The Managing Director/Chief Executive Officer of Wema Bank, Moruf Oseni, has disclosed that after the fresh banking sector recapitalisation, the bank would retain its national licence while aiming for tier-1 banking status. Oseni said this during the week at the…
Access Holdings PLC, a leading financial services group, has echoed the need for ethical considerations in using Artificial Intelligence (AI), calling stakeholders in the financial industry to factor its sustainability implications. This call to action was driven by a compelling…
The naira has experienced consecutive double-digit appreciation on the official market, and sources say that the Central Bank of Nigeria (CBN) has been selling more dollars on the official market in anticipation of a $1.3 billion non-deliverable forward (NDF) maturing…
Stakeholders in the capital market have voiced reservations about the proposed amendments to the Central Bank of Nigeria (CBN) Act No. 7 of 2007, warning of potential adverse economic consequences. In a corporate filing with the NGX on Tuesday, the…
…Says economy grew by 2.99 percent By Matthew Denis, Abuja The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has said that the Nigerian economy and oil revenues are experiencing a positive growth rate under President Bola…
The earnings of FBN Holdings, the parent company of Nigeria’s oldest bank, First Bank rose to the highest in at least 13 years in the first quarter of 2024, according to its latest financial statement. The group’s after-tax profit rose…
…Investors delighted with bank’s impressive performance By Seun Ibiyemi Shareholders have expressed readiness to massively support and mobilise for the ongoing recapitalisation of Fidelity Bank Plc amid commendations for the impressive performance of the bank over the years. Shareholders were…
The naira held its ground on the unofficial market, appreciating against the dollar on the parallel market as the dollar index posted some losses amid profit-taking. The value of the naira was N1,500 on Friday, compared to N1,510/$1 on Thursday…
…As CBN raises N1.16 trillion from OMO bill auction Nigeria’s foreign exchange market has seen the turnover on the Nigerian Autonomous Foreign Exchange Market (NAFEM) window surge by an astonishing 231.99 percent on May 24, 2024. This development coincides with the Central Bank…
By Matthew Denis For organisational and Human Capital enhancement, the Central Bank of Nigeria (CBN) has retrenched nearly 200 employees across various departments in a bank-wide restructuring exercise. Recall that the apex bank sacked some directors a few months ago.…
