Money

Banks, Fintechs to integrate seamless data bundle services via S.Mobile API

DailyTimesNGR DailyTimesNGR 22 August 2024 0

BY MOTOLANI OSENI Banks and fintech companies can now integrate data bundle service directly into their platforms, with the Application Programming Interface (API) designed by S.Mobile for MTN data bundle distribution. S.Mobile’s API is designed to empower banks and fintech companies to provide

News

Expert charges FG, Banks to harmonise economic growth with environmental stewardship

DailyTimesNGR DailyTimesNGR 13 August 2024 0

BY MOTOLANI OSENI Regional coordinator, West Africa Capitals Coaliton Hub, Eugene Itua has tasked the federal government and financial institutions to harmonize economic growth with environmental stewardship for smooth transitioning into green energy. Itua’s advice is coming on the heels of the commencement of oil production by Dangote Refinery and plan by the

Headlines

Banks are in good stead to meet recapitalisation target-ACAMB

DailyTimesNGR DailyTimesNGR 2 April 2024 0

..As banks assure, express support for recapitalisation plan BY Temitope Adebayo The Association of Corporate & Marketing Communication Professionals of Banks (ACAMB) has welcomed the release of the much-anticipated circular of the Central Bank of Nigeria (CBN) on the banking sector recapitalisation. This is even as the banks under the auspices of ACAMB assured the

Business

Non-Remittance: EcoBank, Access Bank, two others grilled by HoR over N11.632trn revenue collections

DailyTimesNGR DailyTimesNGR 21 February 2024 0

By Tom Okpe Ecobank, Access Bank and two other commercial banks operating in the country have appeared before the House of Representatives (HoR) Committee on Public Account, over N11.632 trillion in revenue, collected on behalf of the Federal Government, through the REMITA platform between the 2015 and 2022 fiscal year. The two other officials of […]

Business

Naira scarcity: CIBN, Banks CEOs assure depositors of continued operations

Ihesiulo Grace 19 February 2023 0

Banks will remain open if it’s safe to do so, says CIBN By Motolani Oseni As Nigerians continued to experience naira scarcity across the country, while some depositors vented their frustrations on commercial banks’ facilities across the country, the Chartered Institute of Bankers of Nigeria (CIBN) and the Body of Banks CEOs have begun collaboration […]

News

Naira scarcity: Attacks on banks put insurance claims at over N5bn – ASSBIFI

Ihesiulo Grace 17 February 2023 0

By Joy Obakeye The Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) says the pockets of attacks on banks, financial institutions and their outlets across the country have put insurance claims at more than N5 billion. The attacks on banks’ facilities across the country were in reaction to the hardship caused by […]

Business

Naira scarcity: Banks clarify cash hoarding claims, working with CBN, others

Ihesiulo Grace 6 February 2023 0

*Assure Nigerians of normalcy amidst N100bn investment in tech By Motolani Oseni The Association of Corporate Affairs Managers of Banks (ACAMB) has clarified the assumption that commercial banks in the country are hoarding naira notes; rather, the banks have invested over N100billion in technology to deliver seamless electronic transactions to their customers. ACAMB

Business

Money laundering, terrorist financing: Yemisi Edun advocates for increased collaboration among banks

Ihesiulo Grace 30 January 2023 0

By Joy Obakeye The Managing Director of First City Monument Bank (FCMB), Mrs Yemisi Edun, has advocated increased collaboration among banks, especially in information sharing, to effectively combat money laundering, terrorist financing and other illicit practices within the financial system. She stated that information sharing would make it easier to stop criminals from

Business

Fitch rates Nigerian banks strong to withstand economic shocks

Ihesiulo Grace 25 January 2023 0

Deposit Money Banks (DMBs) operating in Nigeria have sufficient capital and liquidity buffers to withstand prevailing macroeconomic challenges, providing headroom at their current rating levels, Fitch Ratings says in a new report. However, it said that operating conditions for banks will weaken in 2023 due to high inflation, rising interest rates and US dollar shortages,

Business

2023: Nigerian banks, others to maintain growth trajectory through core income-Analysts

Ihesiulo Grace 9 January 2023 0

Deposit Money Banks (DMBs) operating in the country, Industrial goods and Agricultural sector, among others have been projected to maintain their growth trajectory this year, 2023. This was made known by Cordros Securities Limited in its report titled; ‘Nigeria in 2023; Charting Through a Pervasive Slowdown’. The report identified Financial Sector, Industrial Goods,

