Zenith Bank records N346bn gross earnings in six months

Zenith Bank Plc has declared gross earnings of N346 billion for the half year ended June 30, 2020.This is contained in the bank’s audited results presented to the Nigerian Stock Exchange.The gross earnings represent an increase of four per cent when compared with N332 billion posted in the comparative period of 2019.The bank also proposed[...]

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FG orders banks to open from Monday

Federal Government, Wednesday said banks in Lagos, Ogun and Abuja will begin operations from Monday 4th of May, 2020.Disclosing this, the National Coordinator of the Presidential Task Force on COVID-19, Dr Sani Aliyu, gave conditions and preventive measures to stem the spread of covid-19.He said banks would be allowed to open between 8am and 2pm[...]

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Access Bank shuts VI branch after customer tested positive for coronavirus

Access Bank Plc says it has temporarily closed its Ligali Ayorinde branch for thorough disinfection. This comes after a customer who visited the branch on Monday, March 16, tested positive for coronavirus. According to a statement released on Monday by the bank, the individual was symptom-free at the time of the visit. “We have just[...]

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Ecobank achieves Major Feat in Banking Industry, Here are the Details

The 2019 Nigeria banking industry customer experience survey report recently published by KPMG Nigeria showed that Ecobank Nigeria recorded significant improvement in the SME segment of the survey. According to the report, analysis of performance in the SME segment reveals dynamism in the 2019 ranking. Despite lower levels of overall satisfaction for SMEs, Fidelity Bank[...]

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CBN introduces BVN to Rural Dwellers in Shocking Move

The Central Bank of Nigeria together with the Bankers Committee has introduced a classification system for the bank verification number (BVN). Godwin Emefiele, the CBN governor, announced this on Saturday at a press briefing to mark the end of the 11th annual Bankers Committee retreat in Ogere, Ogun state. The classification announced were: BVN Premium[...]

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Bankers Association support Border Closure, Here’s Why

The Chartered Institute of Bankers of Nigeria (CIBN) says it is in support of the federal government’s decision to close the land borders to the neighbouring countries. Uche Olowu, the CIBN president, was addressing journalists at the Aso Villa on Friday after a visit to President Muhammadu Buhari. Olowu commended the Buhari administration’s efforts in[...]

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Access Bank rewards customers this Season

ACCESS Bank Plc has unveiled series of rewards for its customers to celebrate the yuletide season. The campaign tagged‘More Xtravaganza’, will run from November 21 to December 31, 2019. Speaking at the launch of the campaign in Lagos, Victor Etuokwu, Executive Director, Retail banking, Access Bank Plc said, “Access Bank is passionate about its customers[...]

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Breaking: OneCoin Cryptocurrency website taken down for investigation by FBI as Dr. Ruja and all promoters disappears with over $10b worth of investments in biggest global fraud

OneCoin cryptocurrency website has been taken down. OneCoin.eu web page no longer exist. The FBI has ordered the operation to investigate the global fraud involving over $10b that has shaken regulators across the world. Ruja Ignatova called herself the Cryptoqueen. She told people she had invented a cryptocurrency to rival Bitcoin, and persuaded them to[...]

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Peace Airline Boss Fraud Update: In 2014, ex-militants accused Onyema, Kuku of using Amnesty funds to set up Air Peace

On Friday, the United States department of justice announced that Allen Onyema, chief executive officer of Air Peace, one of the leading airlines in Nigeria, had been indicted for money laundering. The US authorities, which have reportedly issued warrant for Onyema’s arrest, said he used several fraudulent letters of credit to American banks and initiated wire[...]

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IMF: Almost 50percent of African countries are in debt crises

Kristalina Georgieva, the managing director of the International Monetary Fund (IMF), says 40% of African countries are in debt distress. Commenting on the debt levels of countries, the newly appointed IMF MD said: “Are we worried about debt levels in Africa, yes because 40% of the countries have gone into debt distress levels. “In some[...]

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Cashless movement in Jeopardy as Stamp Duty charge forces Nigerians to use Cash

More Nigerians are now shunning transactions via Point of Sales (PoS) terminals; owing to the implementation of a ₦50 additional charge by merchants, as imposed by the Central Bank of Nigeria (CBN), in collaboration with the Nigeria Inter- Bank Settlement System (NIBSS). The CBN described the new service levy as Stamp Duty Charge. The Guardian[...]

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UBA announces it makes over N61 Billion Net Profit this fiscal yeah

United Bank for Africa (UBA) has announced a 32.3% in after-tax net profit from the N61.69 billion recorded in the third quarter of 2018 to N81.63 billion. In a statement released on Tuesday to announce the release of its Q3 results, the bank said its profit before tax grew by 24.2% to N98.2billion putting its[...]

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CBN: Survey shows rise in Customer Confidence

Consumers’ overall confidence outlook rose in the third quarter of 2019, as more consumers were optimistic in their outlook. The Central Bank of Nigeria (CBN), stated this in its “Consumer Expectations Survey Report for Third Quarter 2019,” a copy of which was posted on its website. According to the report, the index at 3.8 points[...]

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Up to Seven Banks fail CBN Stability Test

The financial stability report signed by CBN Director, Financial Policy and Regulation Department, Kelvin Amugo, showed that in the less than 30-day period analysis, seven banks were not adequately funded, while in the 31 to 90-day period, nine banks had funding gaps. The report, however, said the cumulative position for the industry showed an excess[...]

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First Banks Marks Customer Service Week in Style

First Bank of Nigeria Limited has joined the rest of the world to celebrate the 2019 Customer Service Week with the theme: “The Magic of Service.’ The weeklong event is to be celebrated from 7 – 11 October 2019 across the bank’s over 700 branch networks in Nigeria and its FBNBank subsidiaries in over half[...]

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Sterling Bank joins the Bandwagon to Celebrate World Clean-up Day

Sterling Bank Plc recently joined other corporate organisations to mark the World Clean-up Day (WCD) and the International Coastal Clean-up day at over 20 locations nationwide. States where the exercise held, according to a statement from the lender, included Kaduna, Kano, Imo, Niger, Benue, Oyo, Enugu Ogun, Rivers, Kogi, Bayelsa, Osun and the Federal Capital[...]

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Access Bank unveils independence cash give away through Diamond Xtra Accounts

Access Bank Plc has unveiled a cash incentive campaign tagged: “DiamondXtra Independence Splash” in commemoration of the country’s 59 years independence. Mr Victor Etuokwu, the bank’s Executive Director, Retail Banking, said in Lagos on Thursday that the daily rewards promo was introduced to help Nigerians to gain financial freedom. Etuokwu said the campaign would also[...]

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