Category Archives: Banking

Fidelity Bank supports financial inclusion with N13m

In a bid to boost financial inclusion, Fidelity Bank Plc., on Tuesday splashed 12 of its loyal customers with N13 million at the fifth draw

Money is not for spending

Money is not for spending

Many folks have the mindset that money is for spending. Consequently, the only thing they know how to do when it comes to money is

Access Bank records 58 per cent profit in full year

Access Bank records 58 per cent profit in full year

Access Bank Plc full year audited financial results for the period ended December 31, 2018, showed 58 per cent rise in Profit after Tax (PAT)

UBA grosses N494b, as profit after tax settles for N79b in 2018

UBA grosses N494b, as profit after tax settles for N79b in 2018

United Bank for Africa Plc (UBA) has achieved N494 billion gross earnings in its 2018 operations, against to N461.6 billion recorded in the corresponding period

Stanbic IBTC to provide N18bn facility for Eland Oil & Gas

Stanbic IBTC to provide N18bn facility for Eland Oil & Gas

Stanbic IBTC, working with its group brand, Standard Bank Group of South Africa, has partnered Eland Oil & Gas,  West Africa with an initial focus

The monetary policy committee meeting of Monday 21st and Tuesday 22nd January, 2019

The monetary policy committee

Central Bank Of Nigeria Communiqué No. 122 Of The Monetary Policy Committee Meeting Of Monday 21st And Tuesday 22nd January, 2019 Background The Monetary Policy

UPMFB Disburses N1.1bn Loans to Customers

UPMFB Disburses N1.1bn Loans to Customers

The Umuchinemere Pro-credit Micro Finance Bank Enugu (UPMFB) disbursed a total of N1.1billion as loans to its customers Economy in 2018. The credit facilities where

CBN, NIPOST to kick off microfinance banking in seven locations

microfinance banking in seven locations

The Central Bank of Nigeria and the Nigerian Postal Service are set to kick off the establishment of a National Microfinance Bank with pilot projects

You cannot solve everyone’s financial problems

You cannot solve everyones financial problems

You cannot solve everyone’s financial problems If you are kind-hearted, chances are you are carrying around a burden of guilt thinking you are supposed to

Investors’ fortune soars by N405b as market hits N11.8 trillion

Despite the N280 billion losses incurred by investors in two trading days, following the announcement of the presidential election result, the Nigerian Stock Exchange (NSE) gained N405 billion in the month of February 2019. Specifically, the market capitalisation of listed equities, which opened at N11.424 trillion as at Friday, February 1, 2019, stood at N11.829 trillion when the market closed for the month on February28, 2019, representing N405 billion or 3.4 per cent gain. Also, the All-Share Index that measures the performance of quoted companies rose by 1,085.4 points from 30,636.36 points to 31,721.76 points. The stock market had last week Thursday, shed N194.84 billion on the back of sell off in blue-chip stocks like Nestle Nigeria, Nigerian Breweries, Guaranty Trust Bank and Stanbic IBTC Holdings. Nestle lost N30, or two per cent; NB, N3.70, or 4.45 per cent; GTBank closed N2.50 or 6.85 per cent lower; Stanbic IBTC Holdings, N2.05, or 4.23 per cent; and Dangote Flour Mills, N1.05, or 8.79 per cent. Thursday’s loss was the biggest since the release of Nigeria’s February 23, 2019, Presidential election results on Wednesday morning, with the Independent National Electoral Commission (INEC) declaring incumbent President Muhammadu Buhari winner. The main opposition Peoples Democratic Party (PDP) has however protested the outcome and hopes to seek redress in court, a development that may not be co-incidence that the stocks, which dominated Thursday’s loss, are those blue-chip stocks played by foreign investors. At the end of trading for the month, Seplat still gained N84, recovering partly from its N105 loss in January; Nestle also recovered N30 from prior month’s N45 loss; the N19 by Beta Glass was enough to wipe off its N8.30 loss in January; Presco gained N15, which more than atoned for the N4.00 loss it sustained in the preceding month; just as NB’s N5.50 was not enough to wipe off its N11.50 decline in January.

Despite the N280 billion losses incurred by investors in two trading days, following the announcement of the presidential election result, the Nigerian Stock Exchange (NSE)

How to earn more from fixed deposits

How to earn more from fixed deposits

If you have some money in the bank and you have no plans to spend it now, you can transfer it to a fixed deposit

6 Reasons Why You Should Save

6 Reasons Why You Should Save

You should make it a priority to start saving early. It is one of the best ways to take control of your finances especially in