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Fitch: Nigerian banks In Trouble

Fitch: Nigerian banks In Trouble

Fitch Ratings has declared that Nigerian banks are operating in increasingly difficult conditions as this may result in a sharp deterioration of their profitability, asset quality, liquidity and capital ratios. Fitch in its report released weekend said “The sector outlook is negative in December. Gross Domestic Product, GDP figures for second quarter show weaker year-on-year growth […]

Sanusi To Examine Global Ethical Finance

Sanusi To Examine Global Ethical Finance

A former Governor of the Central Bank of Nigeria and Emir of Kano, Muhammad Sanusi II, and other key stakeholders from the various segments of the ethical finance industry will gather at the 2015 Global Ethical Finance Forum starting on Tuesday (tomorrow). The forum will host representatives of the United Nations Principles for Responsible Investment […]

Stakeholders Emphasis On Services In Banking Industry

Stakeholders Emphasis On Services In Banking Industry

Financial experts and stakeholders in the economy have emphasised the importance of the financial services sector to economic growth of the country and said that banking industry players must uphold the values of integrity and patriotism. They said the financial sector must be based on strong values that seek the collective good of everyone if […]

Nigeria: President’s Key Men Emerged

Nigeria: President’s Key Men Emerged

Abuja and Lagos — Eighty-nine days into his administration, President Muhammadu Buhari yesterday named key officials who will assist him in the complex task of governance. In the announcement made on the 30th anniversary of the overthrow of his military government by Gen. Ibrahim Badamasi Babangida, Babachir David Lawal emerged the Secretary to the Government […]

Nigerian Apex Bank Issues Time Limit For Resolution

Nigerian Apex Bank Issues Time Limit For Resolution

Following recent challenges in ensuring timely resolution of complaints from consumers of financial services against financial institutions under its regulatory purview, the Central Bank of Nigeria (CBN) has fixed a time limit of six years, effective within which complaints against financial institutions can be lodged. Nigeria’s This Day newspaper report on Friday said that the […]

Buhari Names Banker As Chief Of Staff

Buhari Names Banker As Chief Of Staff

Abuja (AFP) – Nigeria’s President Muhammadu Buhari made former United Bank for Africa chief Alhaji Abba Kyari his new chief of staff Thursday, as part of his first senior government appointments since taking office. Kyari, who has degrees in law and sociology from Cambridge and Warwick universities in the United Kingdom, has held a number […]

Interbank Rates Ease On Cash Inflows

Interbank Rates Ease On Cash Inflows

The nation’s interbank lending rates fell sharply to 8.25 per cent on average this week from 40 per cent last week after budgetary allocations to government agencies on Thursday raised liquidity levels in the money market. The cost of funds among commercial lenders rose sharply in the week to over 100 per cent as the […]

Fidelity Emerges As The Best Bank to Work In Nigeria

Fidelity Emerges As The Best Bank to Work In Nigeria

In a study conducted by Venture Africa, an online platform for news and analysis about African businesses, in conjunction with Jobberman.com, Nigeria’s employment website, the lender emerged one of the top 12 most preferred places to work in the country. The report tagged “Top 100 companies for Nigerian millennials” surveyed young Nigerians born between 1982 […]

CBN Denies Importers Foreign Exchange Market-Expert

CBN Denies Importers Foreign Exchange Market-Expert

The decision of the Central Bank of Nigeria to deny importers of 41 items access to the nation’s foreign exchange markets through Deposit Money Banks is paying off and is in the right direction, a financial expert has said. Two months after the controversial decision, the Chief Executive Officer, Enterprise Stockbrokers Plc, Mr. Rotimi Fakayejo, […]

CBN Aproves Heritage Bank And Enterprise Bank.

CBN Aproves Heritage Bank And Enterprise Bank.

The Central Bank of Nigeria has granted a final approval for the merger of Heritage Bank and Enterprise Bank. The Federal High Court has also approved the merger. The approvals came almost one year after Heritage Bank won the bid for the acquisition of Enterprise Bank. “The management of the Central Bank of Nigeria has […]

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