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Stanbic IBTC Report For 2015

Stanbic IBTC Report For 2015

The nation’s private sector ended 2015 on a positive note with business conditions improving to the highest level since July. According to statistics from Stanbic IBTC Bank Purchasing Managers Index (PMI) for December 2015, a key factor behind growth of the sector as a whole was higher new orders – the latest rise was the […]

Banking Records, N853.8billion Loss In 2015

Banking Records, N853.8billion Loss In 2015

Banking stocks were hit badly in 2015 as 13 banking and three bank affiliate stocks record huge decline of N853.820 billion in their share prices. The woe in banking and bank affiliate stocks reduced their stock prices drastically during the review period of 2015. The loss recorded in 13 bank stocks during the year under […]

FirstBank Unveils FBN In Senegal

FirstBank Unveils FBN In Senegal

FBN Holdings is expanding its foothold in Africa with the unveiling of FBN Bank Senegal, formerly registered as International Commercial Bank (ICB). According to the bank, this follows the agreement reached by FirstBank and International Commercial Bank Financial Group Holdings for the acquisition of a 100% equity interest in ICB Senegal. FirstBank noted that the […]

Banks To Start Recieving Foreign Currencies

Banks To Start Recieving Foreign Currencies

The Central Bank of Nigeria’s (CBN) directive, issued on the 11th of January, 2016, authorizing Commercial Banks in Nigeria to resume acceptance of foreign currency cash deposits.

Access Bank Releases Its Half-year Earnings Report

Access Bank Releases Its Half-year Earnings Report

Access Bank Plc on Thursday, January 7, released its half-year earnings report on the Nigerian Stock Exchange, showing impressive growths across key fundamentals. On the strength of the six-month earnings, which saw 43 per cent growth in gross earnings and 39 per cent in profit after tax, the board of the bank has recommended distribution of […]

CBN Grants Wema Bank National Banking License

CBN Grants Wema Bank National Banking License

Wema Bank Plc, one of Nigeria’s premier financial institutions has been granted a National Banking License; an upgrade from its current regional banking authorization after complying with the Central Bank of Nigeria’s requirements. In 2010, Wema Bank downscaled to operate only within its core areas of business – South-South, South-West and FCT Abuja. Now, the […]

Access Bank Holds Int’l Leadership Confab

Access Bank Holds Int’l Leadership Confab

Access Bank Leadership Conference for this year will focus on enhancing Nigeria’s technology capabilities and adding value to the economy. Speaking at a press briefing announcing the conference which hold December 10,  the bank’s Executive Director, Personal Banking Division, Victor Etuokwu, listed Chris Hughes (Facebook Co-Founder), Steve Wozniak (Apple Co-Founder), Tony Fernandes (Air AsiaFounder and […]

ANAN Advises Against Further Naira Devaluation

Mr. Anthony Nzom, the President of the Association of National Accountants of Nigeria (ANAN), has advised the federal government not to further devalue the naira. Nzom said this after what was termed “ANAN Walk Against Corruption for a Healthier Economy and Longevity,’’by more than 2,000 members of the association. “We have to be careful about […]

FBN Pays N2bn TSA’s Fine

FBN Pays N2bn TSA’s Fine

The First Bank of Nigeria Limited says it has paid the N1.877 billion fine imposed on it by the Central Bank of Nigeria (CBN) for its failure to totally comply with regulations regarding the Treasury Single Account (TSA). The apex bank indicted Nigeria’s premier commercial bank for concealing N37,548,198,102.41 belonging to the Nigerian National Petroleum […]

Nigeria Ranked 169 In World Bank’s Latest Report

Nigeria Ranked 169 In World Bank’s Latest Report

Nigeria  is ranked 169 out of 189 countries in the World Bank latest report on the ease of doing business globally. The ranking released yesterday by the bank shows significant improvement by countries through reforms that improve businesses in their countries. Nigeria moved one step up from 170 last year to169 this year. The report […]

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