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The National Bureau of Statistics (NBS) said Automated Teller Machine (ATM) from selected banks across the country recorded transactions valued at N39.15 trillion in the fourth quarter of 2018. The bureau stated this in its “Selected Banking Sector Data for Fourth Quarter, 2018”, posted on its website on Wednesday. It said that the amount was…
February 20, 2019
Financial experts on Saturday said the hasty postponement of the general elections by the Independent National Electoral Commission (INEC) would create uncertainty and affect inflow of foreign investments. They told the News Agency of Nigeria (NAN) in separate interviews in Lagos that the hasty postponement a few hours to the Presidential and National Assembly elections…
February 16, 2019
More Nigerians are abandoning their banks’ accounts majorly due to economic hardship caused by sluggish economic growth, rising job losses and reduction in purchasing power occasioned by double digit inflation. Statistics from the Nigeria Interbank Settlement System (NIBSS) showed that Nigerians abandoned 10 million bank accounts in 2018. NIBSS is owned by all Nigerian banks…
February 5, 2019
Renmoney, one of Nigeria’s leading fintech companies, has deployed customer engagement software to set up an integrated support. Renmoney provides convenient loans, savings and fixed deposit products to Nigerians. Last year, Renmoney delivered over 95,000 loans to individuals and small businesses via its website, contact centre, agent network and branches. The interactions across multiple channels…
January 28, 2019
Barring any last minute change, the Access Bank Group is on the verge of acquiring Diamond Bank Plc, reports say Monday. A senior official of Access Bank, who spoke on condition of anonymity because he was not authorised to speak to the media on the deal, told The Punch on Sunday that the banks were…
December 17, 2018
The African Export-Import Bank (Afreximbank) has inaugurated a one billion dollars Nigeria-Africa Trade and Investment Promotion Programme (NATIPP) to promote and expand trade and investments between Nigeria and the rest of Africa. Prof. Benedict Oramah, Afreximbank’s President said this in a statement on Friday in Abuja. Oramah inaugurated the programme as part of agreement made…
December 14, 2018
The Ekiti State Governor, Kayode Fayemi, has lifted the embargo placed on some banks by the immediate past administration. The Fayose-led administration had in May 2016 placed a “non-patronage” ban on three banks- Ecobank, GTbank and Zenith Bank Plc and forbade government Ministries, Departments and Agencies (MDAs) as well as workers from transacting business with…
December 10, 2018
The African Development Bank (AfDB) has completed a $500 million credit insurance to protect the bank against the non-payment of loans made to approximately 30 African financial institutions. The deal with African Trade Insurance Agency (ATI) covers a portion of the banks’ portfolio of non-sovereign operations in Africa. The deal with is expected to have…
November 1, 2018
The International Monetary Fund (IMF) has urged Nigeria to tighten its monetary policies and strengthen non-oil revenue mobilisation efforts for a stronger economy. The IMF Managing Director, Ms Christine Lagarde, gave the advice on Thursday at a news conference on some of the key issues affecting global economies. Lagarde said that domestic revenue mobilisation, which…
October 11, 2018
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The National Bureau of Statistics (NBS) said Automated Teller Machine (ATM) from selected banks across the country recorded transactions valued at N39.15 trillion in the fourth quarter of 2018. The bureau stated this in its “Selected Banking Sector Data for Fourth Quarter, 2018”, posted on its website on Wednesday. It said that the amount was…
February 20, 2019
Financial experts on Saturday said the hasty postponement of the general elections by the Independent National Electoral Commission (INEC) would create uncertainty and affect inflow of foreign investments. They told the News Agency of Nigeria (NAN) in separate interviews in Lagos that the hasty postponement a few hours to the Presidential and National Assembly elections…
February 16, 2019
More Nigerians are abandoning their banks’ accounts majorly due to economic hardship caused by sluggish economic growth, rising job losses and reduction in purchasing power occasioned by double digit inflation. Statistics from the Nigeria Interbank Settlement System (NIBSS) showed that Nigerians abandoned 10 million bank accounts in 2018. NIBSS is owned by all Nigerian banks…
February 5, 2019
Renmoney, one of Nigeria’s leading fintech companies, has deployed customer engagement software to set up an integrated support. Renmoney provides convenient loans, savings and fixed deposit products to Nigerians. Last year, Renmoney delivered over 95,000 loans to individuals and small businesses via its website, contact centre, agent network and branches. The interactions across multiple channels…
January 28, 2019
Barring any last minute change, the Access Bank Group is on the verge of acquiring Diamond Bank Plc, reports say Monday. A senior official of Access Bank, who spoke on condition of anonymity because he was not authorised to speak to the media on the deal, told The Punch on Sunday that the banks were…
December 17, 2018
The African Export-Import Bank (Afreximbank) has inaugurated a one billion dollars Nigeria-Africa Trade and Investment Promotion Programme (NATIPP) to promote and expand trade and investments between Nigeria and the rest of Africa. Prof. Benedict Oramah, Afreximbank’s President said this in a statement on Friday in Abuja. Oramah inaugurated the programme as part of agreement made…
December 14, 2018
The Ekiti State Governor, Kayode Fayemi, has lifted the embargo placed on some banks by the immediate past administration. The Fayose-led administration had in May 2016 placed a “non-patronage” ban on three banks- Ecobank, GTbank and Zenith Bank Plc and forbade government Ministries, Departments and Agencies (MDAs) as well as workers from transacting business with…
December 10, 2018
The African Development Bank (AfDB) has completed a $500 million credit insurance to protect the bank against the non-payment of loans made to approximately 30 African financial institutions. The deal with African Trade Insurance Agency (ATI) covers a portion of the banks’ portfolio of non-sovereign operations in Africa. The deal with is expected to have…
November 1, 2018
The International Monetary Fund (IMF) has urged Nigeria to tighten its monetary policies and strengthen non-oil revenue mobilisation efforts for a stronger economy. The IMF Managing Director, Ms Christine Lagarde, gave the advice on Thursday at a news conference on some of the key issues affecting global economies. Lagarde said that domestic revenue mobilisation, which…
October 11, 2018
