BANKING

A Bill sponsored by Kaduna Central Senator, Uba Sani for an Act to Amend the Banks and Other Financial Institutions Act (BOFIA 1991) on Tuesday passed second reading in the Senate. Giving the hint on Wednesday, Uba Sani said, the “Banks and Other Financial Institutions Act (Repeal and Re-enactment) Bill...

The United Bank for Africa Plc (UBA), on Monday, upgraded its mobile banking applications with unique and exciting features that would make banking easy for Nigerians. Mr Sampson Aneke, the Group Head, Digital Banking, at an online media parley in Lagos, said the bank’s aim was to establish digital dominance...

Access Bank Plc has rewarded 10 customers with one million naira each and 28 female customers with N100,000 each in its DiamondXtra monthly draw. Mr Victor Etuokwu, the bank’s Executive Director, Retail Banking, said in a statement on Saturday that the draw was held at the bank’s headquarters  in Lagos. He...

Dr Uche Olowu, outgoing Chairman of Council, Chartered Institute of Bankers of Nigeria (CIBN), has urged stakeholders in the banking industry to leverage on emotional intelligence to build ethical leadership in the sector. Olowu, also the 20th President of CIBN, made the call while delivering his presidential valedictory address via...

  Ecobank Nigeria has reiterated that its agency banking scheme, also known as Xpress Points, is building entrepreneurs and pushing financial inclusion to the large unbanked and under-banked population in Nigeria. The Ecobank Xpress Point enables eligible Agents to carry out financial transactions on behalf of Ecobank and earn commission...

Keystone Bank (Nigeria) Limited has launched an online platform to empower Small and Medium Scale Enterprises (SMEs) with knowledge to manage and grow their businesses in the midst of the COVID-19 pandemic. The bank disclosed this in a statement on Wednesday in Lagos, remarking that one way to identify an...

Access Bank Plc on Monday denied news making rounds that it would sack 75 per cent of its workforce and as well close over 300 branches. The bank denied this in a statement signed by Mr Sunday Ekwochi, its Company Secretary, posted on the Nigerian Stock Exchange (NSE) website. It...

  Bank accounts totalling 300,000 were abandoned by Nigerian bank account holders in the first quarter of 2020, the latest statistics from the Nigerian Interbank Settlement Scheme has revealed. Between Q4 2019 and the period under review, the number of current accounts in the country contracted by one million, implying...

The National Deposit Insurance Corporation (NDIC) has warned members of the public to stop patronising wonder banks that are offering mouth-watering interest rates. The Managing Director of the Corporation, Alhaji Umaru Ibrahim, gave the warning at the ongoing 31st Enugu International Trade Fair in Enugu on Wednesday. Ibrahim said the...

  The United Bank for Africa (UBA) has officially added a new touch point to its network as its new branch in Afriland towers on Lagos Island, was inaugurated by Governor of Lagos state, Mr. Babajide Sanwo-Olu and the Chairman of UBA, Mr. Tony Elumelu. According to a statement, the...