMEs push Fidelity Bank’s profit by 22%

Ihesiulo Grace 30 August 2017 0

The management of Fidelity Bank says the 22% profit it recorded in the first half of 2017 can be attributed to deepening market share in the small and medium enterprises (SMEs), retail and digital banking spaces. According to a statement signed by Ejike Ndiulo, head, corporate communications of the bank, gross earnings rose from N70.3billion […]