Banking & Finance

Fidelity Bank Plc has acquired 100 per cent equity in Union Bank Plc UK, the bank said on Tuesday. Union Bank UK has been in operation since 1983 offering  banking services including personal banking, trades finance, treasury management and structured trade and community finance which offers to individual and corporate …

Jaiz Bank does not recognise Non-Permissible Incomes (NPI) in its books because it is against the tenet of Non-interest banking principles. Such Incomes are kept aside and given to charity, Abdulfattah Amoo, Jaiz Bank’s Executive Director in charge of the Southern operations made the clarification at the weekend in Ibadan, …

The Central Bank of Nigeria has finally unveiled the USSD code for the country’s digital currency, eNaira. The unveiling took place in Kano State where the CBN governor, Godwin Emefiele, was represented by the deputy governor of operations, Folashodun Adenisi-Shonubi. The apex bank said the code, *997#, will help deepen …

The Central Bank of Nigeria Governor, Mr Godwin Emefiele on Saturday said that the health care intervention of the apex bank under his leadership has reduced medical tourism for Nigeria. The CBN Governor said this at the 33rd seminar for Finance Correspondents and Business Editors which was organized by the …

The Bank of Industry (BoI) has announced that it has successfully completed a landmark EURO 1 billion Guaranteed Senior Loan Facility to further enhance its capacity to deliver on its mandate, in line with President Muhammadu Buhari’s economic diversification agenda. BOI in a statement said the initial mandated lead arrangers (IMLAs) and underwriters for the senior …

Shareholders of Jaiz Bank Plc will receive a total of N1.38BN dividend for the Year Ended 2021, representing 4 kobo per ordinary share of 50 kobo each. This was unanimously approved by the shareholders at the 10th Annual General Meeting (AGM) of the Bank yesterday in Abuja. This the third …

Today the African Export-Import Bank (Afreximbank) and the SADC Business Council (SADC BC) launched the SADC – Africa Trade and Investment Marketplace which aims to promote regional trade, unlock investment opportunities, deepen economic cooperation, and drive sustainable business growth between the SADC region and the rest of Africa. The SADC …

Jaiz Bank Plc’s unaudited financial results for the second quarter ended 30 June 2022 were released to the Nigerian Exchange Group (NGX), revealing a 27.6 per cent increase in Profit After Tax (PAT) from N1.99bn declared in June 2021, to N2.54bn at the end of June 2022. Given the performance, …

The FCMB Group Plc has declared a 73.2 per cent growth in profit for the six months ended June 30, 2022. A statement said the bank recorded a profit before tax of N15.4bn, an equivalent of 73.2per cent year-on-year growth compared to N8.9bn in 2021. It also recorded 84.2per cent …

In the face of rising demand for foreign exchange for both goods and services by Nigerians, the Central Bank of Nigeria (CBN) has advised Nigerians to resist the urge of succumbing to the speculative activities of some players in the foreign exchange market. Speaking with newsmen in Abuja on Thursday, …