MONEY MARKET

As part of efforts to stimulate economic activities in the country, the Central Bank of Nigeria (CBN) on Monday directed commercial banks and other authorised dealers in the foreign exchange (forex) market to ensure that 60 per cent of total forex purchases are channelled to end users strictly for the...

As Fidelity Bank Plc begins its “Get Alert in Millions” promo, it has promised to reward its lucky customers with N105 million cash. I addition to the cash, the bank also revealed that there is also 138 customers fridges and generating sets to be won by the customers as consolation...

Following the Central Bank of Nigeria (CBN) Commission on Turnover reduction to N1 per mille on every N1000, Deposit Money Banks (DMBs) in the country have leverage on income generation using electronic banking. For instance, Guaranty Trust Bank, Zenith Bank Plc and First Bank of Nigeria Holdings Plc generated a...

The Managing Director/Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim, has charged the Management of Jaiz Bank Plc to strengthen its corporate governance in order to weather the storm of economic challenges that is currently facing Nigeria’s banking industry. The Corporation chief, gave the advice during a courtesy...

Ecobank has won Customer Relationship Management of the Year, Retail Risk Management Initiative of the Year and Best Business Model Execution in West Africa for 2016 at The Asian Banker’s 1st Annual West Africa Awards Ceremony held in Lagos recently. The Best Retail Banker in Africa award went to Patrick...

  Wema Bank Plc’s in its unaudited result and accounts for the half year (H1) period ended June 30, 2016 showed an impressive performance, as it was able to grow profitability and other key financial parameters. This year has characterized by deceleration on a number of economic indicators coupled with...

  Advises customers to ignore malicious massage against the bank The Central Bank of Nigeria (CBN) has reemphasised its earlier calls that there is no problem whatsoever with Skye Bank Plc, declaring that the bank is neither distressed nor liquidated. The apex bank in a statement signed by its Acting...

Amid macro economy challenges, Guaranty Trust Bank Plc has announced N91.4 billion profit before tax in its audited hal- year period ended June 30, 2016. In its results posted on the Nigerian Stock Exchange website today, the leading in profitability bank announced a growth of 44.8 per cent in profit...

In its efforts to tackle liquidity challenges, the managing director, Jaiz Bank Plc, Mallam Hassan Usman, said the bank is in process of developing sharia compliant investment instruments in Nigeria. He disclosed that the corporation wishes Debt Management Office (DMO) and the Federal Ministry of Finance to expedite the commencement...

  …Naira in circulation hits N1.66trn The Central Bank of Nigeria (CBN) loan to banks rose sharply last week by 13 per cent to N207 billion. Business247 online news reveal that lending to banks through the CBN’s Standing Lending Facility (SLF) dropped from N239 billion the previous week to N207...