The growth of the financial technology, Fintechs, with over 200 startups, is revolutionising the financial services industry. The sector raised about $440 million in investments in 2020 and more than $600 million in 2021, amounting to nearly a quarter of…
By Sodiq Adelakun The Board of Directors of Wema Bank Plc. has announced the appointment of Dr. Oluwayemisi Olorunshola, as its new Chairman. Her appointment was confirmed during the weekend days after the retirement of the former Board Chairman, Babatunde…
By Sodiq Adelakun The Central Bank of Nigeria (CBN) has confirmed the appointment of Dr. Isa Abdulmumin as its Substantive Director, Corporate Communications. Abdulmumin was in February appointed the Acting Director of the department, taking over from Mr Osita Nwanisobi,…
First Bank of Nigeria Ltd. recorded significant growth across key metrics in the first quarter of 2023. In its first quarter 2023 financial result, the bank stated that it recorded gross earnings of ₦245.7 billion, a 44.2 per cent growth…
The President of the World Bank Group, David Malpass, has warned that Nigeria’s parallel exchange rate is harmful as it worsens future debt service payments and increases the risk of debt distress. Malpass said this in a blog post titled…
By Sodiq Adelakun The Central Bank of Nigeria (CBN) has refuted claims that the apex bank devalued the naira to N631/$1 in an effort to unify the exchange rate. This came after unverified reports from a newspaper (not Nigerian NewsDirect) …
Wema Bank Plc has assured shareholders of its commitment to conducting the expected rights issue before end of this year adding that it just raised N21 billion Alternative Tier-1 Capital in line with the objective of increasing its capital base…
The National Pension Commission (PenCom) on Wednesday, dissociated itself from a misleading publication alleging that it has commenced recruitment for 2023/ 2024. Mr Abdulqadir Dahiru in a statement issued in Lagos, said the commission is not connected to the website…
African Development Bank (AfDB) President, Akinwumi Adesina, and the Deputy Executive Secretary and Chief Economist of the Economic Com mission for Africa (ECA), Hanan Morsy, have lamented the high costs of debts incurred by African governments adding that it was…
The former Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has said the public debts remain sustainable as the country has adequate capacity to repay its debts. While speaking at her valedictory ceremony in Abuja, Ahmed said, “Despite…
