Tag Archives: bank

In a bid to promote sound health among women, Access Bank Plc, under its ‘W’ Initiative has concluded plans to host its annual women’s health month programme in October 2023. The bank said it recognizes the importance of women’s health and seeks to make a positive impact on the lives of women in its community. Through the month-long campaign, the ...

The Federal Government says it would prioritise the N500 billion recapitalisation of the Federal Mortgage Bank of Nigeria (FMBN) to give it leverage as this would also enhance its ability to provide more affordable mortgage loans to Nigerians. The Minister of Housing and Urban Development, Ahmed Dangiwa, an architect, made this known upon his assumption of office, yesterday. He said ...

The Central Bank of Nigeria has authorised commercial banks to freely trade foreign exchange at any rate. The authorisation means that banks now have the power to sell forex at a market-determined rate. It was gathered that some banks have pegged the USD to Naira rate at N699 to N750, suggesting that Nigeria is now operating a freely floating exchange ...

The Central Bank of Nigeria (CBN) has clarified that the Bank Verification Number (BVN) issued by the bank in collaboration with the Nigeria Inter Bank Settlement System (NIBSS) has no expiry date. The central bank’s explanation came against the backdrop of misleading reports suggesting that the BVN would expire after a 10- year period. However, in a statement, CBN acting ...

Guaranty Trust Holding Company (GTCO) Plc, the holding company for Guaranty Trust Bank and other subsidiaries, recorded marginal decline in profitability in 2022 as pre-tax profit dropped to N214.2 billion. Key extracts of the audited report and accounts of GTCO for the year ended December 31, 2022 released at the weekend showed that group profit before tax dipped by 3.3 ...

Group Managing Director/Chief Executive Officer (GMD/CEO) of Zenith Bank Plc, Ebenezer Onyeagwu, was at the weekend, conferred with a Doctorate Degree in Business Administration by the University of Nigeria, Nsukka (UNN). The award, which is in recognition of his immense achievements as GMD/CEO of the bank as well as his contributions to the growth of the financial services sector in ...

Jaiz Bank Plc said it is targeting to achieve N9.780 billion in gross earnings for the first quarter of 2023. The non-interest bank made the projection in its Q1 2023 earning forecast obtained from the Nigerian Exchange Limited (NGX). The lender also projected a pretax profit of N1.403 billion and a profit after tax of N1.263 billion for the stipulated ...

Financial Institution Training Centre (FITC) is worried by the rising involvement of bank workers in fraud cases in Nigeria. It said that such bank staff are taking undue advantage of their access to defraud bank customers. The report, which gave insights into fraudulent activities in Nigerian banks between April and June 2022, showed that 19 employees of banks were sacked ...

Data from the Nigeria Inter-Bank Settlement System (NIBSS) shows that bank customers in Nigeria transferred a total of N2.1 trillion over mobile in November 2022. The November figure brought the total mobile inter-scheme transactions on the NIBSS platform to N16.9 trillion in the last 11 months. The value of transactions in November is also the highest monthly record on the ...

Nigeria Deposit Insurance Corporation (NDIC), stated that bank failures are caused by officers entrusted to look after the institutions. Mr Bello Hassan, the Managing Director, disclosed this at an event themed, “Effective Investigation and Prosecution of Banking Malpractices that led to Failure of Banks.” He noted that the investigation and prosecution of failed banks’ offences was provided for under various ...