Banking & Finance

Oluwasina Phillip The Central Bank of Nigeria has said that states must repay all loan facility of about N1.5trn received as support from the apex bank, a punishment for accusing it of printing N60bn to support March federal allocation. The apex bank governor, Godwin Emefiele, said this on Thursday in …

Oluwasina Phillip The Central Bank of Nigeria has unveiled plans to include sugar and wheat on the list of commodities that will be banned from accessing foreign exchange. The CBN Governor, Mr. Godwin Emefiele made this disclosure on Thursday in Awe, Nasarawa state during an inspection tour of the proposed …

Babajide Iletogun The Federal Government on Thursday commenced the process for full commercialisation and recapitalisation of the Federal Mortgage Bank of Nigeria with the inauguration of an eight-member Joint Technical Committee. Inaugurating the committee, which comprises four members each from the Bureau of Public Enterprises and the FMBN in Abuja, …

Ebuka Daniel Jaiz Bank Plc, a non-interest bank, said it has embraced and deployed the newly introduced Quick Response Code to ease transactions for her customers and merchants. It said this in a statement issued in Abuja. NQR code is an indigenous payment platform designed by the Nigeria Interbank Settlement …

Ololade Omosan-Agie  The Asset Management Corporation of Nigeria has approached the National Assembly to accommodate the corporation in the provisions of the newly amended BOFIA (2020), which sets up Special Tribunals for hearing financial matters emanating from the financial institutions. According to a statement issued by AMCON, this was due …

Oluwasina Phillip Sterling Bank said it has disbursed over N100bn digital loans and about N5bn digital credits through its digital credit solution online instant lending platforms called Specta and PaywithSpecta. It disclosed this in a statement on Tuesday. Specta and PaywithSpecta provide services to salaried and self-employed individuals, small and …

Olololade Omosan-Agie SunTrust Bank has gifted 100 Nigerian female drivers  Hyundai Sonata vehicles to support women who are into the ride-hailing industry. The bank on Monday presented the cars to the women at its headquarters in Lagos under the ‘Women on Wheel’ initiative. The project which cost the bank N250m was …

Oluwasina Phillip The Bank of Industry Group concluded the 2020 financial year with a 78.8 per cent growth of assets from N1.04tn to N1.86tn between 2019 and 2020. A statement by the bank said the increase was driven to a large extent by the successful debt syndication of €1bn and …

Ebuka Daniel The Central Bank of Nigeria has said that it is still supporting businesses and households with the disbursement of the Covid-19 loans. The apex bank said that households and businesses affected by the COVID-19 can still apply for loans under its N50bn Targeted Credit Facility. It said the …

Ololade Omosan-Agie Nigerian banks have insisted that they are not indebted to any telecom operator for end-user billing worth N42bn, an amount claimed by Mobile Network Operators. The telecom operators under the Association of Licensed Telecommunications Operators of Nigeria in March announced that it would suspend all Unstructured Supplementary Service …