Banking & Insurance
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Why CBN Revoked Skye Bank License
The Central Bank of Nigeria, CBN says it revoked the license of Skye Bank after examinations and forensic audit that revealed that the bank requires urgent recapitalisation. Godwin Emefiele, Governor of the CBN also disclosed that Skye Bank can no longer continue to live on borrowed times with indefinite liquidity support from the CBN. According […] More
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GTBANK Food and Drink Fair Ends With a Flourish
The event is the sort that lingers in the memory long after it has held. Different International chefs from around the world, witnessed the event tagged -Gtbank Food and Drink Fair 2018. The annual fair which lasted from April 29th to May 1, held at Oniru-Lekki, Lagos. Its aim is to connect buyers and sellers […] More
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$500m Eurobond: Global Investors Validate UBA’s Pan-African Growth Strategy
Group Managing Director and Chief Executive Officer, United Bank for Africa Plc., UBA, Kennedy Uzoka says the $500 million Eurobond raised by the bank, which was 240 percent over-subscribed, reflects the strong global investor appetite for UBA’s credit and support for the Group’s pan-African financial services strategy. According to the Bank, the Global Offering is a five-year […] More
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CIBN Hosts World Conference Of Banking Institutes
The Chartered Institute of Bankers of Nigeria,CIBN, has announced its readiness to host all banking institutes, including over one thousand banking and finance professionals in the world at the 22nd edition of the World Conference of Banking Institutes which holds in Lagos from April 24 to 28, 2017 at Eko Hotels & Suites, Victoria Island, […] More
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Fidelity Bank Launches NIBSS mCash Product
As part of the renewed efforts to further drive the financial inclusion mandates of the Central Bank of Nigeria, CBN, Fidelity Bank Plc has gone live on the Nigerian Inter-Bank Settlement System, NIBSS mCash product which will allow it’s registered merchants to receive payments from customers using their phones. Launched in collaboration with the NIBSS, […] More
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Fidelity Bank Gets New Board Leadership
Fidelity Bank Plc appoints three new non-executive directors, among them, a former deputy governor of the Central Bank of Nigeria A former Deputy Governor of the Central Bank of Nigeria, CBN, Ernest Ebi has emerged as a non-executive director and chairman designate of the board of directors, Fidelity Bank Plc. The appointment comes on the […] More
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Financial Inclusion Is Our Goal – Ade Ayeyemi
Financial Inclusion Is Our Goal – Ade Ayeyemi, Group Chief Executive Officer, Eco Bank, What is Ecobank’s overall vision and new strategy to increase its customer base? Our goal is to create an Ecobank that serves as a leader not only in the market but a leader that solves problems that face our customers, ensures financial inclusion […] More
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Diamond Bank Declares Profit in Half-year Report
Diamond Bank plc, has posted an impressive performance scorecard. Assuring its stakeholders of its ability to sustain growth in all parameters, the financial institution increased its gross revenue from N96.8 billion in the half year of 2014 to N103.0 billion as at end of June 2015. Uzoma Dozie, group-managing director of the bank, attributes the […] More
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Sterling Bank Stable, Gets Moody’s B2 Rating
Moody’s Investors Service, a leading global rating agency, has assigned first-time local and foreign currency issuer and deposit ratings of B2 with stable outlooks to Sterling Bank Plc, including a Counterparty Risk Assessment, CRA, of B1 (cr)/Not Prime (cr). A statement by the Agency stated that the ratings are underpinned by a b3 baseline credit […] More
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Gratuities: Court Strikes Out Former Fidelity Bank Staff Suit
Justice James Agbadu-Fishim of the National Industrial Court, NIC, Lagos, has dismissed the case of unpaid gratuity and allowance involving Fidelity Bank Plc and Andrew Awoyemi, a former staff of the bank. While striking out the case at Court 1 of NIC,Ikoyi on Friday, Agbadu-Fishim held that both the claim and counterclaims lack merit. In […] More
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CIBN Wins 22nd WCBI Hosting Right
The Chartered Institute of Bankers of Nigeria has won the right to host the 22nd World Conference of Banking Institutes, WCBI, which will take place in 2017. The biennial conference for all the banking institutes across the globe commenced in Edinburgh Scotland, in 1975, as part of activities to commemorate the Centenary celebrations of the […] More
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CBN, Banks to Bar Bad Debtors from Purchasing Forex
The Central Bank of Nigeria, CBN, and banks, under the aegis of the Bankers Committee have decided to bar bad debtors from purchasing foreign exchange in the inter bank foreign exchange market. Committee which comprises of the top management of CBN, Nigeria Deposit Insurance Corporation, NDIC, and chief executives of banks took the decision on […] More
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