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nigerian banks

  1. Nigeria Business News

    Business Why Diamond Bank settled for a business combination deal with Access Bank – Ventures Africa

    Recent details have emerged on why the defunct Diamond Bank surrendered itself for a business combination deal with Access Bank Plc. In December 2018, Access Bank and Diamond Bank signed an agreement to merge, with Access Bank being the principal bank. According to a report obtained by THISDAY...
  2. curator

    Banks refund N654.49m excess charges to federation account – Vanguard News

    Nigeria Bureau of Statistics (NBS) said that banks have refunded N654.49 million excess charges deducted from government bank accounts related to the federation account. The Bureau disclosed this in its Federation Account Allocation Committee (FAAC) disbursement report for March 2018. Read...
  3. curator

    Business CBN sets fresh target for Nigerian banks

    The Central Bank of Nigeria, CBN, has set state-by-state target for the 21 commercial banks and 942 Micro finance banks in the country to ensure that every Nigerian adult has access to financial services. Elizabeth Agu, the CBN Branch Controller, Federal Capital Territory, made this known on …...
  4. RemmyAlex

    Business Moody's Report: 8 Nigerian Banks Downgraded

    Moody’s Investors Service (Moody’s) has downgraded to B2 from B1 the long-term local currency deposit and issuer ratings of four Nigerian banks. The banks are: Access Bank Plc (Access) Guaranty Trust Bank Plc (GTBank), United Bank for Africa Plc (UBA) and Zenith Bank Plc (Zenith) and the...
  5. RemmyAlex

    Business FG To Ban Use Of SMS In Banking Transactions

    Federal government may soon outlaw sending of vital bank details via short message services (SMS) in Nigeria because of its associated risks. The Nigerian Communications Commission (NCC) has said it was already engaging with the Central Bank of Nigeria (CBN) to find better ways of doing it...
  6. RemmyAlex

    Business 4 Nigerian Banks In Trouble, Fall Below Financial Regulation Standard

    Four Nigerian banks are operating with too many non-performing loans on their books and with liquidity ratios below the minimum requirement, two members of the central bank monetary policy committee said in statements on the bank’s website. They did not name the lenders but said the four banks...
  7. RemmyAlex

    Business CBN Moves to Sanction Banks Over Forex Sales

    The Central Bank of Nigeria on Monday threatened to sanction any Deposit Money Bank in breach of its earlier instructions to open teller points for retail foreign exchange transactions in all locations. The apex bank’s acting Director, Corporate Communications, Mr Isaac Okorafor, in a statement...
  8. K

    Metro Access Bank Reacts to Pornographic Movie Displayed on its ATM Gallery in UNILAG [PHOTOS]

    Access Bank PLC, has reacted to the pornographic movie that appeared on screen of its University of Lagos, UNILAG’s branch gallery on Friday. Customers queuing to use the bank’s ATM were shocked yesterday morning when some adult contents started displaying on the screen instead of the normal...
  9. RemmyAlex

    Business Nigerian Bankers New Target For Magu Over Bad Loans At AMCON

    Nigerian bankers and its officials who facilitated the huge non-performing loans in Asset Management Corporation of Nigeria, AMCON's portfolio, are the new target of the Economic and Financial Crimes Commission, EFCC-led by Ibrahim Magu. AMCON in a statement after a meeting with the management...
  10. siteadmin

    Business Jason Njoku, Founder Of iROKO, Shames Zenith Bank and Others Over Lack Of Support

    In an article that has Nigerian business owners nodding at every word, Jason Njoku, the founder of iRoko, has slammed Nigerian banks as useless. He chronicles his personal and business relationship with Zenith bank and details the complete lack of value they offered him and the business in...
  11. RemmyAlex

    Business CBN Orders 13 Banks To Suspend Actions On Etisalat Nigeria

    The Central Bank of Nigeria (CBN) on Wednesday ordered the consortium of 13 banks involved in Etisalat Nigeria’s $1.2 billion loan to suspend further action on the indebtedness, including taking over ownership or management of the company. This development is coming as Etisalat Nigeria claimed...
  12. RemmyAlex

    Business 10 Nigerian Banks That Took Over Etisalat [See LIST]

    One of Nigeria’s telecommunication companies, Etisalat has now been taken over by ten major Nigerian lenders. The lenders include: 1. Zenith Bank 2. GT Bank 3. First Bank 4. UBA, 5. Fidelity Bank 6. Access Bank, 7. Ecobank, 8. FCMB 9. Stanbic IBTC Bank and 10. Union Bank. The...
  13. RemmyAlex

    Business End Is Near For Etisalat As Largest Shareholder Pulls Out [Premium Times]

    Etisalat Nigeria Limited board of directors may be dissolved any moment as its largest shareholder, Mubadala Development Company of United Arab Emirates, has pulled out its investment and headed out of the country. Sources familiar with the latest troubles in Etisalat Nigerian confided in...
  14. Samguine

    How To Get A POS Machine For Your Business In Nigeria

    A POS (Point Of Sale) terminal is a portable device that allows businesses accept bank card payments for transactions. Most POS terminals are issued by banks. How To Get A POS For Your Business 1. Have An Account - Before any bank deploys a POS terminal to your business outlet, you will...
  15. RemmyAlex

    Business Fidelity Bank Posts 3.5% Gross Growth, Proposes 14k Dividend

    Fidelity Bank Plc has posted a gross earnings of N152.0bn for the financial year ended December 31, 2016 and is proposing to pay a dividend of 14kobo per share to shareholders. The full year audited results released over the weekend at the Nigerian Stock Exchange (NSE), show a 3.5% growth in...
  16. RemmyAlex

    Business 3 Biggest Gainers From CBN’s New Forex Policy

    Central Bank of Nigeria on Monday shocked Nigerians and businesses over sudden change in foreign exchange rules. The naira on Monday slumped to 520 per dollar at the parallel market as pressure keeps mounting on dollar scarcity. Nigerian Bulletin take a look by identifying the three possible...
  17. RemmyAlex

    Business Nigeria: We Are Not Recruiting – UBA

    United Bank For Africa, UBA Plc has debunked rumor circulating of the Banks' call for graduate trainee programme in 2017. The fake message has said that UBA is recruiting for fresh graduate in Nigeria for its 2017 graduate programme. The management in a release on Sunday said: “Dear All It ha...
  18. RemmyAlex

    Business South African Investor Buys More Zenith, Access Banks' Shares

    Allan Gray Ltd., the largest manager of non-government investment funds in Africa, has increased its stake in Nigerian Zenith and Access banks. The South African investor, based in Cape Town, is betting on Nigeria’s banking industry despite poor performances by the oil companies it depends on...
  19. RemmyAlex

    Business First Bank Leads, 5 Nigerian Banks Make Top 500 Global Brands

    Despite the harsh business environment, First Bank of Nigeria Limited and four other Nigerian banks have made the top 500 banking brands of The Banker magazine of the Financial Times and Brand Finance, London. The Country Representative – Nigeria of The Banker magazine, Mr. Kunle Ogedengbe, in...
  20. RemmyAlex

    Politics Court Orders 3 Banks To Hand Over $153.3m Diezani's Fund To FG

    Justice Muslim Hassan of the Federal High Court in Lagos has ordered the temporary forfeiture of the sum of $153,310,000 allegedly siphoned by the former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueze from the Nigerian National Petroleum Corporation and stashed in three banks in...
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