Banking and Finance

Heritage Bank Plc has announced the appointment of Akinola George-Taylor as its acting Managing Director as Dr. Ifie Sekibo who has served his 10 years tenure at the bank retires. Heritage bank in a statement also announced two new executive directors all having…

The Securities and Exchange Commission (SEC) has said that  operationalising crowdfunding will accelerate financial inclusion agenda of the country and boost Micro Small and Medium Enterprises (MSMEs). This is contained in a statement by the SEC Executive Commissioner, Operations, Mr. Dayo Obisan, yesterday…

The Central Bank of Nigeria injected $7.6bn into the economy to stabilise the value of the naira in five months. This was obtained in the banking regulator’s monthly economic reports on foreign exchange market developments. According to the reports, the CBN intervened in the…

The World Bank says it has disbursed $31.7bn as climate financing in its 2022 fiscal year. It stated that this is a 19 per cent increase from the $26.6bn it recorded in its last fiscal year. According to it, lending for climate-related investments…

Banks’ operational costs have continued to rise in recent months over the uptick in inflation,   high energy prices, and exchange rate crises, The Nation has learnt. To reduce the impact of these challenges on their profitability, banks like Access Bank and United Bank for…

Deposit money banks (DMBs) accessed an accumulated value of N4.4 trillion from the Central Bank of Nigeria (CBN) through its overnight lending window from June to August, data sourced from the regulator suggested. Banks regularly access the CBN’s Standard Lending Facility (SLF) to…

As Nigeria continue to grapple with economic challenges, the equities market has maintained a downward slide with investors’ wealth dwinddling by a whopping  N1.69 trillion in just three months. THISDAY analysis of market activity from June to August 2022 revealed that for the month…

The World Bank Group President, David Malpass, has said that the bank is ready to support Nigeria in phasing out regressive fuel subsidies while increasing social assistance for the poor and vulnerable. He also stressed the need for a unified exchange rate in…

Fidelity Bank Plc has announced its proposed acquisition of a 100% equity stake in Union Bank Plc in the United Kingdom. In a corporate filing on the Nigerian Exchange Limited on Tuesday, Fidelity Bank said the Central Bank of Nigeria had issued ‘No…

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has urged the trade associations and merchants to take advantage of the numerous benefits provided by the Central Bank Digital Currency (CBDC) also known as eNaira to promote and grow…