Home » Money

Money

Wema Financial institution builds coaching faculty

Wema Bank

By Collins Nweze   Wema Financial institution has constructed a brand new coaching faculty, Wema Purple Academy, to supply high quality coaching for employees members in addition to an area for innovators to collaborate. Wema Purple Academy, previously at Oba-Akran, Ikeja, is now situated at City Planning Method, Ilupeju, Lagos and serves as a pathway for brand spanking new workers …

Read More »

Senate passes BOFIA – The Nation Nigeria Information

Senate passes BOFIA The Nation Nigeria News - Senate passes BOFIA - The Nation Nigeria Information

From Nduka Chiejina, Abuja (Assistant Editor) and Collins Nweze   The Senate yesterday, handed the Banks and Different Monetary Establishments Act (BOFIA) and gave the Central Financial institution of Nigeria (CBN) powers to license, supervise and revoke licenses of monetary establishments. Nevertheless, for the BOFIA) CAP B3 Legal guidelines of the Federation of Nigeria 2004 (Modification) Invoice, 2020, handed by …

Read More »

‘Banking entry, family earnings dip in COVID-19 period’

Banking access household earnings dip in COVID 19 era’ - ‘Banking entry, family earnings dip in COVID-19 period’

A survey by FinMark Belief, by means of the i2i initiative, in partnership with Enhancing Monetary Innovation & Entry (EFInA), has revealed that some households are starting to expertise lowered earnings, decrease meals consumption, and lowered entry to monetary and well being providers following the onset of the COVID-19 pandemic and associated lockdowns, writes COLLINS NWEZE. The i2i initiative and …

Read More »

Moody’s affirms Afreximbank’s Baa1 Credit score Ranking

Afreximbank

By Collins Nweze   African Export-Import Financial institution (Afreximbank) has introduced that the worldwide credit score scores company Moody’s, on July 14 has affirmed the financial institution’s long-term credit standing at Baa1, with a secure outlook. The company determines its score for supranationals based mostly on three standards: capital adequacy, liquidity, and funding and power of member help. Moody’s notes …

Read More »

Jaiz Financial institution pays shareholders N884m maiden dividends

Jaiz Bank grows profit by 134%

From Nduka Chiejina (Assistant Editor)   Shareholders of Jaiz Financial institution Plc, will obtain their first ever dividend fee for the reason that financial institution started operation. Shareholders of Jaiz Financial institution  yesterday accepted the financial institution’s proposed dividend fee out of N0.03 kobo per 50 kobo odd share N884 million) for the 12 months ended 2019. At its eighth Annual …

Read More »

NDIC proposes stiff penalties for administrators of failed banks

Nigeria Deposit Insurance Corporation (NDIC)

From Moses Emorinken, Abuja   The Nigeria Deposit Insurance coverage Company (NDIC) yesterday proposed stiff penalties for negligent administrators of failed banks. It stated this may function a deterrent to officers and administrators of banks, and be certain that the banking business ensures compliance with legal guidelines and regulation. The company additionally proposed the specific prohibition of insider loans/criminalising insider …

Read More »

CRC Credit score Bureau appoints new chair, deputy

CRC Credit Bureau Olusegun Alebiosu

Collins Nweze The Board of CRC Credit score Bureau Restricted has appointed Olusegun Alebiosu as its new Chairman and Mrs. Olajumoke Odulaja as Vice Chairman. Alebiosu replaces Greg Jobome, who has accomplished his tenure. He joined the Board of CRC in 2016 as FirstBank consultant. Alebiousu is the Chief Danger Officer, FirstBank of Nigeria. Previous to becoming a member of …

Read More »

Keystone Financial institution to MSMEs: embrace digitalisation

Keystone Bank to MSMEs embrace digitalisation - Keystone Financial institution to MSMEs: embrace digitalisation

Collins Nweze Keystone Financial institution Restricted has suggested Micro, Small and Medium Enterprises (MSMEs) homeowners to develop their gross sales utilizing digital instruments. The financial institution acknowledged this throughout   a  capability constructing initiative  for MSMEs homeowners in Lagos. The coaching, tagged: “Increase With Fb Digital Advertising Webinar Sequence,” was organised by the financial institution in partnership with Fb through its …

Read More »

