The Central Bank of Nigeria (CBN) has revealed that Nigeria has an estimated $16 billion in domiciliary accounts of commercial and merchant banks. According to data contained in the apex bank’s statistical bulletin, Nigeria had a total domiciliary account balance…
United Bank for Africa (UBA) Plc, has in the last three years won the hearts of its customers with its artificial intelligence chat bot, LEO, which has proven to be the most formidable artificial intelligence chat bot till date; serving…
Access Bank Plc has announced the successful pricing of its $500 million 144A/Reg S Additional Tier 1 Eurobond. The offering achieved a pricing of 9.125% yield and coupon recording over 200% over-subscribed order-book which peaked at over $1 billion. The…
By Kayode Tokede Amid the adoption of digital banking channels, three leading banks, Zenith Bank Plc, Access Bank Plc and Guaranty Trust Holding Company Plc have generated a sum of N75.24trillion from electronic banking transactions in the first half (H1)…
By Kayode Tokede The Board of Directors of Ecobank Nigeria has announced the appointment of three non-executive directors, Mrs. Bola Adesola, Mrs. Titilayo Olujobi and Mrs. Bimbola Wright. According to the Board, the new Directors have distinguished themselves in their…
An Economist, Mr Tope Fasua, has blamed corruption, inefficiency, low productivity and lack of patriotism, for the unending depreciation of the Naira. “What is happening to the Naira is that all of us are having to pay for sins of…
The African Development Bank (AfDB) is collaborating with African countries to develop and structure innovative financing instruments to address insecurity and challenges to economic growth investment and development in the continent. President of AfDB, Dr Akinwumi Adesina, said this at…
The Oyo State Governor, Mr Seyi Makinde, says the State government has projected Internally Generated Revenue of N79.8 billion for the 2022 fiscal year. Makinde made this known on Wednesday in Ibadan, while presenting the state budget proposal tagged: “Budget of Growth and Opportunities” to the…
Kayode Tokede with NAN A Some Financial Experts have urged the Central Bank of Nigeria (CBN) to take cognizance of the impact its proposed digital currency (eNaira) might have on the country’s financial sector. The experts spoke in separate interviews…
By Kayode Tokede Naira at the Investors & Exporters Foreign Exchange (I & E FX) window on Tuesday appreciated by 0.02 per cent to close at N414.83 against the dollar. The local currency close up by 0.10 per cent and…
