MONEY MARKET

Skye Bank stocks dropped by 43 per cent to N0.60, the lowest in three months as investors continued to sell-off after the Central Bank of Nigeria (CBN) replaced its board and management. The lender stock which was selling at N1.05 on Monday, July 4, 2016 when the CBN announced the...

Zenith Bank Plc has launched a new mobile banking solution to make banking simpler and interesting. The bank’s *966# Eazybanking solution, which was recently launched into the Nigerian market, will complement the effort of the Central Bank of Nigeria (CBN) to build a cashless economy and enhance financial inclusion. The...

Nigeria's interbank overnight lending rate rose for the second consecutive week on Friday to an average of 15 percent from 10 percent a week ago, as banks scrambled for liquidity to settle bond purchases. Nigeria sold 120 billion naira worth of local currency-denominated bonds with mixed yields compared with the...

The driving force of the contemporary banking operation is electronic platform, as it makes banking easier and comfortable. As a result of this, the emergence of Automated Tellers’ Machine (ATM) has reduced queues in the banking hall, by taking banking services closer to the people. But as useful as this...

  as UBA stock now best performing on the exchange Fitch Ratings, one of the foremost global rating agencies, has affirmed United Bank for Africa (UBA) Plc’s viability rating at “B”, as the pan-African banking group continue to sustain its benchmark asset quality and strong profitability amidst industry and macroeconomic...

Guaranty Trust Bank remains one of the top two rated Banks in Nigeria as shown by the recently released Rating Report by Fitch, a global rating agency. Fitch revised the Outlook on the Bank’s Long term Issuer Default Rating (IDR) from Negative toStable citing the Bank’s continuing strong earnings and...

FirstBank of Nigeria Limited is targeting to grow its customer base by over 10 million new customers in the next three years. The expansion is in sync with the bank’s financial inclusion initiative. Managing Director and CEO, FirstBank of Nigeria Limited and Subsidiaries, Dr. Adesola Adeduntan, who disclosed this in...

    The Managing Director of Heritage Bank, Ifie Sekibo has denied the report of a takeover of the bank by the Central Bank of Nigeria (CBN) and threatened to take action against those bearing what it described as unfounded rumors about the bank. There have are been several news...

Niyi Olaoye Fitch Ratings, a global leader in credit ratings and research, has affirmed the long-term National Rating of Wema Bank at BBB- to reflect the improvement in creditworthiness over time relative to the best credits in Nigeria. In Fitch’s opinion, the banking industry will remain challenging considering volatile and...

The Chartered Institute of Bankers of Nigeria (CIBN) has inaugurated new committees of council, in a bid to see to the administration of the general affairs of the institute. The new committee will be reporting directly to the Governing Council of the institute with the immediate tasks of repositioning of...