Mortgage defaulters’ accounts debit takes off August 1

Loan defaulters’ accounts debit takes off August 1 - Mortgage defaulters’ accounts debit takes off August 1

Collins Nweze The Central Financial institution of Nigeria (CBN) has directed banks and different monetary establishments to start out debiting accounts of persistent mortgage defaulters from August 1. The brand new CBN mortgage restoration coverage signifies that mortgage defaulters who’ve funds in accounts throughout any financial institution in Nigeria ought to count on debit alert from their banks from the …

Read More »

Coronation Analysis to unveil report on funding

Coronation Research

Coronation Analysis is publishing  its report on funding to deepen traders understanding of alternatives within the economic system. The report, entitled: ‘Navigating the Capital Market: the Investor’s Dilemma’, studied the funding scene over  10 years and finds how Nigerians have managed to protect their capital over the long run. A few of the points embody why it has been simple …

Read More »

Entry Financial institution launches self-service USSD to curb fraud

Access Bank launches self service USSD to curb fraud - Entry Financial institution launches self-service USSD to curb fraud

By Collins Nweze Entry Financial institution Plc has launched Unstructured Supplementary Service Knowledge (USSD) code *901*911#. The code permits clients deactivate their USSD profile as soon as their cell units get misplaced or stolen. That is consistent with the financial institution’s dedication to safeguard the investments and financial savings of shoppers. This self-service allows customers to deactivate their accounts utilizing …

Read More »

BUA Cement to ascertain three million tonnes plant in Adamawa

BUA Cement to establish three million tonnes plant in Adamawa - BUA Cement to ascertain three million tonnes plant in Adamawa

By Collins Nweze BUA Cement plans to ascertain a three-million metric tonne cement plant and 50 megawatts energy plant in Guyuk and Lamurde native governments of Adamawa State. Chairman, BUA Group, Alhaji Abdul Samad Rabiu, said the readiness of the group when he led the administration of BUA Cement on a courtesy go to to the Adamawa State Governor, Ahmadu …

Read More »

TAJBank unveils product – The Nation Nigeria Information

TAJXpress

By Collins Nweze   TAJBank has launched TAJXpress to spice up monetary inclusion. This features a digital pockets, *898# USSD code, 360-degree account onboarding by means of cell and web banking platforms along with 10,000 brokers unfold throughout the Northeast and Northwest. Its Chief Working Officer, Hamid Joda, famous: “Presently, statistics on monetary inclusion are daunting. In a inhabitants of …

Read More »

FirstBank’s e-learning for 1m college students

FirstBank

By Collins Nweze   FirstBank is supporting about 1.5 billion kids throughout the globe who’ve been pressured to remain at house to include the pandemic. With the indefinite closure of colleges, FirstBank is enabling the training of 1 million college students by means of an revolutionary eLearning answer, which is able to drive sustainable efforts in the direction of enhancing …

Read More »

FCMB secures $50m IFC mortgage for SMEs

By Collins Nweze   Worldwide Finance Company, a member of the World Financial institution Group, has  authorised $50 million mortgage for First Metropolis Monument Financial institution (FCMB) Restricted to assist it broaden lending to small and medium enterprises (SMEs). The mortgage is to allow SMEs maintain companies disrupted by the COVID-19 pandemic. The mortgage, made via IFC’s COVID-19 fast-track financing …

Read More »

‘Virus pandemic will result in higher enterprise ethics’

Virus pandemic will lead to better business ethics’ - ‘Virus pandemic will result in higher enterprise ethics’

By Collins Nweze   As  companies begin to look past the COVID-19 disaster, the Ernst & Younger (EY) International Integrity Report stated the pandemic will result in improved enterprise ethics. The findings are a part of a survey of virtually 3,000 respondents from 33 nations, together with Nigeria, as much as February, this yr, analysing the moral challenges companies face …

Read More »

Ecobank extends zero cost for cash transfers

Ecobank

By Collins Nweze   Ecobank has prolonged its zero cost for digital cash transfers beneath N5,000 until the tip of September. Along with the free cost, customers of Ecobank Cellular, Ecobank On-line, and USSD – Ecobank *326#  will get pleasure from zero cost for digital cash transfers beneath N5,000. New prospects also can profit from this by opening an Xpress …

Read More »