Home » Archives by category » Cards / Payment (Page 3)

CBN Obliterate Preferential Treatment For Manufacturing Sectors

CBN Obliterate Preferential Treatment For Manufacturing Sectors

Following its resolve to meet all unfilled foreign exchange (FX) demand in the country, the Central Bank of Nigeria (CBN) monday announced that it will no longer impose allocation/utilisation rules for the manufacturing and other select sectors on commercial banks. The CBN stated this in a statement on new policy actions in the FX market […]

Akwa Saving And Loans Bank To Sack 90 Staff

Akwa Saving And Loans Bank To Sack 90 Staff

No fewer than 90 staff members of the Akwa Ibom State Government owned financial outfit, the Akwa Savings and Loans Limited have been pencilled down for sack in a renewed move to restructure and reposition the bank for global competitiveness. The Managing Director/Chief Executive Officer of the bank, Mr. Ebong Bassey, who disclosed this while […]

Coronation Merchant Bank Posts N5.3bn Profit

Coronation Merchant Bank Posts N5.3bn Profit

Coronation Merchant Bank Limited said it sustained its tradition of impressive performance with strong financial results for the year ended 2016. The Group’s 2016 results showed that its profit before tax (PBT) rose to N5.3 billion, representing an increase of 128 per cent over last 2015 performance of N2.3 billion. The bank’s net interest income […]

Wema Bank Takes Savings Products To LASU

Wema Bank Takes Savings Products To LASU

Wema Bank Plc is promoting savings culture and digital banking experiences among the newly admitted students of Lagos State University (LASU). Speaking during the LASU 2017 orientation programme, held at its Ojo campus, Wema Bank Regional Manager, Apapa, Femi Olowoyeye, said the lender had been participating in institution’s orientation programme for the past two years, […]

CBN Moves To Ease Forex Scarcity

CBN Moves To Ease Forex Scarcity

The Central Bank of Nigeria (CBN) yesterday ordered all banks to open foreign exchange (forex) kiosks at major airports and approved outlets.The order was issued barely 24 hours after The Guardian exclusively reported that passengers were stranded at the international airports on account of dollar scarcity. [ATTACH=CONFIG]6778[/ATTACH] The move is to ease acute forex scarcity […]

FCMB Gets New Md, As Ladi Balogun Becomes Group CEO

FCMB Gets New Md, As Ladi Balogun Becomes Group CEO

The board of FCMB Group Plc, on Monday announced the appointment of Adam Nuru, formerly Executive Director, Business Development of its flagship First City Monument Bank Limited, as new chief executive. He replaces Ladi Balogun who steps down after a decade in the saddle in line with the directive of the Central Bank of Nigeria […]

Nigeria Central Bank To Sell Fx Weekly To Retail Users At 375 Naira

Nigeria Central Bank To Sell Fx Weekly To Retail Users At 375 Naira

Nigeria’s central bank plans to sell $1 million weekly to each of the country’s 21 commercial lenders at a rate of 375 naira to clear a backlog of demand and try to narrow the premium between the official and black market rates, traders said on Monday. Traders said commercial lenders have compiled a list of […]

Nigeria Naira Hits New Black Market

Nigeria Naira Hits New Black Market

Nigeria naira hit a fresh low of 520 on the black market on Monday, as retail currency traders tried to digest a new central bank decision to sell dollars to retail users through commercial lenders, one retail trader said.   The central bank plans to sell $1 million weekly to each of the country’s 21 […]

Growing The Economy Through Forex Allocation

Growing The Economy Through Forex Allocation

While Nigeria faces shortage of foreign exchange, it is essential that critical sectors of the economy that would spur growth and development have access to dollars in order to speed up the recovery of the the nation’s economy. Last year, Nigeria was officially said to be in recession although the symptoms had been there for […]

Stock Market Continues To Bleed As 25 Equities Record Price Losses

Stock Market Continues To Bleed As 25 Equities Record Price Losses

    Among the stocks that depreciated in price last week were Vitafoam Nigeria Plc which led other decliners by 13.04 per cent from N2.30 to N2.00 per share. This was trailed closely behind by Fidson Healthcare Plc with negative return of 11.40 per cent to close at N1.01, followed by Nigerian Breweries Plc with […]

Contact Us