Phillips Consulting introduces Intellect Digital Core banking solution into Nigeria financial system

Phillips Consulting

Phillips Consulting Limited (PCL), leading management consulting firm, has announced the introduction of a cutting-edge technology, Intellect Digital Core banking solution into the Nigerian banking industry. A statement said the new solution would transform and revolutionise the Nigerian financial sector, adding that the feat was achieved in collaboration with Intellect Design Arena Limited, a global […]

WhatsApp banking: Path to financial inclusion in Nigeria?


The need to stay competitive and make financial servicing easily accessible to consumers has driven financial institutions across Africa such as United Bank for Africa, First Bank, Guaranty Trust Bank and Absa Bank in South Africa to leverage an ‘experienced’ partnership between WhatsApp and Clickatell- one of WhatsApp business solution providers. “These banks with the […]

Nigeria central bank issues revised cheques clearing rules effective Sept 1

Central Bank, Deputy Governor, CBN

The Central Bank of Nigeria (CBN) has set a 5-year timeline for banks to keep physical cheques presented by customers after which they may be disposed. The new rules become operational September 1, 2018 This was contained in the revised Nigerian Bankers’ Clearing System (NBCS) Rules released Wednesday. The apex bank explained that the policy […]

UBA’s chat banker, Leo, available on WhatsApp from September 1


United Bank of Africa’s (UBA) chat banker, Leo, is to become fully available to customers from September 1, 2018, the bank disclosed in a statement made available to business a.m.. Users of the WhatsApp who are customers of the bank, as well as potential customers, will upon becoming available on the chat platform be able […]

Nigeria’s Sterling Bank targeting economy’s growth sectors in H2 earnings pursuit

Sterling Bank

Sterling Bank, Nigeria’s mid-tier bank, is looking for earnings uptick in the growth sectors of the country’s economy, says Abubakar Suleiman, its managing director and chief executive officer. The bank will also, while looking for opportunities in the growth sectors, actively support special intervention and social investment programmes, Suleiman said. “Sterling Bank would continue to […]

Nigeria central bank deputy governor disowns fake e-mail address

Central Bank, Deputy Governor, CBN

Edward Lametek Adamu, deputy governor, corporate services at the Central Bank of Nigeria (CBN) has disowned an email purportedly belonging to him being used to transact phony business deals. A statement from the financial regulator stated that its attention has been drawn to the activities of fraudsters impersonating some its principal officers in an attempt […]

Citigroup sees earning rise in Q2 by 16% on reduced income tax


Citigroup, the third-largest US bank by assets has reported a 16 per cent profit in second quarter on Friday, as a result of lower taxes and higher revenue and in its consumer banking business in Mexico. The bank said it earned $4.49 billion, up from $3.87 billion a year ago. On a per-share basis, Citi […]

Nigeria non-interest bank, Jaiz Bank CEO explains reason for losses

Mallam Hassan Usman, CEO of Jaiz Bank Plc was at the Nigerian Stock Exchange on Wednesday to present the facts behind the bank’s recently released financial figures. Speaking specifically on the financial statements for the period ended Q1 March 31st 2018, wherein Profit after tax dropped 28 percent, Hassan pointed that major political activities such […]