BANKING

The Group Managing Director/Chief Executive Officer, United Bank for Africa (UBA) Plc, Oliver Alawuba, has said that the bank’s consistent investment in strengthening its digital channels have been paying off as UBA is well-positioned to meet the growing demand of its customers across Africa and beyond. Alawuba said this during...

Ecobank Nigeria has unveiled a special scheme on Back2School loans and remittances for all its customers. Head, Consumer Banking, Ecobank Nigeria, Mrs. Korede Demola-Adeniyi said the loan offerings have been developed based on the bank’s understanding of the importance of education and to further support customers with the financial freedom...

Heritage Bank Plc has tasked the youth on the need to adopt approach of setting specific savings goal that would help them to set timeline to attain their goals. The Nigerian youths were charged at the Elevate Conference in partnership with Heritage Bank, theme, “Express Me! Entertainment and me,” held...

Fitch Ratings has affirmed Ecobank Nigeria Limited's (ENG) Long-Term Issuer Default Rating (IDR) at 'B-' with a Stable Outlook. Fitch also affirmed the Bank’s Viability Rating (VR) at 'b-' and National Long-Term Rating at 'BBB (nga)'. According to a press statement by the bank, the rating agency released this rating...

  Divisional Head, Retail, SME Banking and E-Business, Unity Bank Plc, Mr. Olufunwa Akinmade, has explained that the “raison d’etre for launching the Bank’s latest retail product called Yanga is to create a unique product proposition aimed at empowering the underbanked women entrepreneurs in Nigeria”. Akinmade, who stated this during...

Our attention has been drawn to recent reports of members of the public receiving text messages with account numbers. We implore members of the public that, as a financial institution, Wema Bank takes issues around data integrity and breaches seriously, and we are currently investigating the reports. Recently, we embarked...

  The Nigeria Deposit Insurance Corporation (NDIC) said it has developed a Single Customer View (SCV) platform to be deployed to microfinance banks (MFBs) to eliminate delays often experienced in reimbursing depositors following revocation of failed MFBs licences by the Central Bank of Nigeria (CBN). Managing Director/Chief Executive of the...

  The Central Bank of Nigeria (CBN) has imposed an N800 million fine on three Deposit Money Banks in the country for violating regulations barring customers from transacting in cryptocurrencies. According to a Bloomberg report released on Wednesday, the three banks are Access Bank Plc, Stanbic IBTC, and the United...

  Fidelity Bank Plc has reaffirmed its commitment to support the Central Bank of Nigeria’s (CBN) efforts to achieve its goal of $200 billion in Foreign Exchange (FX) repatriation from non-oil exports over the next five years. The bank’s Executive Director, Northern Businesses, Hassan Imam spoke at a workshop for...

No fewer than 1,226 names of forex defaulters have been published by commercial banks in compliance with the directive of the Central Bank of Nigeria (CBN). The apex bank had directed banks to publish the names of individuals looking to trick the system to access foreign currencies. The information that...