By Seun Ibiyemi Fitch Ratings, a leading provider of credit ratings, commentary and research, has said that Nigerian third-tier banks are more likely to pursue mergers and acquisitions (M&A) or downgrade their licences as they strive to meet the Central…
The Banking sector recorded a strong start to the year, with the NGX Banking Index surging by 9.76 percent in January, significantly outperforming the broader market, according to a corporate report obtained from the Nigerian Exchange Group on Tuesday. The…
By Seun Ibiyemi The Managing Director, Wema Bank, Mr Moruf Oseni, on Wednesday disclosed the bank’s plan to raise N200 billion in fresh capital to complete its capital raise exercise. Oseni, who made this known in a statement in Lagos,…
By Seun Ibiyemi The Central Bank of Nigeria (CBN) has extended the deadline for the recapitalisation of Bureau De Change (BDC) operators from December 3, 2024, to June 3, 2025. Aminu Gwadabe, president of the Association of Bureaux De Change…
Managing Director of First City Monument Bank (FCMB), Yemisi Edun, has affirmed that the ongoing recapitalisation of Nigeria’s banks will help address this shortfall. Speaking at the 17th Annual Banking and Finance Conference in Abuja, Edun stressed the need for…
By Esther Agbo The proposed recapitalisation in Nigeria’s insurance sector has sparked significant debate among industry stakeholders, with opinions divided on whether it will serve as a catalyst for growth or an impediment to new entrants. Experts highlighted that while…
The Central Bank of Nigeria has reaffirmed its commitment to supporting the federal government’s target of achieving a $1tn economy. Speaking at the Afrinvest 2024 Banking Sector Report Launch, Acting Director of Financial Policy and Regulations, Mr John Onoja, representing…
In a significant stride towards fostering economic growth, Access Bank PLC, sub-Saharan Africa’s largest bank by customer base, has celebrated a landmark moment in its partnership with the Dutch Entrepreneurial Development Bank (FMO). The occasion marked the signing of a…
The Management of First City Monument Bank (FCMB) has disclosed plans to raise N150 billion between now and September 2024. The Chief Executive Officer (CEO) of FCMB Group Plc, Ladi Balogun, stated this on the sidelines of the company’s Annual…
Mr Aigboje Aig-Imokhuede, Chairman of Access Holdings Plc, says he’s confident that the bank would raise 300 million dollars in capital for Access Bank, considering the bank’s strong market position and shareholders’ support. Aig-Imokhuede said this in an interview with…
