Banking and Finance

One of the respected financial institutions in Nigeria, Stanbic IBTC Holdings Plc, is seeking the approval of the Central Bank of Nigeria (CBN) to operate in the country’s financial technology (fintech) industry. Stanbic IBTC has built a reputation in the financial services world, including banking, investment, asset management, amongst others. …

Nigeria’s diaspora remittances has risen to $14.2 billion in the nine months ending September 2021, up to 10 per cent Year-on-Year, YoY, from $12.9 billion in the corresponding period of 2020, reflecting the impact of post-COVID economic recovery measures. This is contained in a data from the Central Bank of …

British banking and financial service group, Standard Chartered Plc, is reported to have concluded plans to close down at least half of its Nigerian branches, in a major move, as it navigates towards digital banking. This is coming at a time the banking industry in Nigeria is facing stiff competition …

Africa’s global bank, United Bank for Africa has said that it has concluded plans to commemorate the 4th year anniversary of its flagship artificial intelligence Chabot, Leo with new offerings set to further change the face of digital banking in Nigeria “Birthed January 11, 2018, with a firm resolve to …

The Central Bank of Nigeria (CBN) has stated that excessive borrowing by the Federal Government from the CBN’s Means and Ways Advances window could frustrate its monetary policy. The CBN, as the Federal Government of Nigeria’s banker, handles the majority of the government’s banking business both inside and outside Nigeria. …

Stanbic IBTC Infrastructure Fund is delighted to announce its investment in the construction of a 20,000 metric tonne Liquified Petroleum Gas (LPG) storage terminal, the largest storage gas facility in Nigeria. The funding was provided to AP LPG Limited (a subsidiary of Ardova Plc) under a N12 billion senior debt …

Access Bank Plc, through its W Initiative, has concluded a community engagement programme to create awareness for the LSETF W Initiative loan package created for women in business. One of the brand objectives of Access Bank is to be the Bank of choice for women, particularly women in business. It …

United Bank for Africa Plc (UBA) has successfully raised $300 million through the issuance of a new five-year senior unsecured notes (144A/Reg S) listed on the London Stock Exchange. The offer was the first issue out of the newly established $1.5 billion Global Medium Term Note (GMTN) programme established in …

The Central Bank of Nigeria has said that it will give priority to foreign investors seeking to repatriate their profits and dividends. The CBN Governor, Godwin Emefiele, said this on Wednesday at the Nigerian International Partnership Forum in Paris. The apex bank in a bid to boost foreign reserves has …

Fast Adaptation to the Pandemic and a Consumer Shift Toward Online Payments Fuel Expectations, But Players Must Move Now to Seize Growth Opportunities, Says New Report by Boston Consulting Group Global payments revenues declined by only 2.5% from 2019 to 2020. The current value which stands at $1.5 trillion could …