MONEY MARKET

Zenith Bank Plc has announced 25 per cent increase in Profit Before Tax (PBT) from N125.6 billion in 2015 to N156.7 billion in 2016, driven by significant increase in non-interest income and gross earnings. Also, Zenith Bank reported a Profit After Tax (PAT) of N129.7 billion in financial year ended...

Central Bank of Nigeria (CBN) said it has disbursed $2.83 billion to critical sectors of the economy in December and January, it said in a statement on Thursday, in an attempt to kickstart a struggling economy. The nation’s economy is wallowing in its first recession in a quarter of a...

The Central Bank of Nigeria (CBN) has debunked claims that about 20 per cent of the naira notes in circulation were counterfeit. The CBN in a statement on Tuesday said that the security features in the currency had made it difficult for the naira to be counterfeited and that less...

The African Export-Import Bank (Afreximbank) and Ecobank Transnational Incorporated (ETI), have signed a Memorandum of Understanding (MoU) to promote $500 million  joint corporate objectives through the financing of private sector projects and trade finance transactions, focusing particularly on transactions involving trade and investment in Afreximbank member countries where Ecobank also...

The Nigerian currency, Naira at the weekend depreciated further to close at 506 per US dollar on the parallel market, this indicates a total drop of six points compared to N500 that it exchanged in the previous day, foreign exchange traders have said. The local currency has hovered near the...

The Central Bank of Nigeria, CBN has revealed that the Federal Government mill raise about N142.43 billion (about $453.60 million) from the issuance of short-term treasury bills to be auctioned on February 15. The auction is expected to raise about N32.43 billion in three-month debt, N30 billion in six-month bills...

As part of propositions to enriching lives and in the spirit of Valentine, Sterling Bank has launched a campaign tagged #THINGSWEDOFORLOVE. The campaign which is online and offline would cut across its internal and external stakeholders. The Bank has also announced the introduction of other programmes and events to delight...

Unity Bank Plc has introduced an electronic product tagged " Unity 1 Account" that puts customers in charge of their banking experience, offering greater electronic convenience and interactivity for online account opening with minimal documentation. With Unity1 Account, customers are able to open their bank accounts and carry out transactions...

Thirty-two lucky customers of Skye Bank Plc., across different business locations of the Bank, have emerged winners in the on-going Western Union campaign. The winners who emerged through a raffle draw, won various prizes which include N60,000 worth of shopping vouchers for 10 Star customers who received and sent transfers...

Niyi Olaoye The management of Wema Bank Plc and Sterling Bank Plc are both currently shopping for a replacement for their incumbent Group Managing Directors whose tenure both expire in June and December respectively, Bussiness247 Online News exclusively revealed. It would be recalled that the Central Bank of Nigeria (CBN)...