Inter-bank Rate Drops as Liquidity Pressures Ease, Naira Tumbles
Following reduced pressures on the financial system liquidity, the average interbank rate has dropped to a double-digit low, traders note shows while the Nigerian...
Oil Magnate Lauds TAJBank for Expanding the Drive for Non-interest Banking Services
Auwalu Rano, an oil Magnate and Chairman A.A. Rano Nigeria Limited, a major oil marketing company, has commended the managemen
FirstBank Processed ₦6trn transactions through FirstMonie network – CEO
First Bank of Nigeria Ltd says it has processed transactions worth over N6 trillion on its FirstMonie Agent network as at July...
UBA Assures Shareholders Better Times, Assets Hit N7.7trn
United Bank for Africa (UBA) Plc on Thursday assured its shareholders and investors of enhanced returns on investments in the coming months. This, the bank said, followed its establishment of a diversified business model that would ensure impressive performance.
43 Items Not Totally Banned, Clarifies Cardoso
The Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, has clarified that the 43 items were never explicitly prohibited from importation or sale in Nigeria.
CBN Grants 9mobile Payment Service Bank License
CBN Grants 9mobile Payment Service Bank License. The Nigeria’s central bank has granted 9mobile, a challenger telecom company, payment service bank licence.
GTBank Wins Best Bank in Nigeria at Euromoney Award
Guaranty Trust Bank Ltd. has been recognised as the” Best Bank in Nigeria” at the Euromoney Awards for Excellence 2023. The bank said in a statement on Monday that the latest recognition
FCMB Group Raises N26bn to Boost Bank’s Capital
FCMB Plc has successfully raised N26 billion Tier-1 subordinated capital from the local bond market, according to a regulatory filing submitted to the Nigerian Exchange.
Fidelity Bank Asset Quality Declines as Trouble Loans Spike
Fidelity Bank Plc’s rising impaired loans worsened the tier-2 lender asset quality, a detail from its 9-month unaudited financial statement shows. The bank posted about a 163% year-on-year increase in profit following a boost in its loan appetite.
Wema Bank: Weak Earnings, Bleak Outlook Validate Concerns on Vulnerability – Meristem
For Wema Bank Plc, the outbreak of coronavirus remains a disaster to its earnings capability as the lender struggle to compete effectively.
