Banking and Finance

By Elvis Eromosele I was at Ikeja underbridge recently and couldn’t find a place to ease myself. I looked, hard. People have had the same experience across major markets in Lagos. Lagos lacks conveniences. Open defecation is rampant in Nigeria. Lagos, often called the nation’s economic hub, faces a growing …

After 52 years of listing on the Nigerian Stock Exchange, Union Bank of Nigeria Plc has announced that it would be delisting from the NGX. According to a corporate filing on the NGX website, the bank announced it is considering a payout of N7.70 per share to its shareholders in …

Leading Nigerian fintech, PalmPay has won the awards for Financial Institution of the Year, Best Use of Social Media and Brand Manager of the Year in person of Kevin Olumese. The award was presented last Friday at the Prestigious Nigerian Marketing Awards at Eko Hotel and Suites, Victoria Island. The …

Stanbic IBTC Bank Limited, a subsidiary of Stanbic IBTC Holdings, hosted a webinar focused on facilitating seamless payment experience for business owners through the enhanced Enterprise Online (EOL) payment platform. The webinar themed “Simplifying Payments for Businesses”, unveiled EOL 2.0, an upgraded solution created to facilitate smooth payment experience and improve human …

By Olalere Ojedokun A report being syndicated by a section of online media with the title: Polaris Bank loses N26bn loans granted to 6 ex-directors without collaterals, made several claims in figures, interpretations and practices. Claim 1. POLARIS Bank has lost N26.005 billion worth of loans granted to 6 ex-directors, …

…Total Assets Grows by  49.5% to N16.24 trillion Consolidating on its recently released second-quarter performance, Africa’s Global Bank, United Bank for Africa (UBA) Plc, has again announced a splendid performance in its unaudited financial results for the third quarter ended September 30, 2023 (Q3 2023), recording impressive growth across all …

Since its grand entrance into the Nigerian banking sector, PremiumTrust Bank has sent tongues wagging on the issue of ownership structure. Licensed by the Central Bank of Nigeria in December 2021 to operate as a Commercial Bank in Nigeria, but officially opened for business in Port-Harcourt, Rivers State on the …

Following the suspension of the Central Bank of Nigeria Governor, Godwin Emefiele, President Bola Tinubu has appointed Folashodun Adebisi Shonubi as the Nigeria new acting CBN Governor. Before his new appointment, Adebisi Shonubi was CBN Deputy Governor (Operations Directorate). He assumed the position of Operations Directorate on October 17, 2018. …

With the immediate suspension of the Central Bank of Nigeria Governor, Godwin Emefiele, from office, his Deputy (Operations Directorate) Folashodun Adebisi Shonubi, has been announced to act in his capacity in the meantime. President Bola Tinubu, on Friday night suspended Emefiele. The suspension was announced in a statement issued by …

After one year of establishment, the Central Bank of Nigeria’s eNaira recorded low adoption, according to the International Monetary Fund. This was contained in a recent report titled ‘Nigeria’s eNaira, one Year After’ by the IMF. The Washington-based bank specifically stated that about 98.5 per cent of eNaira wallets downloaded …