Nigeria: Development Bank release N5bn to MFBs

The Development Bank of Nigeria, which was recently established by the Federal Government, on Monday commenced lending activities to the economy with the release of N5bn to three microfinance banks. The amount is for on-lending by the microfinance banks to 20,000 entrepreneurs operating in Micro, Small and Medium Enterprises sector of the economy. Continue reading […]

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GTBank reports billions in profit before tax: Quarter ending Sept. 2017

Guaranty Trust Bank plc has released its unaudited financial results for the 3rd quarter ended September 30, 2017, to the Nigerian and London Stock Exchanges. A review of the 3rd quarter performance shows positive growth across all key financial metrics and improved strategic positioning of the brand. Despite non-recurrence of significant FX revaluation gain during […]

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FBN Holdings appoints new secretary

FBN Holdings Plc has announced the appointment of Oluseye Kosoko as Company Secretary subject to regulatory approval. In the same vein, Tijjani Borodo, the outgoing Company Secretary will still be around for the next few months to navigate a seamless transition for the substantive Company Secretary. Tijjani will be retiring after three decades of combined […]

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Zenith Bank sacks over 1,200 employees

Today is a sad day for some employees of Zenith Bank PLC, one of Nigeria’s leading new generation banks, who were served notices terminating their appointments and services. We are unable to ascertain the actual figure of those affected, with initial report claiming no fewer than 1,200 were involved from all the bank’s branches, while […]

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GTBank welcomes holders of its U.S. $400,000.000 6.000 percent

Guaranty Trust Bank Plc (GTBank) on September 25, 2017, welcomed holders of its U.S. $400,000.000 6.000 percent. Notes due 2018 (the Securities) to delicate any of their Securities for buy by GTBank for money (One Offer) on the terms of, and subject to the conditions contained in, a delicate offer reminder dated September 25, 2017 […]

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Victoria Osondu Adefala becomes Independent Non-Executive Director of GTBank

The Board of Directors of Guaranty Trust Bank Plc (“GTBank”) has endorsed the employment of Mrs. Victoria Osondu Adefala as an Independent Non-Executive Director of GTBank. Mrs. Adefala is a proficient with more than twenty-four (24) years’ work experience which cuts over the Financial, Manufacturing and Transportation Industry and additionally the Legal calling, having worked […]

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Afreximbank move closer to serve all African countries

Membership of the African Export-Import Bank (Afreximbank) has moved closer to full coverage of the African continent with the decision by the island of Comoros to join the continental multilateral trade finance institution as a participating state. Comoros activated its membership as Afreximbank’s 46th participating state on 12 September when Said Ali Said Chayhane, the […]

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WWF, AfDB partner to fight climate change in Africa

The Wide World Fund for Nature (WWF) and the African Development Bank have joined forces to advance the work of the Africa Nationally Determined Contributions (NDCs) Hub in addressing the impacts of climate change on the continent. The African Development Bank’s Climate Change and Green Growth Department set up the African Nationally Determined Contributions Hub last August […]

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How to deploy agency banking in Africa

FINCA International, in partnership with the Mastercard Foundation, has released a case study to highlight FINCA’s journey in deploying agency banking in Africa over the past four years. The case study outlines strategic, operational and technical learning that other finance and microfinance institutions can consider when creating or building upon a similar program. Working jointly, […]

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Evacuation of dollar to Dubai a threat to naira – Gwadabe

Alhaji Aminu Gwadabe, the President of Association of Bureaux De Change Operators of Nigeria (ABCON), says consistent evacuation of dollars illegally from Nigeria to Dubai is a threat to stability of the naira. Gwadabe made the observation in an interview with the News Agency of Nigeria (NAN) in Lagos on Monday. He said that currency […]

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CBN takes another look at mobile money transactions

The Central Bank of Nigeria (CBN) has reviewed daily mobile money wallet transaction and balance limit, as well as the Bank Verification Number (BVN) requirement for mobile money wallet holders. In a circular to all mobile money operators, signed by the Director, Banking and Payments System Department, CBN, Mr. Dipo Fatokun, the apex bank explained […]

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FCMB, FG strive to stimulate Nigeria’s economic growth

The main task of governance all over the world is to provide social and economic infrastructure, protect life and property, and also create employment for the unemployed. The government is still expected to manage the economy by strategically formulating and implementing specific policies that can create opportunities for sustainable economic activities for the citizenry. The […]

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First Bank Nigeria re-commits education

It is the beginning of another school term and as students return to school after the long holidays, First Bank of Nigeria Limited remains committed to supporting schools with their business requirements to enhance preparations for the school year. FirstBank has developed an array of products and solutions targeted at enabling schools acquire attractive educational […]

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Afreximbank presents equity offering to Kenyan investors

The African Export-Import Bank (Afreximbank) has presented its equity offering to Kenyan investors aimed at raising between $100 million and $300 million through the issuance of Depositary Receipts backed by its Class “D” shares. The listing of the Depositary Receipts on the Stock Exchange of Mauritius was approved in August, opening Afreximbank’s shareholding to the […]

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Nigeria: CBN clears excess from economy for price stability sake

Central bank of Nigeria is worried about the lingering recession and is ever ready to do something about it. Now, as Nigeria gets ready to had out of recession, CBN is doing even more… To meet its core objectives of price stability, the Central Bank of Nigeria (CBN) in seven months has mop-up estimated N2.9 […]

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Best Nigerian banks that can give you business loan with ease

Many Nigerians are looking for money to start a business. It’s tough for many to get it, either because thy don’t know how to go about it or because they don’t qualify to get it. Here are some easier ways to secure business loan in Nigeria… First Bank Nigeria Plc First Bank of Nigeria has […]

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