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Business 3 Biggest Gainers From CBN’s New Forex Policy
Central Bank of Nigeria on Monday shocked Nigerians and businesses over sudden change in foreign exchange rules. The naira on Monday slumped to 520 per dollar at the parallel market as pressure keeps mounting on dollar scarcity. Nigerian Bulletin take a look by identifying the three possible...- ProfRem
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- cbn cbn new forex policy gainers from cbn new forex rules naira rate naira watch nigeria news nigerian banks
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Business Nigeria: We Are Not Recruiting – UBA
United Bank For Africa, UBA Plc has debunked rumor circulating of the Banks' call for graduate trainee programme in 2017. The fake message has said that UBA is recruiting for fresh graduate in Nigeria for its 2017 graduate programme. The management in a release on Sunday said: “Dear All It ha...- ProfRem
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Business South African Investor Buys More Zenith, Access Banks' Shares
Allan Gray Ltd., the largest manager of non-government investment funds in Africa, has increased its stake in Nigerian Zenith and Access banks. The South African investor, based in Cape Town, is betting on Nigeria’s banking industry despite poor performances by the oil companies it depends on...- ProfRem
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Business First Bank Leads, 5 Nigerian Banks Make Top 500 Global Brands
Despite the harsh business environment, First Bank of Nigeria Limited and four other Nigerian banks have made the top 500 banking brands of The Banker magazine of the Financial Times and Brand Finance, London. The Country Representative – Nigeria of The Banker magazine, Mr. Kunle Ogedengbe, in...- ProfRem
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Business Ernest Ebi Appointed As New Fidelity Bank Chairman
Fidelity Bank Plc has announced the appointment of Ernest Ebi as the Non-Executive Director and Chairman, designate of the board of Fidelity Bank Plc. This is following the retirement of Fidelity Bank Plc Chairman, Chief (Dr.) Christopher Ezeh, who, after over 11 years of meritorious service...- ProfRem
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Business 5 Banks That Recorded Losses in 2016 Financial Reports [See LIST]
Not fewer than 5 Nigerian banks have returned decline in their third quarter results as recession hits harders. Ten out of 15 quoted banks on the Nigerian Stock Exchange have submitted their unaudited results as of September 2016 where five out of them recorded increases in both their profit...- ProfRem
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- 5 banks recorded loss cbn nigeria news nigerian banks nigerian banks 2016 reports
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Business LIST of 5 Banks With High Profits Despite Recession
Not fewer than 5 Nigerian banks have defied the recession as they continued to post huge profits in their third quarter results. Ten out of 15 quoted banks on the Nigerian Stock Exchange have submitted their unaudited results as of September 2016 where five out of them recorded increases in...- ProfRem
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- 5 banks posts profits in 2016 cbn nigerian banks nigerian banks 2016 reports nigerian banks with profits
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Business UBA Closes €60m Deal With European Investment Bank
The European Investment Bank and United Bank for Africa (UBA) have agreed to a new €60 million lending programme to support private sector-driven growth across Nigeria. The deal is said to represent the EIB’s largest loan to UBA, and will allow UBA provide longer-term loans than currently...- ProfRem
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Business Nigerian Banks Modify International Spending Limits on ATMs
Nigerian banks have started to adjust international spending limits as forex scarcity which currently faces the country continues to bite harder. Daily Naira Debit Card limits for transaction on ATMs with current limits put at $200 is expected to be adjusted to $100 from tomorrow, October 1st...- ProfRem
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Business Mortgage Bank in Trouble For Diverting of Consumers’ Funds
Resort Savings and Loans Ltd. (RSL) is in trouble for allegedly diverting consumers’ funds as the Consumer Protection Council (CPC) beam torch on the allegation. This is contained in a statement issued by the Head, Public Relations of CPC, Mr Abiodun Obimuyiwa, on Sunday in Abuja. According to...- ProfRem
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- consumer protection council mortgate bank nigeria news nigerian banks nigerianbulletin resort savings and loans ltd.
