CBN Revives Publication of Key Economic Reports
BY CHINYERE OBIORA, LAGOS – Focused on reaffirming its commitment to transparency and accountability in the Nigerian economy, the Central Bank of Nigeria (CBN) has revived the publication of several…
Banking and Finance
Defunct Heritage Bank: NDIC Settles 82% Depositors
Says verification issues stalling payment to remaining 17.6% The Nigeria Deposit Insurance Corporation (NDIC) says about 82.36 per cent of failed Heritage Bank depositors have received their payments following the…
Zenith Bank’s Growth And Capital Raise Present Investment Opportunity
Going by its exceptional performance in growth and capital raise, Zenith Bank Plc has successfully firmly established itself as a powerhouse in the Nigerian banking sector by consistently delivering outstanding…
Again, CBN Raises Interest Rate To 26.75%
BY COBHAM NSA – The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has again raised the interest rate by 50 basis point from 26.25 percent to…
Unity Bank Customers Win Over N4m In Cashtoken Rewards Promo
Unity Bank customers have so far claimed over four million Naira (N4m) in cash rewards as part of its ongoing loyalty programme, recently launched in partnership with Cashtoken, a Cash…
NDIC Promotes Recipe For Sound Banking, Economic Dev
Blames insider abuses, financial malpractices for banks’ failure BY CHINYERE OBIORA, LAGOS – The Nigerian Deposit Insurance (NDIC) says consistent checks on insider abuses and financial malpractices that promote bank…
DBN Board Gets Five New Independent Directors
The Development Bank of Nigeria (DBN) Plc has appointed five new directors to fill the vacancies created by the exit of some directors whose tenures on the board have expired….
Dangote Blames CBN’s Interest Rate Hike For Poor Economic Growth, High Unemployment
BY EDMOND ODOK – The President and Chief Executive Officer of the Dangote Group, Aliko Dangote, has blamed the Central Bank of Nigeria (CBN) for the nation’s stunted economic growth…
NDIC Explains Delay In Paying Some Heritage Bank Customers
The Nigeria Deposit Insurance Corporation (NDIC) has blamed account names discrepancies in Bank Verification Number (BVN) linked alternate account of some defunct Heritage Bank customers for the delay in settling…
Anchor Borrowers Programme: GTBank Sues 60 Bank Executives Over N17bn Debt
With controversy still raging over the N17 billion Anchor Borrowers Programme (ABP) loan suit involving AFEX Commodity Exchange (AfCE), about 60 top executives of 13 commercial banks have been dragged…