Headlines News

FG’s suit against banks struck out by court

Ihesiulo Grace 9 August 2017 0

The Federal High Court on Wednesday in Lagos, struck out the suit filed by the Federal Government seeking to recover $793.2 million allegedly kept by seven commercial banks in violation of the Treasury Single Account (TSA) policy. The defendants are: Diamond Bank, United Bank for Africa (UBA),

Banking

Court Strikes Out FG’s TSA Case Against Commercial Banks

Ihesiulo Grace 9 August 2017 0

The Federal High Court sitting in Lagos has struck out a suit filed by the Federal Government against seven leading commercial banks. The FG had previously sought to seek the remittance of the sum of $793,200,000 allegedly hidden with them in contravention of the Treasury Single Account policy instituted by President Muhammadu Buhari in late […]

Business Capital Market

Tier1 bank’s earnings, interim dividends to boost equities market this week

Ihesiulo Grace 7 August 2017 0

Tier 1 Banks are expected to hit the market with their results this week, with a declaration of interim dividends to further excite investors and hopefully bring the equities market to yet another positive close by weekend. So far, activity in the market has been driven by the expectation of earnings’ releases across sectors, but […]

Business Money

Commercial banks high-interest rate bane of agricultural development –Audu Ogbeh

Ihesiulo Grace 10 February 2017 0

High-interest rate charges from the Deposit Money Banks (DMBs) operators in the country have been identifies as the bane of agricultural development, the Minister of Agriculture and Rural Development, Chief Audu Ogbeh, has said. The minister believes that the high-interest rate from banks remained the bane of financing of agriculture and the development of good […]

Business Money

Banks move N65trn through 910m e-payments

Ihesiulo Grace 30 January 2017 0

The National Bureau of Statistics (NBS) said 910,186,115 transactions involving N65.16 trillion were recorded in 2016 as electronic payment in the banking sector. This statistics is contained in a “Selected Banking Sector Data for 4th Quarter 2016’’ released by NBS in Abuja. The report stated that ATM transactions dominated the volume of transactions recorded, with 590,

Business Money

2017: Experts warn Banks, others against retrenchment in recession

Ihesiulo Grace 27 December 2016 0

Financial experts on Tuesday warned commercial banks, industries, and small and medium scale organizations not to see massive staff reduction in 2017 as a means of surviving the current economic downturn.   From the beginning of 2016 till the third quarter of the outgoing year saw a lot of organizations, especially commercial banks retrenching in […]

News

Banks panic and shut doors over election results in Ogun State

Ihesiulo Grace 30 March 2015 0

Banks in the Ogun State capital, Abeokuta, hurriedly shut their doors against customers around 3pm on Monday as the announcement of the results of Saturday’s presidential election were being shown on national television. The closure was attributed to the fears over what the outcome of the election might be. According to reports, banks in the […]