A United Kingdom-based financial watchdog, Financial Conduct Authority (FCA), has fined the British subsidiary of Nigeria’s Guaranty Trust Bank £7.6 million ($9.3 million) over weak money laundering control system. The FCA in a statement on Tuesday said the bank failed in its anti-money laundering systems and controls. It stated that …
Read More »ADEDUNTAN: BANKS, CUSTOMERS MUST APPROACH 2023 WITH PARTNERSHIP MINDSET
The Managing Director/Chief Executive Officer of First Bank Nigeria Limited, Dr. Adesola Adeduntan, in this interview with THISDAY reviewed the performance of the global economy in 2022 and advised businesses and their bankers to approach 2023 with a partnership mindset to ensure that a win-win outcome is achieved despite the …
Read More »UBA Announces Availability of New Naira Notes at ATMs
United Bank for Africa (UBA) Plc has announced that Nigerians can now get the new Naira notes at its Automated Teller Machines (ATMs) across the country. In a message to its customers on Sunday, the financial institution stressed that the withdrawal limit via this channel is N100,000. Recall that at …
Read More »Stanbic IBTC Capital named Best Investment Bank in Nigeria at the EMEA Finance African Banking Awards 2022.
Stanbic IBTC Capital, the investment banking subsidiary of Stanbic IBTC Holdings PLC, won four awards at the recently concluded EMEA Finance African Banking Awards 2022. For the 8th consecutive year, Stanbic IBTC Capital was named Best Investment Bank in Nigeria. Stanbic IBTC Capital also won awards for Best Debt House, …
Read More »Access Bank Lagos City Marathon 2023 To Witness Over 60,000 Runners In The Elite Label Race
This year’s edition of the Access Bank Lagos City Marathon is set to witness over 60,000 runners on the Lagos roads to compete for honours in the Elite Label race, as the status of the Lagos City Marathon rises. Speaking on the annual event, the General Manager Nilayo Sports Management …
Read More »CBN plans regulatory framework for cryptocurrencies
Emefiele, CBN governor The Central Bank of Nigeria (CBN) has said it will come up with a regulatory policy framework for the implementation of cryptocurrencies. The CBN which had earlier banned crypto-related transactions in the banking system, disclosed this in a report on ‘Nigeria payments system vision 2025’. It said, …
Read More »WHY THE 2022 EDITION OF DECEMBERISSAVYBE BY FIRSTBANK WASN’T JUST ABOUT THE EXCITEMENT BUT MEMORIES
By Farouk Mohammed The 2022 edition of “#DecemberIssaVybe” by FirstBank, Nigeria’s premier financial institution, has stood the test of time as it yet again created exciting opportunities for individuals and families to come together to celebrate the end of the year. The listed events promoted by the Bank birthed memories …
Read More »Let’s Seek Divine Guidance for Peace in 2023, Archbishop Martins urges Nigerians
…Says peace crucial to ensure rapid progress By Tony Agbugba The Catholic Archbishop of Lagos, Most Rev. Alfred Adewale Martins has urged all Nigerians to seek divine guidance in the quest for peace in 2023, to ensure that the New Year is free from chaos and anarchy. According to the …
Read More »Stanbic IBTC Bank Nigeria PMI: Output prices rise at second-fastest pace on record
Customer demand improved again in the Nigerian private sector at the end of 2022, supporting further rapid increases in both new orders and business activity. In turn, firms took on additional staff, albeit only slightly. Meanwhile, currency weakness continued to exacerbate cost pressures, subsequently feeding through to the second-fastest …
Read More »WEMA Bank Plc announces CEO Retirement and Appointment of new MD/CEO
LAGOS, NIGERIA – 30th December 2022 – Wema Bank PLC (Bloomberg: Wema NL) (“Wema” or “the Bank”) announces retirement of its Managing Director/CEO. · Managing Director/CEO Ademola Adebise to retire from Wema Bank Plc; with effect from March 31, 2023. · Moruf Oseni, current Deputy Managing Director appointed as …
Read More »