BANKING

  The Central Bank of Nigeria (CBN) has said that technological developments in the banking sector have led to the increase of electronic payment system  between 2013 and 2018. The bank stated that electronic transactions via the Automated Teller Machine (ATM) increased from 295 million to 875 million between 2013...

  Sterling Bank Plc has won the Innovative Bank of the Year Award at the 2019 edition of the Electronic Payment Incentive Scheme (EPIS) Efficiency Awards organised by the Central Bank of Nigeria (CBN) and the Nigeria Inter-Bank Settlement System (NIBBS). The CBN EPIS Efficiency Awards, now in its fourth...

The Managing Director/Chief Executive Officer, Asset Management Corporation of Nigeria (AMCON), Mr Ahmed Kuru, on Wednesday, called on the Federal Government to revisit the Failed Bank Act to enable operatives in the banking sector account for their actions. Kuru made the call when officials of Risk Management Association of Nigeria...

  Cheque transactions fall 5%; BVN-linked accounts hit 36m   Statistics from the Nigerian Interbank Settlement System (NIBSS), showed that Point of Sales (PoS) usage in 2018 grew by 39.2 per cent, indicating that many Nigerians are now more attuned to the usage of the payment systems in their marketing...

Access Bank, in partnership with twenty-seven leading banks across the world, has developed new Principles for Responsible Banking, an initiative launched on 26 November, 2018 at a joint event in Paris – the UN Environment Finance Initiative’s biennial Global Roundtable and the 4th Climate Finance Day – under the patronage...

It is not more in the realm of conjecture as Diamond Bank Plc confirmed its decision to merge with Access Bank Plc, in a bid to become the biggest retail bank in Africa. “The Board of Diamond Bank Plc (“Diamond Bank”) announces that following a strategic review leading to a...

The Central Bank of Nigeria (CBN) has granted Diamond Bank Plc, approval to operate as a national bank following its application for it. The bank’s Chief Executive Officer Mr. Uzoma Dozie, said this in a statement signed by the bank’s Head of Media, Ezechinyere Anyanwu on Friday in Abuja. According...

.Says payment to verified depositors to commence soon The Managing Director/Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), Alhaji  Umaru Ibrahim on Tuesday said that the corporation has started the verification of insured depositors of 145 Microfinance Banks (MFBs), and six Primary Mortgage Banks (PMBs) that the Central Bank of Nigeria...

The Group Managing Director of the Polaris Bank Limited, Mr. Tokunbo Abiru, has said over the weekend that the bank, formerly Skye Bank Plc, would transform into one of the best five in the industry within the next five years. He gave the optimism while speaking at the graduation of...

Barely few weeks after the collapse of Skye Bank, same fate has befallen a community bank in Bauchi, Garu Micro-Finance Bank, the News Agency of Nigeria (NAN) reports. The manager of the bank, Ibrahim Abubakar, told NAN in Bauchi on Tuesday that the Central Bank of Nigeria (CBN) had revoked...