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CBN – Render Forex Returns In Uniform Format

CBN – Render Forex Returns In Uniform Format

The Deposit Money Banks on Thursday has been directed by the Central Bank of Nigeria  to render returns on foreign exchange in a uniform format. The apex bank has been under pressure in the last few weeks over its policy on foreign exchange management which some people have described as unfriendly to the business and investing […]

Fitch Downgrades FirstBank, GTB, Zenith, Diamond To Negative

Fitch Downgrades FirstBank, GTB, Zenith, Diamond To Negative

Global rating agency, Fitch Ratings, has downgraded the rating of four Nigerian banks from “stable” to “negative” The banks are First Bank of Nigeria Limited, Guaranty Trust Bank Plc, Zenith Bank Plc and Diamond Bank Plc. The lender also said it had affirmed the Long-Term Issuer Default Ratings of 10 financial institutions in Nigeria. In […]

Access Bank To Divest From Stanbic IBTC Pension Managers

Access Bank To Divest From Stanbic IBTC Pension Managers

Access Bank Plc is to divest from Stanbic IBTC Pension Managers Limited (SIPML) in compliance with the Central Bank of Nigeria (CBN)’s regulation on the Scope of Banks Activities and Ancillary Matters. Access Bank holds 17.56 per cent equity in SIPML. However, in a notification to the Nigerian Stock Exchange (NSE), made available yesterday, Access […]

CBN To Penalise Banks With Cash Problems

CBN To Penalise Banks With Cash Problems

The Central Bank of Nigeria has said it will penalise Deposit Money Banks that have liquidity challenges by way of temporary suspension from its lending window. In a circular issued on Wednesday, the apex bank announced a change in its rules of engagement with the banks, spelling out new rules regarding how financial institutions could […]

CBN Reads Riot Act On Transaction Settlement

CBN Reads Riot Act On Transaction Settlement

  The warning giving out yesterday by CBN says that any authorised dealer that defaults in the settlement of any auction or 2-way quote with the CBN in the financial market would be duly punished. The punishment includes suspension from all auctions as well as from its discount window. The central bank stated this in a […]

Keystone Bank, MD In Trouble Over N4bn Illegal Transaction

Keystone Bank, MD In Trouble Over N4bn Illegal Transaction

  These are not the best of times for Keystone Bank Limited and its managing director/chief executive officer, Mr. Phillip Ikeazor as the House of Representatives on Monday urged the Economic and Financial Crimes Commission to commence investigation into an alleged illegal movement of N4 billion from the Industrial Trust Fund’s account domiciled with the […]

Black Market Naira At 499 Per Dollar 39 %Discount On Nigeria Rate

Black Market Naira At 499 Per Dollar 39 %Discount On Nigeria Rate

  Nigeria’s naira was quoted as low as 499 to the dollar on the black market on Tuesday, 39 percent weaker than on the official market, where the central bank has been selling the greenback to support the local currency. On the official market, the naira was quoted at 305.25 on Tuesday, the level it […]

Zenith Bank, & Others Drive Equity Volume

Zenith Bank, & Others Drive Equity Volume

  HEAVY transactions recorded last week on the shares of Zenith International Bank Plc, Champion Breweries Plc and Diamond Bank Plc  drove the volume traded on the Nigerian Stock Exchange, NSE. Trading statistics made available at the end of the week showed that the three companies accounted for 252.189 million shares out of 990.584 million […]

Access Bank’s Early Savers Account Helps Kids Develop Financial Skills

Access Bank’s Early Savers Account Helps Kids Develop Financial Skills

ACCESS Bank has said that   its Early Savers Account is designed to actively engage children and help them develop financial skills. Group Head, Inclusive Banking, Access Bank Plc, Mrs. Ope Wemi-Jones stated According to Wemi-Jones the account was specially designed to cater for the banking and financial education needs of children below 16 years of […]

Skye Bank Website The Best – Jurist Performance Categories

Skye Bank Website The Best – Jurist Performance Categories

SKYE Bank’s website  www.skyebankng.com  has been recognised as one of the most improved bank websites as announced by foremost web ranking Agency, Web Jurist, powered by Philips Consulting in its just-released rating. Skye Bank rose from its previous 18th  position in ranking to the 8th  position in 2016; beating  such traditional leaders as: Access Bank, […]

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