Banking and Finance


Bureau De Change operators race to beat July 31 recapitalization deadline

The Association of Bureau De Change Operators of Nigeria on Friday said majority of its…


NSE market capitalisation drops by N90billion in Thursday trading

The market capitalisation of the Nigerian Stock Exchange, NSE depreciated by N90 billion or 0.64…

Federal Secretariat Abuja

Government agencies pocketing internally-generated funds, says Fiscal Commission

The Fiscal Responsibility Commission, FRC, on Thursday accused revenue generating Ministries, Departments and Agencies, MDAs,…

Sarah Alade

CBN’s Sara Alade appointed financial market dealers board chairman

The Deputy Governor, Economic Policy Directorate, Central Bank of Nigeria, CBN, Sarah Alade, has been nominated the new Chairman of the Board of the Financial Market Dealers Quotation, FMDQ OTC Plc. Mrs. Alade, whose nomination was disclosed at the FMDQ's second Annual General Meeting on Thursday in Lagos, would succeed…

Bank atm-001

GTBank unveils new service, to partner with supermarkets, schools, others

Guaranty Trust Bank, GTBank, has unfolded a new agent banking service, GTExpress, as part of effort to take banking services closer to existing and potential customers. GTExpress is a new service platform by the bank through agent locations such as supermarkets, schools, cinemas, markets, restaurants and petroleum products marketing outlets.…


Civic group tasks Nigeria Central Bank on policy incentives

“Very good macroeconomic indicators fundamental for economic growth and wealth creation do not put food on the table.” (more…)


Explore Nigeria’s opportunities as Africa’s biggest economy, Sambo tells Islamic Bank

The Vice President decries the high interest rates charged by local banks. (more…)


POS transactions grow to N24billion monthly, says CBN

Mobile money transaction value also grew to N819 million. (more…)


Cashless policy: Bank customers task CBN on internet fraud

CBN introduced the cashless policy to reduce the amount of physical cash circulated in the economy. (more…)

Bank PHB

N125 billion Bank PHB fraud: Court reserves ruling on Atuche, Ojo’s trial

In his submission, Kemi Pinheiro, the prosecutor, argued that the practice direction did not derogate from the provisions of the constitution. (more…)

United Bank for Africa

Lagos banks commence biometric data capture of customers

The initial start off of the exercise would affect about 1,000 selected banks out of the 1,410 branches in Lagos and its environs. (more…)


6 Nigerian banks fined for violating banking laws

Zenith Bank paid the highest fine of N276 million for various contraventions. (more…)

Godwin Emefiele, CBN governor

New CBN governor, Emefiele, assumes office, to unfold agenda Thursday

Mr. Emefiele succeeds Lamido Sanusi, who was suspended from office in April. (more…)

Sarah Alade

Acting CBN Governor reviews performance

MPC retains MPR at 12 per cent. (more…)

First Bank building

First Bank, GTBank lead Nigerian banks for African Banker magazine awards

The Managing Directors of two Nigerian banks were also shortlisted finalists for the African Banker of the Year award. (more…)

Diamond Bank Plc

Diamond Bank shareholders rebuke board over N7.99 million CBN fine

The shareholders made their position known at the bank's 23rd Annual general Meeting, AGM, in Lagos. Shareholders of Diamond Bank on Thursday expressed dissatisfaction over the N7.99 million paid by the bank as penalties to the Central Bank of Nigeria, CBN, in 2013. The shareholders made their position known at…


New CBN Deputy Governor, Adelabu, assumes office

"I do more of the work than the talk. I don't believe that we should talk too much". (more…)


Court adjourns fraud trial of ex-FCMB manager

The accused allegedly duped a bank customer of N30 million. (more…)

WEMA Bank .... on fire

Wema Bank records N1.6 billion net profit

Wema bank's profit before tax stood at N1.9 billion against the loss before tax of N4.9 billion in 2012. (more…)


CBN building fire did not destroy records- Spokesperson

Fire gutted the first floor of the CBN building in Lagos. (more…)

Central Bank Governor, Lamido Sanusi

My traducer, Financial Reporting Council, got N500million from CBN, Sanusi says

The Financial Reporting Council of Nigeria [FRCN], whose report and recommendations President Goodluck Jonathan relied upon to suspend the Governor of the Central Bank of Nigeria, Lamido Sanusi, is a beneficiary of the CBN "intervention" spendings, the suspended CBN chief has said. The FRCN had, in a 13-page report, following…

Text message phone

Shareholders fault NSE, CSCS on X-Alert

Some capital market shareholders have faulted the Nigerian Stock Exchange, NSE, over the introduction of X-Alert in place of Trade Alert without consultations with market stakeholders. They said in separate interviews that the exchange and the Central Clearing Securities System, CSCS, needed to consult with investors before migrating to X-Alert.…


Nigerian Stock Exchange cuts transaction costs for traders

Nestle topped the losers chart. The Nigerian Stock Exchange, NSE, has commenced the reduction of the cost of its Trade Alert service by about N1.24 billion from March 2014. This reduction is being achieved through the scrapping of the current charge of 0.06 per cent of every trade on the…


Guinness tops losers chart as Nigerian Stock Exchange introduces new trade notification system

Access Bank was the most traded stock. The Nigerian Stock Exchange (NSE) has announced that it will discontinue the old trade notification system, Trade Alert, and introduce a fresh notification system known as X-Alert to all its investors in March 2014. Oscar Onyema, Chief Executive Officer, Nigerian Stock Exchange, said…


Nigeria’s economic indices slip to negative following Sanusi’s suspension

Analysts say Mr. Sanusi's suspension may scare off investors (more…)