Business

Banks now have the new Naira notes-CBN Gov

Ihesiulo Grace 9 December 2022 0

*Says about N1trn current notes pulled back into the bank’s vaults *1.4million super agents across Nigeria to deepen cashless policy By Motolani Oseni Ahead of the December 15th, 2022 date set for Nigerians to have access to the newly redesigned Naira notes, the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has said […]

News

$350m Cabotage funds: FG shortlists 11 banks, to commence disbursement next week

Ihesiulo Grace 7 October 2022 0

By Ukpono Ukpong The Federal Government yesterday announced plans to commence the disbursement of $350m cabotage funds next week. This was disclosed by the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Bashir Jamoh, during this week’s ministerial briefing at the State House, Abuja. The Cabotage Vessel Financing Fund (CVFF), is

Business

20% of retail banks express dedication to ESG initiatives, BCG report shows

Ihesiulo Grace 4 October 2022 0

New report from Boston Consulting Group, BCG, finds ESG-related products in core business lines could generate substantial revenue for retail banks. Interest in sustainability has been rising for several years, and concerns over climate change have become decision drivers for customers, investors, and policymakers. Retail banks are responding by building sustainability

Headlines

PROVIDUS BANK: Bank charges, Fraudulent act by bankers

Ihesiulo Grace 13 August 2022 0

Providus-Bank: Customers’ accounts are debited for money without their knowledge, and when they discover this, they will claim they have performed a recall, which takes a very long time. In the meantime, customers don’t get value for their money, and even when complaints are sent to the MD, nothing is done, proving that the practice […]

Headlines

Banks woo customers over incentive policy on Diaspora remittances

Ihesiulo Grace 8 March 2021 0

By Philip Clement Following the recent directive by the Central Bank of Nigeria (CBN) on a N5 incentive for every dollar remitted into the country by Nigerians abroad, commercial banks operating in the country have started wooing their various customers to benefit from the two months cashback incentive. The apex bank in a circular to […]

Banking

‘Why banks must maintain human element amid surge in digital solution’

Ihesiulo Grace 31 August 2020 0

By Tunde Shorunke Despite surge in alternative use of the digital solution in commercial banking operations, but a need for the trusted side of advising on wealth physically, would make financial institutions keep maintaining the human element. In a document made available to The Daily Times, titled: “The Evolving Model of Wealth Management”, the Regional […]

News

‘How banks recovered N50.32 million loans from defaulters within 9 days’

Ihesiulo Grace 20 August 2020 0

‘How banks recovered N50.32 million loans from defaulters within 9 days’ bad loans from debtors within nine days of the country commencing operation of the Global Standing Instruction (GSI). Amugo made the disclosure on Tuesday, at a webinar organised by the Chartered Institute of Bankers of Nigeria (CIBN) Dialogue Series 3.0 in Lagos. The discussion […]

Business

Banks’ boards to meet over H1 2020 dividend, results

Ihesiulo Grace 6 July 2020 0

The boards and managements of Zenith Bank Plc and Guaranty Trust Bank Plc (GTBank) are to meet this month via electronic channels to discuss interim dividends and approve half-year ended June 30, 2020 results. The electronic meeting by both financial institutions is coming on the heels social distancing policy of the government in a move […]

Business

Expert wants banks to support customers survive post COVID-19 crisis

Ihesiulo Grace 27 April 2020 0

The Managing Director of Maxifund Securities Limited, Mazi Okechukwu Unegbu, has advised Nigerian banks to grant their debtors who had suffered huge losses in the aftermath of COVID-19, a generous leeway that would enable them to bounce back and be able to settle their credit obligations. Unegbu also advised the operators of the banking industry […]

Opinion

How CBN, Banks, private sector players are fighting COVID-19

Ihesiulo Grace 6 April 2020 0

Recently, Mr. Godwin Emefiele, Governor of Central Bank of Nigeria (CBN), announced that the CBN, on behalf of the Bankers’ Committee, and in partnership with the private sector have come together to form the Nigerian Private Sector Coalition Against COVID-19. Under the plan, it was agreed that banks would contribute monies at 4 levels. UBA, […]