Tag Archives: bank

Three ex-staff of First Bank collaborate with hackers to steal N20bn

The trial of three former workers with the First Bank of Nigeria facing attempted fraud charges before a Lagos State Special Offences Court, Ikeja, continued on Wednesday. The defendants, Ozioma Ugorji, 35; Ugwu Emeka, 32; and Obike Chukwuka, 38, were arraigned by the Economic and Financial Crime Commission for allegedly attempting to steal N20bn from the bank. It was learnt ...

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Why there is scarcity of Dollars in Nigeria, others- IMF

The International Monetary Fund (IMF) has explained why dollar scarcity persists in emerging economies, especially sub-Saharan Africa. In an emailed report, Tobias Adrian, the Financial Counsellor and Director of the IMF’s Monetary and Capital Markets Department, said the wide spreads between bid and ask prices for the dollar were responsible for limited liquidity in the markets in the region. The ...

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Wema Bank ends third SME Business School

Wema Bank Plc has just ended its third SME Business School in Abuja. In partnership with Abuja Enterprise Agency, The SME Business School began on March 14, this year. The platform was aimed at equipping owners with skills that will enable them to run their businesses more profitably. According to a statement by the bank, 150 participants graduated from the ...

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Finance Bill 2021: Commercial banks to now demand Tax Identification Numbers to open account

The Finance Bill 2021 has made it mandatory for commercial banks to demand the Tax Identification Numbers from anyone who wishes to open an account with them. It also empowers banks to demand TIN from existing customers if they wish to continue to operate their accounts. The Leader of the Senate, Yahaya Abdullahi, stated this on Wednesday in his lead ...

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Self-banking: Access Bank launches AccessX

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As part of its plans to provide highly rated  digital service to itcustomers through self-service banking, Access Bank Plc has launched AccessX that it termed an experience centre. Giving explanation, bank said that the customers would have experience of a digital tour spanning from Artificial intelligence to Robotics, and Smart data. It added that the centre is designed to demonstrate ...

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Stanbic IBTC pays over N800bn to over 62,000 retirees

The Stanbic IBTC Pension Managers Limited has dolled out over N800 billion to more than 62,000 retirees since inception. The intimation was made recently during the 2021 virtual Employers Forum organised by the company in Lagos. Speaking during the opening remarks, Chief Executive, Stanbic IBTC Pension Managers Limited, Olumide Oyetan, described the pension transfer window as a positive development for ...

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Behold, Highest Paid Bank CEOs in Nigeria

Kennedy Uzoka (UBA) – N143 million Kennedy Uzoka is the CEO of United Bank for Africa Plc (UBA). Prior to his appointment as CEO, he was the Deputy Managing Director which tasked him with the responsibility of growing and deepening the Group’s operations in its 18 operating countries. He is an alumnus of Harvard Business School (AMP) in Boston USA, ...

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Zenith Bank releases N84.8bn for shareholders

Highly rated Zenith Bank Plc, through its Board if Directors has announced the payment of a final dividend of N2.70 for every share of 50k held by shareholders,. By calculation, this amounts to a total of N84.8 billion for the year ended 2020. The statement which was released and signed by the company’s secretary, Michael Osilama Etu has been sent ...

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Interswitch Group launches new platform to facilitate transactions for businesses

Interswitch Group recently launch of Quickteller Business to facilitate payments and manage transactions from anywhere in the world – through one, eaay integrated platform. The advent of Quickteller Business will broaden its payment management capabilities to businesses and merchants of all sizes It will also help businesses to experience a wide range of integrated payment offerings, ranging from disbursements to ...

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