UBA ups nine months PAT by 32.3% to N82bn

October 23, 2019

By Omobayo Azeez     Pan-African bank, the United Bank for Africa (UBA) Plc has reposted a growth of 32.3 per cent in its profit after tax (PAT) for the nine months ended September 30, 2019. The bank settled for the PAT, which stood at N81.7 billion at the end of the nine month operations […]

Buhari orders forensic audit of NDDC from 2001 to 2019

October 17, 2019

President Muhammadu Buhari has ordered a forensic audit of the operations of the Niger Delta Development Commission from 2001 to 2019. The decision followed persistent criticisms of the operations of the commission. A statement by Femi Adesia, the special adviser (media and publicity), said Buhari gave the directive after receiving governors of the states that […]

FCMB appoints Olufemi Badeji executive director

Chris IkosaOctober 7, 2019

Covid-19: FCMB to restructure half its loans on oil, virus

By Omobayo Azeez First City Monument Bank Group Plc (FCMB) has appointed Olufemi Badeji to the board as  eecutive directors in charge of corporate and investment banking. The appointment follows the approval by the Central Bank of Nigeria and it took effect from October 2, 2019, FCMB Group said in a corporate disclosure signed by […]

Poor ID mgt frustrating access to credit, says Heritage Bank’s Sekibo

October 1, 2019

By Omobayo Azeez     The managing director and chief executive officer of Heritage Bank, Ifie Sekibo, has stressed the need for the federal government to work towards creating a credible and strong identity management towards expanding access to credit in the country. Sekibo, noting that while the Bank Verification Number (BVN) has been able […]

Banks recorded N1.44tn non-performing loans Q2

September 30, 2019

The total non-performing loans in the banking sector stood at N1.44 trillion at the end of the second quarter of 2019. This is about 9.3 per cent of the total loans in the sector. Latest statistics revealed that the gross loans in the banking sector stood at N15.48 trillion in the period under review. The National Bureau […]

UBA, LCCI assure SMEs on value creation at 2019 Lagos Int’l trade fair

Adesola AfolabiSeptember 25, 2019

…promise foreign exchange hassle free transactions for merchants from other countries United Bank for Africa (UBA) Plc and the Lagos Chamber of Commerce and Industry(LCCI), have assured small medium enterprises (SMEs) that the 2019 Lagos International Trade Fair will bring far reaching benefits that will help transform their businesses and take it to the next […]

Credit Access: Poor identity management remains greatest barrier in Nigeria – Sekibo

Businessam StaffSeptember 22, 2019

Ifie Sekibo, the managing director of Heritage Bank, has identified poor identity management as the greatest hinderance to boosting access to credit, especially for small and medium enterprises, in Nigeria. Sekibo stated this while speaking as a guest at the Finance Correspondents Association of Nigeria (FICAN) annual conference which held on Saturday in Lagos. Represented […]

CBN grants three firms AIPs to operate as payment service banks

Businessam StaffSeptember 18, 2019

The Central Bank of Nigeria (CBN) has issued Approvals-in-Principle (AIP) to three Payment Service Banks (PSBs). The apex bank said the AIPs is in line with its objective of enhancing financial inclusion and the development of the payment system by increasing access to deposit products and payments services through a secured technology-driven environment. The three […]