Home » Archives by category » All Nigeria Banks (Page 3)

400 Staffs Sacked In Heritage Bank

400 Staffs Sacked In Heritage Bank

  Heritage Bank has embarked on mass retrenchment of its workers with 400 staff sacked in December. Investigations by the News Agency of Nigeria, NAN, on Monday indicated that more workers are penciled for sack. NAN reports that the bank, in October 2014, acquired Enterprise Bank with about N56 billion ($281 million). A top management […]

Tips On How To Read Your Bank Statement

Tips On How To Read Your Bank Statement

Some people never take the time to learn how to read their bank statement. Instead, they throw out their statements or delete them from their inbox before taking a closer look. If you are in this habit, there is no better time than now to make a change. Learning how to read your bank statement is […]

We Owe Nigerian Banks Over $1bn Debt – Oil Marketers

We Owe Nigerian Banks Over $1bn Debt – Oil Marketers

“We owe some Nigerian banks over $1bn used for the importation of petroleum products, with accumulated interest of N160bn,” oil marketers under the aegis of the Independent Petroleum Products Importers (IPPI) said. IPPI said the interest had accumulated because the government could not pay them or pay the banks’ interest on the loans as agreed, adding that […]

CBN Reduces Forex Sale As Nigeria’s Eurobonds Appreciate

CBN Reduces Forex Sale As Nigeria’s Eurobonds Appreciate

Last week, the Central Bank of Nigeria (CBN) reduced its weekly foreign exchange sale to banks by 25 percent, even as prices of Nigeria’s Eurobond rose amid renewed investor’s interest. Previously the CBN have been selling $7.5 million dollars per week to banks through the interbank foreign exchange market. Financial Vanguard investigations however reveal that […]

FirstBank Online Money Transfer – Important Information on Next Day Value

FirstBank Online Money Transfer. In compliance with the CBN circular on the “Review of Operations of the NIBSS Instant Payment (NIP) System and other Electronic Payment Options with Similar Features”, please be advised that the following modifications have been made on the our FirstOnline platform. Transfers by Individual Customers: A default daily limit of N1 […]

Best And Worst Stocks For 2016

Best And Worst Stocks For 2016

The foreign exchange woes of the Nigerian economy dealt blows to the All Stock Index of the Nigerian Stock Market throughout 2016. The Naira’s decline pushed the Nigerian economy in to a recession with inflation close to 19% towards the end of the year. Still some Companies performed wonderfully during 2016 and were rewarded by the […]

Cbn Extends Stamp Duty Collection To Savings Accounts

Banks are no longer restricting the deduction of stamp duty on deposits made into current accounts, but now apply it to deposits made into savings accounts, investigation has shown. The Central Bank of Nigeria had through a circular issued on January 15, 2016 directed the Deposit Money Banks to deduct N50 stamp duty on each […]

African Markets – Factors To Watch In 2017

NAIROBI, Jan 2 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday. – – – – – GLOBAL MARKETS The dollar, oil and U.S. stocks slipped on Friday in thin pre-holiday trading on the last trading day of 2016, but ended […]

Naira Beats Analysts’ Expectation, Closed 2016 At 490/dollar

The naira beat analysts’ expectation and closed the year 2016 at 490 against the United States dollar at the parallel foreign exchange market. Due to the intense pressure on the naira, currency and financial analysts had predicted that the local currency would hit 500/dollar on or before the New Year. However, the naira was sold […]

Currencies That Suffered Most In 2016

Currencies That Suffered Most In 2016

2016 has been a roller coaster of a year, and currency markets are no exception. A few countries have fared well, but others have seen the value of their currencies fall dramatically.  Here’s a list of the currencies that have been rocked hardest in 2016: Egyptian pound: -59% Egypt took the radical decision to let […]

Contact Us