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Business Zenith Bank Slashes Workers' Salaries by 30%
Zenith Bank Plc, Nigerian’s largest bank with current shareholder base and the biggest tier1 Bank has slashed its worker’s salaries by 30% despite declaring huge profit at last financial report. A staff who did not want his name mentioned told Pulse Nigeria that he and others woke up on August...- ProfRem
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- nigeria news nigerian banks nigerianbulletin pulse nigeria zenith bank zenith bank slash workers salary
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Business Nigeria Stock Market: Highlights of Today’s Trading Session [24-08-2016]
The Nigerian Stock Exchange (NSE) on Wednesday closed bullish as all-share index (ASI) gained 0.25% to close at 27,880.46 points, while market capitalisation increased by N9,575,528,215,428.93 . The stock market defied Central Bank of Nigeria suspension of all forex transaction of eight banks...- ProfRem
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- nigeria news nigeria stock market nigerian banks nse stock exchange report
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Business CBN Conducts Special Examination on Banks
The Central Bank of Nigeria (CBN) is currently carrying out examination on banks, in order to ascertain the actual well-being of banks owing to the nation’s macroeconomic challenges and rising non-performing loans, ThisDay reports. The Director, Banking Supervision, CBN, Mrs. Tokunbo Martins...- ProfRem
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- cbn nigeria news nigerian banks nigerianbulletin thisday newspaper tokunbo martins
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Business Banks Set to Raise Interest Rates on Existing Loans – How It Will Affect Nigerians
The Central Bank of Nigeria, monetary policy committee on Tuesday had raised interest from 12% to 14%, following the introduction of the new FX market in June, 2016. The committee also voted to retain cash reserve ratio at 22.5% and left the asymmetric corridor around MPC retained at +200 basis...- ProfRem
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- cbn central bank of nigeria foreign market how interest affect nigerians nigeria news nigerian banks nigerianbulletin punch newspaper
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Business CBN Mandates Banks To Review Provision For Foreign Loans
The Central Bank of Nigeria (CBN), yesterday, directed banks to review the money set aside for non performing foreign currency loans based on the exchange rate of the naira in the interbank market. The Director of Banking Supervision Department, CBN, Mrs. Tokunbo Phillips, gave the directive...- ProfRem
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- cbn foreign loans nigeria news nigerian banks nigerianbulletin tokunbo phillips
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Business CBN Gives Loan to Skye Bank to Improve Liquidity
The Central Bank of Nigeria has provided a loan to Skye Bank Plc to boost its liquidity after the lender breached requirements on capital and lending. The short-term lending facility will allow new management to “ensure that some withdrawals it suffered in the wake of the undue panic of last...- kemi
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- central bank of nigeria nigerian banks skye bank skye liquidity
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Business Fitch Downgrades Credit Ratings of First Bank, UBA
Fitch Ratings has downgraded First Bank of Nigeria Ltd's (FBN) and United Bank for Africa's (UBA) the Long-Term Foreign Currency Issuer Default Ratings (IDRs) to 'B' from 'B+'. The Outlooks are Stable. The agency has also downgraded the National Long-Term Rating of FBN Holdings Plc (FBNH), the...- ProfRem
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Business Kogi: 14 Banks Shut Down Operation Over Governor Bello's Harsh Policy
Not less than 14 commercial banks yesterday, suspended services to customers as a form of protest over harsh policy of the state government. According to Guardian, the affected commercial banks took the decision in protest against the state government’s decision to open unsolicited salary...- ProfRem
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- governor kogi state news nigeria nigerian banks workers' salary yahaya bello
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Business Nigeria: 4 Banks Meet CBN’s Criteria For Primary Market Dealers [See LIST]
As the Central bank of Nigeria set to name the lead players in the foreign exchange market today, about fours banks have met the criteria set by the regulatory agency. The lead players would be known as Foreign Exchange Primary Dealers, FXPD. Though CBN’s guidelines indicated that about eight...- ProfRem
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- cbn foreign forex dealers in nigeria nigeria nigerian banks nigerian naira
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Metro Nigerian Labour Congress Threatens To Shut Down 6 Banks
The Nigeria Labour Congress (NLC) said it will begin a nationwide shutdown of banks who have arbitrarily sacked a large number of workers contrary to laid down procedures and the country’s extant labour laws beginning from July 1, 2016. In a letter of intent to the six affected banks which...- PressRoom
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- diamond bank eco bank fidelity bank first bank first city monument bank nigerian banks nigerian labour congress skye bank
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