Incoming BOE governor says virus needs collective U.K. action

March 4, 2020

The Bank of England needs to work collectively with the government to offset the impact that the coronavirus outbreak is having on supply chains, according to incoming governor Andrew Bailey. Bailey, who takes over at the BOE on March 16, told U.K. lawmakers at his appointment hearing on Wednesday that the bank needs to be […]

UBA’s 2019 result sees earnings, assets cross N500bn, N5trn first time

March 3, 2020

By Omobayo Azeez   All headline numbers up Profit hits N111bn‭ ‬   The gross earnings and total assets of Nigeria headquartered pan-African financial supermart, United Bank for Africa (UBA) Plc, for the first time in its history, crossed the psychological market sensitive marks of N500 billion and N5 trillion respectively as the bank turned […]

Experts uphold tech-driven solutions for financial inclusion

February 27, 2020

By Omobayo Azeez   Financial experts have reiterated the need to adopt tech-driven strategies to achieve financial inclusion drive in Nigeria. Speaking during a panel session and masterclass championed by Stanbic IBTC Holdings Plc at the ongoing Social Media Week (SMW) Lagos on Wednesday, the experts drawn from financial and technology sectors upheld that digital […]

IMF MD taps Liberia’s Sayeh for DMD

February 27, 2020

Kristalina Georgieva, the managing director of the International Monetary Fund (IMF), has proposed the appointment of Liberia’s Antoinette Sayeh as a deputy managing director, effective March 16, 2020. The appointment is subject to approval by the IMF’s Executive Board. In announcing her selection of Sayeh, Georgieva said: “We are welcoming back a dear friend and […]

Taxaide introduces new technology to aid tax compliance, data protection

February 26, 2020

Ahead of the March 30 deadline for personal income tax (PIT) returns, Taxaide, a leading tax management and technology firm, has unveiled technological tools aimed at enhancing a more effective tax administration for Nigerians and tax authorities. Bidemi Olumide, CEO of Taxaide, said the firm, through its technology development subsidiary, Taxtech, produced PITApp® to serve […]

Zenith Bank posts N209bn profit in 2019

February 24, 2020

By Omobayo Azeez Nigeria’s commercial institution, Zenith Bank Plc, has reported a 7.9 per cent increase in its profit after tax (PAT) to N209 billion from N193 billion in 2018. The profit before tax (PBT) of the financial institution also surged by 5 per cent from to hit N243 billion in 2019 from N232 billion […]

CBN reclaims over N60bn illegal bank charges for customers

February 20, 2020

CBN reclaims over N60bn illegal banks charges for customers

From Announced plans to create 10m jobs in five years Omobayo Azeez The Central Bank of Nigeria has said that it had refunded over N60 billion to customers who were wrongly charged by banks. Isaac Okoroafor, the apex bank’s director of corporate communications, made the disclosure during two-day customers’ sensitisation forum in Owerri, the Imo State […]

Fidelity Bank grows asset 23% to N2.12trn

February 5, 2020

By Omobayo Azeez   Within a period of 1w months spanning December 2018 to December 2019, to asset value of Fidelity Bank Plc has grown by 23.25 per cent from N1.72 trillion to N2.12 trillion. This financial institution disclosed this, among other facts, in a condensed unaudited financial statements for the year ended December 31, […]

Global digital payments could reach N4.7trn in 2020, research shows

Adesola AfolabiJanuary 28, 2020

  The total global value of payments for goods and services without the use of cash, credit, debit or prepaid cards is being projected to hit a record high of $4.7 trillion in 2020.   This is according to research carried out by Learnbonds with data from Statista, a global statistics portal. It revealed that worldwide digital […]