BANKING

  The Central Bank of Nigeria (CBN) has approval-in-principle the application of Sterling Bank Plc to restructure from a stand-alone commercial bank to a holding company (holdco) structure. A regulatory filing obtained by the bank indicates that the bank has already commenced the process to obtain the final approval for...

In the quest to aid speedy economic recovery and impactful service delivery to stakeholders caused by macro-economic headwinds and Covid-19, banking sector’s players have been charged to maximize the opportunities by re-strategizing its roles that will address emerging risks. The MD/CEO of Heritage Bank Plc, Ifie Sekibo made the call...

The Managing Director, Ecobank Nigeria, Patrick Akinwuntan has reiterated that the future of Nigerian banking would continue to be shaped by innovations and technology disruptions, stressing that only financial institutions that are amenable to such transformation will remain relevant in the sector. According to Akinwuntan, there was no way banks...

The Central Bank of Nigeria (CBN) has granted Greenwich Trust Limited a licence to operate as a merchant bank in the country. An email from Greenwich Trust Limited on Thursday said the entity would be known as Greenwich Merchant Bank Limited. “This licence allows Greenwich Merchant Bank to upscale and...

Banking stakeholders have, in unison, insisted that banks must play a critical role to restore the Nigerian economy from the negative effects of COVID-19. Speaking at the Chartered Institute of Bankers of Nigeria (CIBN) 13th Annual Bankers Conference in Abuja, the bank chiefs that included  Godwin Emefiele, Governor Central Bank...

Fidelity Bank Plc plans to issue a N100 billion ($261-million) bond in the local currency to boost its capital ratios and funding capacity. Blomberg quoted Chief Executive Officer Nnamdi Okonkwo as having said by phone that the Lagos-based bank wants to issue the debt in a series, starting with a...

 First Bank of Nigeria Ltd. has graduated 12 candidates in its Senior Management Development Programme (SMDP) to enhance their leadership and strategic business skills for sustainable growth in the banking sector. Mrs Folake Ani-Mumuney, Group Head, Marketing and Corporate Communications, FirstBank, in a statement on Friday in Lagos, said that...

Prof. Olayinka David-West of Information Systems/Academic Director, Lagos Business School, has urged banking institutions to embrace digital economy to address the increasing numbers of people visiting their branches daily. David-West gave the advice on Saturday at the first ever Virtual Graduates’ Induction and Prize Awards Day organised by the Chartered...

KPMG Professional Services, says it will release Digital Channels Scorecard for banks to urgently scale up on capabilities to deliver products and services via digital channels. Mr Boye Ademola, the Partner and Lead Digital Transformation, KPMG Africa, said at a zoom virtual press briefing in Lagos on Wednesday that it would be released on ...

Dr Titus Okunrounmu, a former Central Bank of Nigeria (CBN) director, has advised commercial banks to adhere to CBN guidelines in granting loans to investors to reduce bad loans in the financial sector. Okunrounmu gave the advice on Wednesday in an interview with the News Agency of Nigeria (NAN) in...