BANKING

Heritage Bank Plc in its continued bid to support Micro, Small and Medium Enterprises (MSMEs), has again empowered the winner of The Next Titan Season-7 with sum of N10million. An entrepreneur, Joshua Joseph Idiong who is the CEO of Josult Oil Processing Company, a palm oil processing company in Akwa...

  The Central Bank of Nigeria (CBN) says it will investigate the scarcity of funds witnessed by customers in most Automated Teller Machines (ATMs) in Lagos State. The CBN‘s Acting Director, Corporate Communications, Mr Osita Nwanisobi told the News Agency of Nigeria (NAN), on Wednesday, that ATMs were introduced so...

The Central Bank of Nigeria (CBN) has withdrawn the operating licenses of 42 microfinance banks (MfBs). The affected banks were said to have been shut down. The Nigeria Deposit Insurance Corporation (NDIC) has stepped in to wind down the banks. In a statement, the NDIC said it would promptly commence...

  The Managing Director, Ecobank Nigeria, Mr Patrick Akinwuntan, has said that the success of the African Continental Free Trade Area will depend heavily on the financial services industry’s ability to facilitate the liberalisation process. He was quoted to have said this in a statement by the bank on Sunday...

  says another portfolio crisis would be too huge for the Nigerian economy to afford   McKinsey & Company, a management consulting firm, in a report on Tuesday said that another round of consolidation in the nation’s banking industry is inevitable for them to thrive by growing capital base quicker...

The Central Bank of Nigeria (CBN) has announced that beneficiaries of diaspora remittances through the International Monetary Transfer Operators (IMTO) will now receive such inflows in foreign currency (US Dollar) through the designated bank of their choice. CBN in a statement signed by O.S. Nnaji, Director of Trade and Exchange,...

Global ratings agency Moody has said that Nigerian banks foraying into new markets across Africa or branching out into other financial services will be more protected from headwinds than they were in the heat of the 2007-2008 global financial meltdown. The New-York based firm foresaw that diversification would bring resilience...

  The Central Bank Governor, Mr Godwin Emefiele, is to present the banking industry’s scorecard for 2020 at the 55th Annual Bankers Dinner organised by the Chartered Institute of Bankers of Nigeria (CIBN), on Nov. 27. Emefiele is also expected to provide economic insight into 2021 monetary policy and regulatory...

  The Managing Director, Ecobank Nigeria, Patrick Akinwuntan has said the bank was stepping up awareness campaign and advocacy on Non-Communicable Diseases (NCDs), particularly, the dreaded Diabetes, saying reports from credible organisations had shown that the diseases are spreading rapidly across Africa but regrettably most people are ignorant that they...

Heritage Bank Plc has rewarded the winners of the rendition of the October 1st National Pledge in Pidgin English in celebration of Nigeria’s 60th Independence Anniversary. The four patriotic Nigerians, who emerged as the winners are Idowu Ilesanmi (Lagos); Christiana Chukwu (Lagos); Onovo Chukwuebuka (Edo) and Paul Eze (Abuja) received...