Nigeria central bank issues revised cheques clearing rules effective Sept 1

Businessam StaffAugust 2, 2018

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

Adesola AfolabiAugust 2, 2018

UBA

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

Adesola AfolabiJuly 31, 2018

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

Businessam StaffJuly 27, 2018

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

Businessam StaffJuly 13, 2018

Citigroup

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

Adesola AfolabiMay 9, 2018

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 […]

Zenith Bank Nigeria introduces pounds sterling, Euro visa debit cards

Businessam StaffApril 12, 2018

Zenith Bank Nigeria Plc. is enhancing the ability of its customers to perform international transactions with the introduction of the Zenith Bank British Pounds and Euro Visa Debit Cards. The cards are designed to provide customers with more spend flexibility by enabling them to access their Pounds and Euro domiciliary accounts from anywhere in the […]