Access Holdings chairman bullish about raising $300m new capital
Post AMUGE
April 23, 2024
Our shareholders have mind set on recapitalisation Has over 800,000 shareholders In 2024 Access Holdings is much older, wiser, stronger, larger Is significantly respected by the capital market PHILLIP ISAKPA IN STOCKPORT, UK Aigboje Aig-Imoukhuede, the newly elected chairman of Access Holdings Plc, who chaired his first meeting of shareholders over the weekend, is […]
Adeduntan leaves after 9-years leading Nigeria’s oldest bank
Post AMUGEApril 22, 2024
Business a.m. Adesola Adeduntan Adesola Kazeem Adeduntan left First Bank of Nigeria Limited, Nigeria’s oldest banking institution, which he led for nine years as managing director and chief executive officer. His retirement from his position followed an illustrious journey marked by exemplary leadership and innovative financial solutions to reposition the bank as an enviable financial […]
Alebiosu, banking veteran, replaces Adeduntan as First Bank MD/CEO
Post AMUGEApril 22, 2024
Olusegun Alebiosu, acting managing director/CEO, First Bank Nigeria Limited Onome Amuge First Bank of Nigeria Limited has appointed Olusegun Alebiosu as its acting managing director with immediate effect, following the abrupt resignation of Adesola Adeduntan who had served as the managing director/CEO of the premier bank. The bank informed the Nigerian Exchange Limited and the […]
Access Holdings’ shareholders endorse $1.5bn capital raising drive with unanimous backing
Post AMUGEApril 19, 2024
Applaud Aig-Imoukhuede’s homecoming as chairman to drive financial success Onome Amuge Access Holdings Plc shareholders turned out in full force at the company’s 2nd annual general meeting, showering the group with an overwhelming vote of confidence in its ambitious plans to raise up to $1.5 billion in capital. The shareholders not only backed the […]
CBN eases loan restrictions 15% to curb inflationary pressure on banks
Post AMUGEApril 18, 2024
Business a.m. The Central Bank of Nigeria (CBN) has introduced a policy change aimed at tightening the country’s monetary framework. The new measure reduces the Loan-to-Deposit Ratio (LDR) from 65 per cent to 50 per cent, an indication that deposit money banks (DMBs) will now be required to limit their lending activity to a maximum […]
Nigeria’s FUGAZ banks navigate 2023 headwinds with N9.6trn gross earnings
Post AMUGEApril 15, 2024
ONOME AMUGE Nigeria’s banking sector, navigating through a perfect storm of economic headwinds, steered a very profitable course and rewarded their shareholders with impressive returns in the 2023 financial year, according to a review of the reports turned in by the country’s biggest banks in the last few weeks. The year 2023 marked a pivotal […]
Bank recapitalisation: Financial experts, economists, development analysts weigh in
Post AMUGEApril 9, 2024
Requires dilution of strong ownership structure Possibly to drive innovation Lenders to comb the ‘streets’ in search of investors BEN EGUZOZIE Financial experts, economists and development analysts are continuing to weigh in on the ‘way-to-go’ and ‘success rate’ of how banks in Nigeria would come through on the recapitalisation announced by the Central […]
CBN triggers new round of banking consolidation with N500bn capital base
Post AMUGEApril 1, 2024
Onome Amuge A new round of banking industry consolidation in Nigeria that will see serious boardroom talks in the next two years has been triggered by the Central Bank of Nigeria (CBN) whose Easter 2024 gift to banks was the raising of their minimum capital requirement to N500 billion for those of them with international […]
CBN sets N500bn capital base for commercial banks with international authorisation
Post AMUGEMarch 29, 2024
Business a.m The Central Bank of Nigeria (CBN) has released new minimum capital requirements for banks, requiring commercial banks with international authorisation to have a minimum capital base of N500bn. The new capital requirements are part of the CBN’s efforts to strengthen the banking sector and ensure that banks are well-capitalised to meet the needs […]
CBN jerks up benchmark interest rate to record-high 24.75% to tame inflation
Post AMUGEMarch 26, 2024
Business a.m The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has raised the benchmark interest rate by 200 basis points to a record high 24.75 per cent, in what is considered one of its most aggressive actions to tame inflation which has been spiraling out of control in recent months. Olayemi Cardoso, […]