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Wema Bank Takes Savings Products To LASU

Wema Bank Takes Savings Products To LASU

Wema Bank Plc is promoting savings culture and digital banking experiences among the newly admitted students of Lagos State University (LASU). Speaking during the LASU 2017 orientation programme, held at its Ojo campus, Wema Bank Regional Manager, Apapa, Femi Olowoyeye, said the lender had been participating in institution’s orientation programme for the past two years, […]

CBN Moves To Ease Forex Scarcity

CBN Moves To Ease Forex Scarcity

The Central Bank of Nigeria (CBN) yesterday ordered all banks to open foreign exchange (forex) kiosks at major airports and approved outlets.The order was issued barely 24 hours after The Guardian exclusively reported that passengers were stranded at the international airports on account of dollar scarcity. [ATTACH=CONFIG]6778[/ATTACH] The move is to ease acute forex scarcity […]

FCMB Gets New Md, As Ladi Balogun Becomes Group CEO

FCMB Gets New Md, As Ladi Balogun Becomes Group CEO

The board of FCMB Group Plc, on Monday announced the appointment of Adam Nuru, formerly Executive Director, Business Development of its flagship First City Monument Bank Limited, as new chief executive. He replaces Ladi Balogun who steps down after a decade in the saddle in line with the directive of the Central Bank of Nigeria […]

Nigeria Central Bank To Sell Fx Weekly To Retail Users At 375 Naira

Nigeria Central Bank To Sell Fx Weekly To Retail Users At 375 Naira

Nigeria’s central bank plans to sell $1 million weekly to each of the country’s 21 commercial lenders at a rate of 375 naira to clear a backlog of demand and try to narrow the premium between the official and black market rates, traders said on Monday. Traders said commercial lenders have compiled a list of […]

Nigeria Naira Hits New Black Market

Nigeria Naira Hits New Black Market

Nigeria naira hit a fresh low of 520 on the black market on Monday, as retail currency traders tried to digest a new central bank decision to sell dollars to retail users through commercial lenders, one retail trader said.   The central bank plans to sell $1 million weekly to each of the country’s 21 […]

Growing The Economy Through Forex Allocation

Growing The Economy Through Forex Allocation

While Nigeria faces shortage of foreign exchange, it is essential that critical sectors of the economy that would spur growth and development have access to dollars in order to speed up the recovery of the the nation’s economy. Last year, Nigeria was officially said to be in recession although the symptoms had been there for […]

Stock Market Continues To Bleed As 25 Equities Record Price Losses

Stock Market Continues To Bleed As 25 Equities Record Price Losses

    Among the stocks that depreciated in price last week were Vitafoam Nigeria Plc which led other decliners by 13.04 per cent from N2.30 to N2.00 per share. This was trailed closely behind by Fidson Healthcare Plc with negative return of 11.40 per cent to close at N1.01, followed by Nigerian Breweries Plc with […]

5 Firms, 17 Stockbrokers Probed By SEC Over Shares Fraud & Impersonation

5 Firms, 17 Stockbrokers Probed By SEC Over Shares Fraud & Impersonation

In its bid to sanitise the capital market, the Security and Exchange Commission (SEC) has probed a total of six dealing member firms and 17 stockbrokers over unauthorised sales of investors’ shares and impersonation between January, 2016 and February, 2017. SEC had turned the heat on some operators in the capital market with a view […]

Diamond Bank Rewards Customers With N4m

Diamond Bank Rewards Customers With N4m

Two lucky customers of Diamond Bank have been rewarded with N2 million each for emerging the two millionth customers to open a Diamond Y’ello account and download, register and carry out financial transaction with its digital financial platform, Diamond Mobile app. A tailor, Tasiu Mansur, who emerged the two millionth Diamond Y’ello active account holder […]

Experts Insist CBN Must Float Naira

Experts Insist CBN Must Float Naira

Economic experts yesterday in Lagos insisted that the Central Bank of Nigeria (CBN) must float the naira to deliver the nation from the current economic quagmire, noting that the current policy of the apex bank on forex lack direction and does not boost confidence of investors. The experts, who gathered at a breakfast meeting organised […]

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