The World Bank says the COVID-19 pandemic encouraged financial inclusion, leading to increase in digital payments. This, it stated, was amid global expansion of formal financial services. It stated in its latest Global Findex 2021 database released on Wednesday that…
Wema Bank Plc has concluded arrangement to commence its N40 billion rights issue to the existing shareholders of the bank in August. Wema Bank got shareholders nod at an Extraordinary General Meeting (EGM) to raise capital of up to N40…
Fitch Ratings has upgraded Fidelity Bank Plc’s long-term issuer default rating (IDR) from ‘B-’ to ‘B,’ reflecting the bank’s increased creditworthiness. The rating agency also upgraded Fidelity’s National Long-Term Rating to ‘A(nga)’ from ‘BBB+(nga).’ According to the global rating agency,…
The Nigeria Deposit Insurance Corporation (NDIC), has called for stronger collaboration with the ICPC on implementation of the National Anti-Corruption Strategy (NACS) in the corporation. A statement by Mr Bashir Nuhu, the Director, Communication and Public Affairs Department of the…
Unity Bank’s flagship Entrepreneurial Development Initiative, Corpreneurship Challenge, is set to return for the 8th edition across 10 locations in Nigeria, including a debut in Delta and Rivers States. The Retail lender kick-started the Corpreneurship Challenge scheme in 2019, with…
Fidelity Bank, a leading financial institution in Nigeria, has collaborated with ImpactHER to support 1,052 female entrepreneurs across the 36 states of Nigeria in addressing the challenges they face in their small and medium-sized businesses. Through diverse training on digital…
The Debt Management Office (DMO), has said that ordinary Nigerians (retail investors) also deserve a chance to operate in the country’s financial market, thereby boosting financial inclusion. Mr Monday Usiade, DMO’s Director, Market Development Department, said this in an interview…
The management of First Bank of Nigeria Ltd. has unveiled the FirstGem fund (FirstGem loan), a single-digit loan scheme, targeted at female entrepreneurs. In a statement on Sunday, Folake Ani-Mumuney, the bank’s Group Head, Marketing and Corporate Communications, explained that…
The Minister of State for Industry, Trade and Investment, Amb. Mariam Katagum has reiterated Federal Government’s commitment to policies that will support Micro Small and Medium Enterprises (MSMEs). Katagum said this on Monday in Abuja at a ceremony to mark the…
The market capitalisation of the top five banks, referred to as the Tier-1 banks or FUGAZ, appreciated by 1.77% to close at N2.27 trillion as of 24th of June, 2022, as investors in these banks gained a total of N39.44…
