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NDIC Urges Depositors To Report Banks Indulging In Sharp Practices

NDIC Urges Depositors To Report Banks Indulging In Sharp Practices

The Nigerian Deposit Insurance Corporation (NDIC) has urged depositors to report any sharp practices by commercial banks. It also called on Nigerians to shun dubious financial schemes and wonder banks which have continued to defraud unsuspecting members of the public. Speaking at the NDIC Day at the ongoing 38th Kaduna International Trade Fair on Thursday, […]

GTBank Wins Six EPIS Awards

GTBank Wins Six EPIS Awards

Guaranty Trust Bank Plc (GTBank) said it reaffirmed its position as Nigeria’s leading financial institution on e-payments with its emergence as a multiple award winner during the 2017 Electronic Payment Incentive Scheme (EPIS) awards organised by the Central Bank of Nigeria (CBN) and the Nigeria Inter-bank Settlement System (NIBSS) recently. With six awards, GTBank took […]

$500m Loan Targets Out Of School Children – World Bank

$500m Loan Targets Out Of School Children – World Bank

Nigeria’s effort to address  the problem of out-of-school children has been boosted by World Bank’s plan to offer a $500 million loan. An official of the bank and a Senior Education Specialist, Dr Olatunde Adekola, made this known in Sokoto. Leading a five-man team to state Governor Aminu Tambuwal, Adekola explained that the loan would […]

Fidelity Bank: Reiterates Support For Agric Value Chain Funding

Fidelity Bank: Reiterates Support For Agric Value Chain Funding

Fidelity Bank Plc has pledged to support ongoing efforts aimed at strengthening Nigeria’s agricultural value-chain by providing innovative funding schemes and technical advisory services to Micro Small and Medium Scale Enterprises (MSMEs) and commercial agri-business projects.   The bank’s Head, Agric Division, Omobola Odubanjo disclosed this in a keynote address at a breakfast meeting organised […]

Firstbank Launches Modern Lounge For Lagos International Airport’s

Firstbank Launches Modern Lounge For Lagos International Airport’s

The First Bank of Nigeria has launched the FirstlLounge at the Murtala Mohammed airport, Lagos. Speaking at the event was the managing director, FirstBank Bank, Dr. Adesola Adeduntan who said, “our cardinal principle at first bank is to always put customers, all our clients and other stake holders first; If you look around, with what we […]

Global Oil Price: OPEC Recovering From $1 Trillion Loss

Global Oil Price: OPEC Recovering From $1 Trillion Loss

The Organization of Petroleum Countries, OPEC, is gradually recovering from its worst experience as a result of the global oil crisis, which cost members about $1 trillion loss since 2014, an official said. The Secretary General of OPEC, Mohammed Barkindo, said in Abuja during his first member country visit to Nigeria that since the crisis, […]

World Bank & EU Spend N342m To Revitalise Vocational Education

World Bank & EU Spend N342m To Revitalise Vocational Education

The World Bank in partnership with the European Union (EU) and the Delta State Government has spent N342 million on the rehabilitation and resuscitation of technical and vocational education in Delta State in the past four years. The grant, which was released to the state during the period under review, came through its sponsored project […]

CBN Sells $180 Million Forex To Boost Liquidity

CBN Sells $180 Million Forex To Boost Liquidity

The Central Bank of Nigeria (CBN) yesterday released additional $180 million to the forex market to further ease business transactions in the country.   The intervention was done in two phases – an $80 million offer for Personal Travel Allowance (PTA), school fees and medicals at the inter-bank market and $100 million Wholesale Forwards Market […]

Access, Ecobank, First Bank, SCB Sell 71 Percent Of Fx In Two Months

Access, Ecobank, First Bank, SCB Sell 71 Percent Of Fx In Two Months

Four Nigerian deposit money banks accounted for 71 percent of foreign exchanged sold in October and November 2016. The banks; Access, Ecobank, First Bank and Standard Chartered Bank (SCB) sold a cumulative $625.4 million  to Nigerians businesses and individuals, the analysis of banks’ returns on foreign exchange to the Central Bank of Nigeria (CBN) by […]

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 […]

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