MONEY MARKET

The Nigerian Bureau of Statistics (NBS) has said that the total value of transactions through electronic payment channels recorded in the second quarter of 2020 by Nigerian banks stood at N263.78 trillion with a transaction volume of 2,160,436,659. The report titled: ‘Selected Banking Sector Data: Sectorial Breakdown of Credit, e-Payment...

  Proposes N.30 per share interim dividend   Zenith Bank Plc presented its first-half of 2020 financial reports to The Nigerian Stock Exchange (NSE) on Thursday with stronger profitability as its profit-before-tax settling at 2.2 per cent higher year-on-year, however, profit-after-tax settled 16.8 per cent higher year-on-year, on account of...

  The Central Bank of Nigeria, CBN, has set N5 billion as minimum capital base for Mobile Money Operators in Nigeria, even as the apex bank is also willing to grant more licences for payment service banks. The Bank in a circular said that telecom firms, banking agents, retail chains...

Access Bank Plc said it has secured a Subordinated Syndicated Loan Agreement with the Dutch development bank FMO, the French private sector development bank Proparco, and a leading investment firm, Symbiotics amounting to $93.8 million. The lender said the tier-II capital facility was structured as a “10 years non-call 5...

Fidelity Bank Plc said it has reviewed its card spending limit downward as Nigeria grapples with a severe foreign exchange scarcity across various segment of its currency market. The bank in an email to customers, said that the spending limit for debit card would now be $300 monthly while that...

First Bank of Nigeria Ltd. has offered to give financial support to Small and Medium Enterprises (SMEs) in the education sector to cushion the effects of the COVID-19 pandemic. Mr Bankole Adediran, Head, Transaction Banking Products, FirstBank, made this known at the bank’s SMEConnect webinar with theme: “Managing Your School...

The Naira on Wednesday dipped slightly against the dollar at the investor’s window, closing at N388.7 to a dollar from N388.50 traded on Tuesday. Market turnover at the investor’s window stood at 29.77 million dollars, shedding 8.95 million dollars from 38.72 million dollars recorded on Tuesday, representing 23.11 per cent...

Zenith Bank Plc has again emerged as the Number One Bank in Nigeria by Tier-1 Capital in the 2020 Top 1000 World Banks Ranking published by The Banker Magazine. Climbing 29 spots from 415 in 2019 to 386 in the 2020 global ranking of banks, Zenith Bank retained its position...

First Bank of Nigeria Limited on Tuesday reiterated commitment to human capital investment, to create a strong succession plan that would take the bank to the next level. Dr Adesola Adeduntan, the bank’s Chief Executive Officer, disclosed this at First Bank Management Associates Programme (FMAP) virtual graduation ceremony held in...

Sterling Bank Plc has introduced One Partner Programme that would allow customers the benefit of enjoying passive monthly income. Mr Shina Atilola, the bank’s Divisional Head, Retail and Consumer Banking, said on Tuesday, that the programme was targeted at entrepreneurs and upwardly mobile young Nigerians and Diasporans. Atilola said in...