Banking and Finance

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…)

nigeria stock exchange

Zenith Bank tops most traded shares as Bank Chief is nominated Central Bank Governor

The Managing Director of Zenith Bank, Godwin Emefiele, is to be the next Governor of the Central Bank of Nigeria. Zenith Bank, Thursday, was the most traded shares on the Nigerian Stock Exchange after the bank's boss was nominated as the next Central Bank Governor. Nigeria's President, Goodluck Jonathan, Thursday,…


Ex-workers accuse FIRS of unjust termination of appointment

The workers accused the agency of violation of agreement. Some former employees of the Federal Inland Revenue Service, FIRS, have accused the agency of unfairly terminating their appointments last year. In a press conference on Monday in Lagos, the workers said that a "massive" number of them were issued letters…

Francis Atuche

Alleged N4.2 billion Bank PHB fraud: Court adjourns Atuche’s trial indefinitely

Judge awaiting outcome of appeal filed by EFCC (more…)

unionbank logo

Court orders Union Bank to release N320 million depositors’ fund

The money was deposited in the Union Bank account of a fraudulent company. A Jos High Court on Friday ordered Union Bank Plc to release N320 million funds accruing to investors in a failed investment house in Jos immediately. A High Court Judge, Dakwak Yau, gave the order in a…

Finance Minister, Ngozi Okonjo-Iweala

Nigeria lost N797.8bilion to waivers, tax exemptions in 3 years, says Okonjo-Iweala

Minister Okonjo-Iweala says tax waivers and concessions have had negative impacts on the country's revenue base. The Federal Government lost about N170.74billion to waivers and tax concessions granted to various government and private businesses in different sectors of the economy between 2011 and 2013, the Minister of Finance, Ngozi Okonjo-Iweala,…

nigeria stock exchange

NSE chief says 2014 market projections largely positive

Oscar Onyema says that he is optimistic that Nigeria will get to the emerging markets index. Despite concerns about Nigeria's political, currency and interest rate risks, the Chief Executive Officer of the Nigerian Stock Exchange, NSE, Oscar Onyema, has said the projections for the Nigerian capital market are largely positive…