Standard Chartered restates commitment to business growth with ACT workshop sponsorship
Businessam StaffFebruary 13, 2020
Adesola Afolabi Standard Chartered Bank (SCB) has re-emphasized its commitment to the growth of its clients in the business of finance. As main sponsor at the 2020 Association of Corporate Treasurers (ACT) workshop in Lagos earlier this month, the bank expressed some of its propositions and solutions to advance businesses. According to a statement from […]
Fidelity Bank grows asset 23% to N2.12trn
Omobayo AzeezFebruary 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 […]
Banks reconfigure ATMs to beat CBN’s reduction of charges
Businessam StaffJanuary 6, 2020
Some commercial banks have designed means to avoid the recent slash in charges on withdrawal from automated teller machines (ATM) by the Central Bank of Nigeria (CBN), investigations have shown. The central bank recently reduced the N65 charged on remote-on-us ATM after the third withdrawal in a month, to N35. Remote-on-us are transactions done by […]
Customers lament banks’ non-compliance with CBN’s guidelines on ATM charges
Businessam StaffJanuary 2, 2020
Some bank customers have frowned at their banks for not complying with the new guidelines for charges on automated teller machine, released by the Central Bank of Nigeria. Some of the customers who spoke in Abuja, regretted that banks had now devised a means of deducting ATM charges without sending the alert to their customers. CBN […]
Cashless: CBN introduces measures to promote e-payment
Businessam StaffDecember 31, 2019
By Omobayo Azeez As part of its efforts to realize gains of cashless policy in the country, the Central Bank of Nigeria (CBN) has introduced measures on pre-authorisation of card usage in the Nigerian electronic payment system. The apex bank stated in a circular on Monday that it had identified the predominant use of single […]
What AFDB is doing to impact the African continent
Businessam StaffDecember 26, 2019
The African Development Bank (AfDB) has, through its High 5s programme, supported the growth and impacted the development of the African continent, its President, Akinwumi Adesina, has said. Mr Adesina, who spoke at the Economic Community of West African States (ECOWAS) Summit in Abuja on Saturday, said through the programme, the AfDB has been able […]
CBN explains the reasons behind transaction charges reduction
Businessam StaffDecember 26, 2019
The Central Bank of Nigeria has reduced charges on current account and some other services. It stated that card maintenance fee on current account had been removed as the accounts already attracted account maintenance fee. The CBN clarified charges that depositors should know about their accounts with their lenders in its revised guide to charges […]
FirstBank promotes small businesses in fashion industry
Businessam StaffDecember 24, 2019
By Omobayo Azeez First Bank of Nigeria Limited has stimulated growth of small businesses through partnership and sponsorship of the recently held sixth edition of the Africa Fashion Week, Nigeria. The programmed, held in Lagos on Friday 20 and Saturday 21 of this month and themed ‘Africa Unites’, was a convergence of fashion entrepreneurs and the general […]
BREAKING: CBN slashes electronic transfer, ATM withdrawal, card maintenance charges
Businessam StaffDecember 22, 2019
The Central Bank of Nigeria (CBN) has reviewed downward electronic transfer and ATM fees as well as card maintenance fees. The new charges were contained in the latest Guide to Charges by Banks and Other Financial Institutions just released by the CBN. According to the CBN, bank customers will now pay N10 for electronic transfers […]