The Nigeria Data Protection Commission (NDPC) has imposed a fine of N555,800,000 on Fidelity Bank Plc for violating data protection regulations. This significant penalty, announced by the National Commissioner of NDPC, Dr. Vincent Olatunji, underscores the Federal Government’s commitment to enforcing data protection standards across the country. Speaking at the Nigeria Data Protection (NDP) Act Read More…
In a significant move, the Central Bank of Nigeria (CBN) has introduced new minimum capital requirements for banks, aiming to bolster their financial stability and enhance their capacity to support the Nigerian economy. Here are the key details: New Capital Thresholds: Implementation Timeline: Strategies for Compliance: The CBN encourages banks to explore various avenues to Read More…
Herbert Wigwe, the Group Chief Executive Officer of Access Holdings Plc, has tragically lost his life in a helicopter crash near the Nevada border in California. The incident occurred on Friday, February 9, 2024, casting a somber shadow over both the business and aviation communities. The ill-fated helicopter, identified as a Eurocopter EC130, met its Read More…
The Central Bank of Nigeria (CBN) has reaffirmed the safety of funds held in Nigerian banks, quelling concerns among depositors and customers. Mrs. Hakama Sidi-Ali, the Acting Director of the CBN’s Corporate Communications Department, addressed apprehensions following reports hinting at potential takeovers of certain financial institutions under CBN supervision. Sidi-Ali clarified that the assurance stemmed Read More…
Moniepoint Microfinance Bank (MfB) has unveiled a festive season treat for its customers through the “Moniepoint Personal Banking Refer and Earn” initiative. The Managing Director, Babatunde Olofin, highlighted that this programme aims to reward customers during the holiday season, aligning with the spirit of generosity that defines this time of the year. Olofin emphasised the Read More…
In a significant stride within the financial domain, The Alternative Bank proudly presented two groundbreaking financial products, AltBiz and AltInvest, at the ongoing 44th Kano International Trade Fair. This unveiling signifies a pivotal juncture for the bank, solidifying its influential role in reshaping the financial landscape, particularly in the northern region. AltBiz, tailored for business Read More…
In a significant move towards sustainable practices, Fidelity Bank Plc announced its official endorsement of the UN Principles for Responsible Banking (PRB), aligning its operations with a unified framework aimed at fostering a sustainable banking industry. The collaboration, fostered by the United Nations Environment Programme Finance Initiative (UNEP FI), promotes a collective effort among banks Read More…
Idris Dayo Mustapha aka Drizzle Lomo, a British-Nigerian singer, has pleaded guilty in New York for his involvement in a sophisticated hacking scheme spanning over seven years. This scheme targeted banks and brokerages, resulting in over $6 million in losses for customers. At a hearing presided over by U.S. District Judge Pamela Chen in Brooklyn, Read More…
Sterling Bank Limited, a leading financial institution in Nigeria, has clinched the prestigious title of the 2022 Overall Best Workplace in Nigeria, affirming its consecutive win in the large corporate category awards hosted by Great Place to Work (GPTW). This year marks Sterling Bank’s continuous triumph in claiming the overall best workplace award by GPTW Read More…
The Nigeria Association of Small and Medium Enterprises (NASME), in conjunction with MTN MoMo, has introduced a mobile money platform aimed at empowering startups and small and medium enterprises (SMEs) to expand their businesses. Announced at the MTN MoMo and NASME Symposium and Exhibition in Lagos, the initiative signifies a concerted effort to bolster the Read More…
