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BDC operators list recipes for stronger naira

The Association of Bureaux De Change Operators of Nigeria (ABCON) on Wednesday listed recipes for a stronger naira and a more stable exchange rate in 2018. President of ABCON, Alhaji Aminu Gwadabe, said the recipes were agreed at a meeting...

CBN, SEC complete rights issue share allotment of Union Bank

The Central Bank of Nigeria (CBN) and Securities and Exchange Commission (SEC) have concluded share allotment and capital clearance review of the N50 billion rights issue of Union Bank of Nigeria. The bank said in a statement in Lagos that...

Egypt issues $944.5mln 1-yr T-bills at 3.346% average yield – C.Bank

Average yield on Egyptian one-year dollar-denominated treasury bills fell to 3.346 per cent on Tuesday from 3.495 per cent at the last auction on Dec. 11, the central bank said. The Finance Ministry sold 944.5 million dollars in treasury bills...

Mauritius’s SBM makes offer for some assets of Kenya’s Chase Bank

Mauritius’s SBM Holdings had made a binding offer for some of the assets and liabilities of Kenya’s Chase Bank, the Kenyan central bank said on Friday. The Central Bank of Kenya (CBK) has been seeking a strategic investor for Chase,...

Investment banking fees at record high in 2017

Buoyed by a recovery in equity issuance, global investment banking fees rose 16 by per cent to an estimated $104 billion in 2017, the Media data shows. This is the highest level since its records began in 2000. The rebound in...

First Bank clinches 2 CBN awards on fraud

First Bank of Nigeria has been awarded the Best FraudDesk and most Cooperative FraudDesk in the industry by the Nigerian Electronic Fraud Forum (NeFF) at its 2017 Annual Dinner and Awards. The bank said this on Tuesday in Lagos through...

Bank organises youth mentoring programme

First Bank of Nigeria Plc on Thursday said it was organising a youth mentoring session titled “Building a Financially Literate Tribe” to promote financial literacy. The information was contained in a statement signed by Folake Ani-Mumuney, the Group Head, Marketing...

Egypt to choose 5 banks to arrange next euro bonds issuance

Egypt will choose between four to five international banks to arrange the next euro bonds issuance, its Finance Minister, Amr El-Garhy, told the press on Tuesday. “Egypt will conduct a short road show to promote euro bonds issuance during January”,...

Yuletide: Bank customers face challenges at ATMs

Barely 24 hours to Christmas, bank customers in Benin, Edo State, lamented over inability to make withdrawals from Automated Teller Machines (ATM) . TBI Africa correspondent who went round the metropolis reports that not many of the ATMs in some...

Bill to regulate bank charges passes second reading

A bill for an Act to amend the Banks and other Financial Institutions Act has passed second reading in the House of Representatives.   The amendment seeks to mandate banks and other financial institution in Nigeria to state in writing, all...

BOI, Unity Bank in court over N150m loan

Bank of Industry (BOI) and the Unity Bank Plc on Tuesday were at the FCT Court, over non-performance of N150 million loan granted to Valentino Project Limited by BOI. Valentino Project Ltd had in 2012 secured a loan of N150...

Bank splashes 13 customers with N19m to raise saving culture

Fidelity Bank Plc on Tuesday splashed 13 customers with N19 million in the second monthly draw of “Get Alert in Million Reloaded” promo in various regions of the country. The bank’s Managing Director, Mr.Nnamdi Okonkwo, said during the promo draw...

CBN to continue supporting financial service penetration –Emefiele

The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, on Saturday said the bank would continue to support measures that would deepen penetration of financial services in the country. Emefiele said this while delivering a welcome address...

Eurobond: Fidelity Bank emerges best performing stock in November

Fidelity Bank Plc has emerged the best performing stock in percentage terms on the Nigerian Stock Exchange (NSE) for the month of November. Data obtained from the NSE for the period under review showed that the stock increased by 35.53...

Naira appreciated by 30.3% against dollar in 10 months

The naira has appreciated by 30.3 per cent since February when the Central Bank of Nigeria (CBN) began its aggressive interventions at the foreign exchange market, the TBI Africa reports. The Nigerian currency had exchanged at N520 to the dollar...

CBN governor tasks graduates on job creation

The Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has tasked graduating students of the University of Nigeria, Nsukka (UNN) to create jobs in order to overcome the current economic challenges. In a statement by Mr Isaac Okoroafor, the...

FMBN disburses over N7b loan to 800 beneficiaries in 2017

The Federal Mortgage Bank of Nigeria (FMBN) on Wednesday said it disbursed more than N7 billion loan to 800 beneficiaries in 2017. Its Managing Director, Ahmed Dangiwa, disclosed  this at the FMBN 2017 Management Retreat in Abuja, with the theme...

Naira maintains N362.5 to dollar at parallel market

The Naira on Tuesday maintained N362.5 to the dollar at the parallel market, TBI Africa reports. The Pound Sterling and the Euro closed at N480 and N430. At the Bureau De Change (BDC) window, the Nigerian currency was sold at N362...

Lagos City Marathon: Focus is healthy living, says Access Bank

General Manager of the Access Bank Lagos City Marathon, Yusuf Alli, said the race’s aim is to encourage the running culture among citizens due to its immense health benefits. Alli said on Sunday in Lagos that running has immense health...

FG allots N256.23m in November savings bond sales – DMO

The Federal Government allotted N256.23 million in its November, 2019 and 2020 savings bond sales, the Debt Management Office (DMO) has said. The allotment results, derived from its website on Friday showed that N72.42 million was allotted at 12.09 per...

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Obasanjo successfully completes PhD programme at NOUN

Former President, Chief Olusegun Obasanjo, is among 14,771 persons expected to receive honours at the 7th convocation of the National Open University of Nigeria...