BY TEMITOPE ADEBAYO The Nigerian equities market capitalisation surged past the N65 trillion mark, driven by strong gains in banking stocks, including FBN Holdings (FBNH), Guaranty Trust Holding Company (GTCO), and Access Holdings. The All-Share Index (ASI) gained by 536.54 points, representing a growth of 0.51 per cent to close at 105,324.89 points. Also, market […]
…Credit to Govt rises by 36.6 per cent to N33.669trn By Temitope Adebayo The banking industry credit to the Nigerian economy at the end of last year rose by 44.8 per cent year on year to N96.2 trillion, the Central Bank of Nigeria (CBN) latest credit data has revealed. According to the Money and Credit […]
The House of Representatives has urged the Central Bank of Nigeria (CBN) to direct commercial banks to overhaul the existing online/electronic banking platforms for efficient conduct of electronic banking operations. This is sequel to a unanimous adoption of a motion by Rep. Sergius Ogun (PDP-Edo) at plenary on Thursday. Moving the motion earlier, Ogun said […]
The Central Bank of Nigeria (CBN) says receiving international money transfers in foreign currencies by Nigerians is detrimental to the Naira. Director, Trade and Exchange in the apex bank, Ms. Ozemena Nnaji, disclosed this to the members of the House of Representatives Committees on Diaspora, Banking and Currency, and National Planning during an investigative hearing […]
…Explains why CBN revoked licenses of 154MFBs, 6PMBs Nigeria Deposit Insurance Corporation (NDIC) has reiterated its unflinching commitment to safeguarding bank customers’ deposits, as well as collaborating with the Central Bank of Nigeria (CBN) to ensure effective banking industry supervision. Speaking at the NDIC special day at the ongoing 2018 Lagos international trade fair on […]
US President Donald Trump has lavished praise on Chinese leader Xi Jinping, a marked contrast to his previous criticism of China on the flashpoint issues of North Korea and trade. But he also urged Mr Xi to “work very hard” on persuading North Korea to denuclearise. On China’s trade surplus, Mr Trump surprised many when […]
In recent times, customer behaviour and expectations are ever-evolving and with this challenge, comes the need to meet their needs as well as ensure, new offerings are at the forefront of technological evolution. On the back of this development, UBA a leading innovative player in Financial Services is finding new ways to communicate and engage […]