‘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 […]
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 […]
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 […]
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, […]
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, […]
…Says companies emerge stronger post COVID-19 crisis As countries across the globe continue to battle the widespread of coronavirus pandemic, FBNQuest has projected some likely winner amid various lockdowns in most of the affected nations. The firm, however, says that it pictured that individuals could decide to return to their old habits or alternatives post-coronavirus, […]
The Central Bank of Nigeria (CBN) has said banks are no longer allowed to sack more than five staff without its approval. This was part of the communiqué released by the Bankers Committee after its meeting on Friday. The committee, in a circular signed by Director, Financial Markets Department, CBN, Angela Sere-Ejembi, emphasized that all […]
Kaspersky security researchers have reported on thousands of notifications of attacks on major banks located in the sub-Saharan Africa (SSA) region. The malware used in the attacks indicates that the threat actors are most likely to be an infamous Silence hacking group, previously known to be responsible for the theft of millions of dollars from […]
Yola – The Nigeria Deposit Insurance Corporation (NDIC) has called on banks and other stakeholders to make concerted efforts toward addressing challenges hindering financial inclusion in the country. Dr Sunday Oluyemi, the Director of Communication and Public Affairs Department of NDIC, made the call on Wednesday at a workshop for Business Editors and Finance Correspondents […]
Yola – The Nigeria Deposit Insurance Corporation (NDIC) on Tuesday said that the country’s banks remain stable in spite of a negative rating on Nigeria by global credit rating agency, Moody’s. Mr Abdulhameed Aliu, NDIC Deputy Director for Bank Examination, said this at the ongoing workshop for business editors and finance correspondents by the corporation […]
The Senate has called on Central Bank of Nigeria to suspend ATM card maintenance charges. Office of the Senate President tweeted the decision on its official handle.Nigerian ATM card holders are usually charged yearly fees for owning the card. BREAKING: Today, the Nigerian Senate passed a resolution calling on the Central Bank of Nigeria (CBN) […]
As Treasury-bill rates continue to fall, while asset yields are trending south, making it almost impossible to re-price liabilities to match, banks operating in Nigeria have been warned to either find other sources of income or face an average of 15 per cent drop in their Profits Before Tax (PAT) expectation for 2018. It is […]
In an evolving financial sector, you need the right bank to take you multiple steps ahead, from where you are, to where you want to be, with a robust ‘Financial Literacy Initiative’ aimed at educating small businesses and the wider public. Heritage Bank Plc continues to lead in creating ground breaking innovations, creatively crafted […]
Banks record 26,182 fraud cases in 2017 – NDIC • Says ₦12.01 billion lost in 2017 to frauds • Vows to investigate banks The Nigeria Deposit Insurance Corporation (NDIC) has revealed that a total of 26,182 fraud and forgeries cases were recorded in 2017 in Deposit Money Banks (DMBs). The NDIC said that a report […]
.. Stop commission, fees charges on forex sale The Central Bank of Nigeria (CBN) in a new circular has directed all Deposit Money Banks (DMBs) operating in the country to comply with the agreement of the Bankers Committee to begin sale of foreign exchange for invisibles at N360 per dollar, as well halt collection of […]
The drive by the Lagos State Governors, Mr. Akinwunmi Ambode to create a private- sector driven tourism economy has earned the full confidence of multinational companies, notable entrepreneurs’ business owners and managers alike across the state. This was the general consensus at a stakeholders’ review meeting held with sponsors of the Lagos Street Carnival and […]
The House of Representatives Committee on Capital Market and other Institutions on Wednesday summoned 100 chief executive officers CEOs and boards of commercial banks, oil companies and other private companies operating in Nigeria over allegations of corporate governance breaches and abuse of shareholders rights and interests. The summons by the House committee was based upon […]
Moody has downgraded to B2 from B1, the long-term local currency deposit and issuer ratings of eight banks over weaker capacity of the government to provide support. The eight banks are Access Bank Plc, Guaranty Trust Bank Plc (GTBank), United Bank for Africa Plc (UBA) and Zenith Bank Plc. Others are Union Bank of Nigeria […]
…As Reps probes NPA’s termination of INTELS contract Olufemi Samuel and Henry Omunu, Abuja A Joint Committee of the Senate on Customs, Excise and Tariff and Marine Transport, on Wednesday, said it was able to recover N140billion after an investigation it conducted on the activities of the Nigerian Customs Service (NCS). The Joint Committee said […]
The Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) has said with the global economic crisis hitting workers in the country, work can only be decent when it has fair incomes that enhances workers’ standard living standards. The National President of ASSBIFI, Comrade Oyinkan Olasanoye, disclosed this to mark the celebration of […]
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