Access Bank Plc has completed the acquisition of National Bank of Kenya Limited (NBK) from the KCB Group PLC (KCB Group).
A statement by the bank on Friday said the development marks the conclusion of a transaction that began in March 2024, adding…
The Central Bank of Nigeria (CBN), in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS), has launched the Non-Resident Bank Verification Number (NRBVN) platform for Nigerians in diaspora.
Launched on Tuesday, the innovative digital gateway, which is projected to actualise the CBN’s $1…
The Debt Management Office (DMO) has opened subscriptions for a N300 billion Series V11 Ijarah Sukuk to fund critical road projects across the country.
The offer opened on Monday would bring total subscriptions so far to about N1.09 trillion.
The issuance of the new…
The Central Bank of Nigeria (CBN) has allotted N598.33 billion Nigerian Treasury Bills across three maturities.
The 365-day bill accounted for 80 per cent of total sales and subscriptions, amounting to a sale of N482.62 billion of the tenor.
The 81-day bill saw the…
The African Export-Import Bank, through its development impact investment arm, the Fund for Export-Development in Africa, has unveiled a $1bn Africa Film Fund to revolutionise the continent’s film and creative industry.
The announcement was made on Wednesday via an official statement posted on…
The Nigeria Deposit Insurance Corporation (NDIC) has commenced payment of N46.6 billion as the first tranche of liquidation dividends to depositors of the defunct Heritage Bank, whose funds exceeded the maximum insured limit of N5 million.
The corporation announced the development in a…
The Chairman of the Board of Directors, United Bank for Africa Plc (UBA), Tony Elumelu, on Friday assured stakeholders that the bank will meet the Central Bank of Nigeria’s (CBN) N500 billion minimum capital requirement for international commercial banks by Q3 2025,…
The Securities and Exchange Commission (SEC) has issued a stern warning to celebrities, bloggers and social media influencers against promoting unregistered investment schemes, as the regulatory body intensifies efforts to protect investors under the newly enacted Investments and Securities Act (ISA) 2025.
The…
Despite prevailing macroeconomic challenges, the top five Nigerian banks have posted a combined profit before tax (PBT) of N5.1 trillion for the 2024 financial year, a 59.4 per cent increase from N3.2 trillion recorded in 2023.
The top five banks – First HoldCo,…
VFD Microfinance Bank has reported a significant 39.8 per cent increase in revenue, rising from N3.2 billion in 2023 to N4.5 billion in 2024. The impressive growth is accompanied by a remarkable turnaround in profitability, with the bank posting a profit after…
