Banking Business Top Story

CBN releases GSI framework to check bad loans

Reading Time: < 1 minutes Image Credits: REUTERS/Afolabi Sotunde. The Central Bank of Nigeria (CBN) has released operational guidelines on the Global Service Instructions (GSI), aimed at checking the spate of bad loans within the banking sector. According to a statement by Chibuzo Efobi, for the Director, Financial Policy and Regulation Department of the apex bank, the initiative was conceived Read More…

Banking Business Top Story

Buhari launches eNaira on Monday

Reading Time: 2 minutes The digital currency, the eNaira, will be launched on Monday. This is coming many months after the Central Bank of Nigeria (CBN) barred banks and financial institutions from dealing in or facilitating transactions in cryptocurrencies. The digital currency will be launched by the Nigerian President, Muhammadu Buhari at State House, Abuja. Central Bank of Nigeria Read More…

Banking Business Top Story

Otedola does not have controlling FBN Holding shares, says nominee

Reading Time: 2 minutes Image Credits: George Osodi/Bloomberg. Owns five per cent FBN Holding shares, bank group confirms FBN Holdings (FBNH) Plc on Saturday has now confirmed that Mr Femi Otedola has indeed acquired a 5.07 per cent equity stake in the company. This is coming barely 24 hours after it denied notification of possible acquisition of bulk shares Read More…

Banking Business

CBN set to roll out e-Naira by Independence Day

Reading Time: 3 minutes Image Credits: Nairametrics. Independence Day, 1st October 2021, is the day that the Central Bank of Nigeria (CBN) has set aside as the day the new digital currency will be rolled out. According to the Director of Information Technology, Central Bank of Nigeria (CBN), Rukiya Mohammed, the apex bank has concluded plans to launch the Read More…

Banking Top Story

CBN plans pilot digital currency by year-end

Reading Time: < 1 minutes Image Credits: REUTERS/Afolabi Sotunde/File Photo. If all plans go as intended, the Central Bank of Nigeria (CBN) will be launching its own digital currency by the end of the year. According to an official of the nation’s premier bank, Central Bank Director of Information Technology, Rakiya Mohammed, the project to create some form of digital Read More…

Banking Business World

Credit Suisse scandals prompt Switzerland to think unthinkable: punish bankers

Reading Time: 3 minutes Image Credits: Goldblum, REUTERS/Arnd Wiegmann. Exasperation with Credit Suisse following a string of scandals is prompting Switzerland to rethink a system in which top bankers have been largely untouchable. Credit Suisse’s heavy losses from the collapse of family office Archegos and the decimation of billions of client investments backed by insolvent British financier Greensill have Read More…

Banking Business Economy Featured

CBN urges banks to support businesses seeking expansion

Reading Time: 3 minutes Image Credits: Bloomberg. The Central Bank of Nigeria (CBN) has urged commercial banks to leverage their presence in other parts of Africa to support Nigerian businesses seeking to plant their footprints into new markets. The CBN Governor, Mr Godwin Emefiele, gave the advice at the Zenith Bank’s 2021 Export Seminar on Tuesday in Lagos. Emefiele Read More…

Africa Banking Business Top Story

Bloomberg ranks Afreximbank No. 1 Mandated Lead Arranger in Sub-Saharan Africa

Reading Time: 2 minutes Image Credits: The Africa Report. Bloomberg’s 2020 full-year Capital Markets League Tables has ranked African Export-Import Bank (Afreximbank) Africa’s number one Mandated Lead Arranger (MLA) in sub-Saharan Africa. The bank made this known in a statement it issued on Friday in Cairo. According to the statement, the bank is delighted to have surpassed 2019’s second Read More…

Banking Business Investment Top Story

US-based Nigerian billionaire to invest N3bn in Fidelity Bank

Reading Time: 3 minutes Dr Oluleye Adigun, a US-based Nigerian billionaire, has revealed ongoing efforts to invest three billion naira ($6.8million) in Fidelity Bank through shares acquisition. Adigun told the News Agency of Nigeria (NAN) in a telephone interview, on Wednesday, that the acquisition was part of his planned investment in the Nigerian economy, adding that the process of Read More…