Tag Archives: Business News

Stanbic IBTC Holdings Plc in 2022 audited financial statements for period ended December 31, 2022 has reported an increase of 10 per cent from N2.74trillion to N3.03trillion in total assets. According to the report, the increase was driven by growth in gross loans & advances and customer deposits. Despite challenges …

Nigeria’s inflation rate has risen above prediction to a record 21.91 percent in February. This signals a possible hike in monetary rates when the Monetary Policy Meeting of the Central Bank of Nigeria (CBN) meets next week. A report by the National Bureau of Statistics (NBS) yesterday showed that inflation …

A former Central Bank of Nigeria’s Deputy Governor, Kingsley Moghalu, has expressed dissatisfaction over the series of crises created by the naira redesign policy of the apex bank. Moghalu noted that the terrible suffering and economic loss Nigerians experienced as a result of the faulty implementation of the CBN’s naira …

By Yvonne-Faith Elaigwu, Head of Operations and Governance, OnePipe ‘Cashless’ has probably become one of the most popular words in Nigeria in the last few months. While it can be defined in different ways, it has one universal meaning and is characterised by the exchange of funds for goods and …

President of the 77th session of the UN General Assembly, Csaba Kőrösi has said the debt profile of the world’s Least Developed Countries (LDC) may hit $83 billion. In his remarks to the Civil Society Forum also being held on the margins of the LDC Leaders’ Summit in Qatar on …

Nigeria’s currency in circulation fell to a record low of N1.39 trillion in January 2023, representing the lowest level since December 2015, or seven years ago. This is according to data obtained from the Central Bank of Nigeria (CBN). The total amount mopped up in just a month of January …

The country’s foreign reserves fell by $427.14m in one month, figures obtained from the Central Bank of Nigeria revealed on Monday. This is as the crisis in the country’s currency worsened over the scarcity of the new naira notes. Figures obtained from the CBN on the movement of foreign reserves …

The month of January 2023 recorded the highest number of mobile money transactions since its inception at 108 million, numbers released by the Nigeria Inter-Bank Settlement System (NIBBs) has revealed. This is coming on the back of the Central Bank of Nigeria’s (CBN) stance on its cashless policy. This peak …

The Central Bank of Nigeria, Bauchi State, says it allocates N30 million new naira notes daily to each branch of banks in the state to increase access of customers to the new notes. An official of the apex bank, Mr Abdulkadir Jibrin, said this while monitoring banks in Bauchi on …

The KPMG 2022 Nigeria Banking Industry Customer Experience (CX) Survey has rated Stanbic IBTC Bank Plc high in retail and corporate banking in the country. According to the report, Stanbic IBTC Bank occupied the first position with a 73.8 CX score out of 100 in the retail segment and sustained …