Category Archives: Banking

CBN plans fresh banks’ recapitalisation as capital base weakens by $3.5bn

CBN plans fresh banks’ recapitalisation as capital base weakens by $3.5bn

The depreciation of the naira between 2004 when the last banking sector recapitalisation took place and now has cut the value of the capital of each Deposit Money Bank by about $175m. The recapitalisation of the banking sector, which was

Firm initiates ‘WeyMoney’ to boost clients access to loans

Firm initiates ‘WeyMoney’ to boost clients access to loans

A real estate firm LandWey Investment Limited has created a customer-centric solution that would help customers have access to loan facility for its subscribers called ‘WeyMoney’. According to the firm, WeyMoney is a loan facility with single digit interest rate and enable

Emefiele to unveil 5-Yr plan as CBN plans movie, music academies

Emefiele to unveil 5-Yr plan as CBN plans movie, music academies

As the governor of the Central Bank of Nigeria (CBN) is set to unveil his five – year plan today, the director, Corporate Communications of the apex bank has said it would be centered on growth and job creation, as

Ecobank wins award

Ecobank wins award

Ecobank said recently won the Most Admired Financial Services Brand in Africa. Brand Africa which released the top 100 brands in Africa recently, also listed Dangote conglomerate, MTN Group and Anbessa shoe of Ethiopia as highly admired brands in different

FCMB prepares customers for tax compliance

FCMB prepares customers for tax compliance

First City Monument Bank (FCMB) will on June 26, 2019, in Lagos, host a seminar on tax matters, in line with its commitment to deepen the capacity and growth of businesses in Nigeria, particularly Small and Medium Scale Enterprises (SMEs). The

Union bank shareholders endorse balance sheet reduction

Union bank shareholders endorse balance sheet reduction

Shareholders of Union Bank of Nigeria Plc yesterday approved the proposal by the board of directors for a N54.4 billion reduction from the bank’s Share Premium Account in a bid to restructure its balance sheet for optimal performance. The shareholders

Sterling Bank commits 10% loan portfolio to agric finance

Sterling Bank commits 10% loan portfolio to agric finance

Sterling Bank Plc, said it has committed 10 per cent of its total loan portfolio to funding agriculture in recognition of its significant contribution to growth of the Nigerian economy. Group Head, Agric Finance and Solid Minerals, Sterling Bank, Mrs.

Facebook to unveil white paper on cryptocurrency next week

Facebook will by next week, June 18, publish a white paper on its cryptocurrency token which is likely to be dubbed Libra Coin likely to be revealed before the end of this month according to sources in the company. Facebook

Adeosun’s input to Nigeria’s economy can’t be ignored – Experts

Adeosun’s input to Nigeria’s economy can’t be ignored – Experts

Former Minister of Finance, Mrs. Kemi Adeosun has been commended for spearheading some of the critical reforms, which have sanitised the fiscal space, reduced corruption in the federal civil service as well as stabilised the Nigerian economy. Specifically, experts said

How absence of SEC’s governing board undermines investors confidence

How absence of SEC’s governing board undermines investors’ confidence

The Investment & Securities Act (ISA 2007) specifically provides for the establishment of a board for the Securities & Exchange Commission (SEC) and outlines its functions. The board is the organ of the commission responsible for policy formulation and decision-making

Fidelity bank poised to assist Smes expands online prominence

Fidelity bank poised to assist Smes expands online prominence

Mrs Chijioke Ugochukwu, Executive Director, Shared Services, Fidelity Bank Plc, on Tuesday in Lagos said that the bank was poised to assist SMEs to establish and deepen their online visibility to grow their businesses. Represented by the Divisional Head, Managed

Up against the tide Godwin Emefiele

Up against the tide Godwin Emefiele

As many of us already know, balancing the objectives of price stability with output stabilisation, especially in the face of external headwinds, remains a challenge to monetary policy and central banks, particularly in emerging and developing economies. Since the global