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FG Accuses CBN, Others Of Shielding Rogues

FG Accuses CBN, Others Of Shielding Rogues

The Central Bank of Nigeria (CBN) and other commercial Banks have been accused of working to derail the government’s anti-corruption war. The Federal Government and the Attorney-General of the Federation (AGF) are querying the double standards allegedly being exhibited by the CBN and the banks in opposing their effort to ensure strict implementation of the […]

Why Cutting 6,000 Bank Jobs May Be Good For Business

Why Cutting 6,000 Bank Jobs May Be Good For Business

About 30 percent of banking jobs could vanish in the next five years One week after Nordea Bank AB said it will cut 6,000 jobs in a digital bet, a key investor says the rest of the industry would do well to watch and learn. Sampo Oyj, Nordea’s biggest owner with about one-fifth of its […]

Development Bank Releases N5bn To 3 Microfinance Banks

Development Bank Releases N5bn To 3 Microfinance Banks

The Development Bank of Nigeria (DBN), which was recently established by the Federal Government, on Monday commenced lending activities to the economy with the release of N5bn to three microfinance banks. The amount is for on-lending by the microfinance banks to 20,000 entrepreneurs operating in Micro, Small and Medium Enterprises sector of the economy. The […]

CBN Urges Microfinance Banks To Obtain Certification

CBN Urges Microfinance Banks To Obtain Certification

The Central Bank of Nigeria (CBN) has challenged operators of microfinance banks and other financial institutions in the country to persistently pursue certification in the interest of their existence and international best practices. Head, Consumer Protection Department, CBN, Umma Dutse, gave the charge during the Smart Campaign Certification Award ceremony in Lagos, to Grooming Centre, […]

Expert Advocates Autonomous To Regulate MFBs

Expert Advocates Autonomous To Regulate MFBs

Dr Ja’afar Sa’ad, a political economist on Thursday in Zaria advocated for the establishment of an autonomous body to regulate community and micro finance banks in Nigeria for maximum output. Sa’ad, who is also the Galadiman Ruwan Zazzau , stated this in an interview with the News Agency of Nigeria (NAN) in Zaria, Kaduna State. […]

Pound Sterling Strengthens As Investors Bet On November BoE Hike

Pound Sterling Strengthens As Investors Bet On November BoE Hike

The Pound Sterling strengthened against the dollar on Wednesday, as data showing British retail sales unexpectedly surged in August bolstered expectations the Bank of England will lift rates from record lows before year-end. Sterling jumped by almost a cent against the dollar on the publication of the numbers, which showed monthly sales growth accelerated to […]

ABCON Chief Says Unstable Forex Market To End Soon

ABCON Chief Says Unstable Forex Market To End Soon

Alhaji Aminu Gwadabe, President of the Association of Bureau de Change Operators of Nigeria (ABCON), on Friday, predicted an end to the unstable foreign exchange rate, following Nigeria’s exit from recession. Gwadabe in Lagos that available economic indices and the Central Bank of Nigeria (CBN) forex policy were indications for a stable naira. “Naira will […]

Nigeria’s Mutual Fund Assets Hit N300 Billion

Nigeria’s Mutual Fund Assets Hit N300 Billion

The level of professionalism and quality of investments will be difficult to match by other mutual fund managers in Nigeria and the West African sub-region The high level of professionalism and quality of mutual funds in Nigeria has elicited increased patronage and subscription rate by individual, retail and institutional investors, a Senior Fund Manager and […]

CBN Updates Lists Of MFBs And BDCs

CBN Updates Lists Of MFBs And BDCs

Nigeria’s Central Bank (CBN) on Wednesday updated the lists of Microfinance Banks (MFBs) and Bureau De Change (BDCs). The new list show additional 19 MFBs which makes a total of 999 microfinance banks. The number of BDCs rose to 3,389 from 3,147 in January 2017

GTbank Celebrates 10 Years Of Listing On London Stock Exchange

GTbank Celebrates 10 Years Of Listing On London Stock Exchange

African Foremost financial institution, Guaranty Trust Bank plc, popularly known as GTBank, has marked its listing on the London Stock Exchange (LSE) The Bank became the first Nigerian bank to list on the LSE and the first Nigerian company to raise international capital using listed Global Depositary Receipts. To mark the 10th anniversary of this […]

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