Home » Archives by category » Bank / Banking Security (Page 4)

Nigerian Banks May Lose N36.6bn to Afren Liquidation

Nigerian Banks May Lose N36.6bn to Afren Liquidation

Nigerian banks are in danger of losing a whopping N36.630 billion ($185 million) if Afren Plc (in administration) is liquidated. Afren Plc’s woes reached a tipping point recently when the company provided an update on the outcome of the discussions with its lenders, shareholders, senior creditors and bond holders. In a statement released to newsmen, […]

Axis Bank Implements Payment Technology System

Axis Bank Implements Payment Technology System

Axis Bank, India’s third largest private sector bank, will begin to facilitate contactless card payment system to its premium debit, credit and multi currency forex card customers. The private lender plans to cater to about 1.70 lakh premium segment customers, accounting for about 1 per cent of its total customers of 1.7 crore. “The industry […]

Buhari Order Ministries To Pay Govt Revenues Into Banking Sector

Buhari Order Ministries To Pay Govt Revenues Into Banking Sector

President Muhammed Buhari’s order to all federal ministries, departments and agencies (MDAs) to pay all government revenues, incomes and other receipts into a Treasury Single Account (TSA) with the Central Bank of Nigeria (CBN) will significantly affect the volume of liquidity in the banking sector. This may also constrain banks’ full year results for 2015. […]

Ecobank Enters A New Phase

Ecobank Enters A New Phase

Ecobank’s reputation took a battering last year as it became mired in a well-publicised corporate governance crisis. Its new chief executive, Albert Essien, has restored some calm, and he tells Paul Wallace how he hopes to make the kind of returns that will entice more international investors to buy its stock. The Banker’s articles are […]

Banks Reduce Withdrawal Limits On ATMs

Banks Reduce Withdrawal Limits On ATMs

The battle for defence of the Naira value has widened, affecting existing withdrawal limits on Automatic Teller Machines (ATMs) and foreign transactions on all existing Naira debit cards (ATM cards). In the new arrangement, all ATMs that were hitherto enabled for domestic and foreign transactions have been restructured to limit Naira cash withdrawal at ATMs […]

Access Bank, Others Decry Economic Expense Of Malaria

Access Bank, Others Decry Economic Expense Of Malaria

Group Managing Director, Access Bank Plc, Mr. Herbert Wigwe, has called on every institution in Africa to ensure that the battle for better health care becomes common experience on the continent. He made the call at the 2015 Corporate Alliance on Malaria in Africa Technical Forum jointly hosted by Access Bank and GBC  Health in […]

FCMB Outlines N26 Billion Bond On FMDQ Securities Exchange

FCMB Outlines N26 Billion Bond On FMDQ Securities Exchange

First City Monument Bank, FCMB Financing SPV plc, has listed N26,000,000,000 Series 1, 7-Year 14.25 per cent fixed rate unsecured bond under a N100,000,000,000.00 debt issuance programme on the FMDQ OTC Plc. This feat recorded by the FMDQ OTC is coming after the listings of the N30.5 billion UBA Bond, N15.54 billion Stanbic IBTC Bond, N4.8 trillion FGN Bonds […]

Commercial Banks Warned By CBN Against Violating Transfer Directive

Commercial Banks Warned By CBN Against Violating Transfer Directive

The Central Bank of Nigeria, CBN, has warned banks against contravening its directive to transfer the N3.5 trillion public sector funds with them to it. The apex bank said the erring banks would face “severe financial and administrative sanctions”. Sources revealed that while the deposits draw nearly zero interest, ministries, departments and agencies (MDAs) are borrowing at double […]

Nigeria Woman Named World Bank Vice President

Nigeria Woman Named World Bank Vice President

World Bank President Jim Yong Kim announced the appointment of Arunma Oteh as vice president and treasurer of the World Bank. “Arunma has deep knowledge of capital markets and tremendous experience as the former Treasurer of one of our partner development banks,” said Kim. “We are very fortunate to be able to recruit an individual […]

Three Banks Suspended By Nigerian Customs

The Nigeria Customs Service (NCS) has suspended three commercial banks from collecting customs duties over their non-compliance with the partnership agreement with the agency on the matter. The Public Relations Officer of Nigeria Customs Service, Mr Wale Adeniyi, made the fact known in an interview with NAN in Abuja on Monday. He said the suspension […]

Page 4 of 512345
Contact Us