Fidelity Bank sees H1 2018 post tax profit grow by 31% to N11.8bn

Fidelity Bank Plc. Wednesday released its half year financials for the period ending 30th June 2018, recording a 31 percent increase in profit after tax. The lender grew it’s post tax profit to N11.8 billion from N9.0 billion recorded in the same period of 2017, on account of a four percent growth in gross earnings […]

Nigeria’s senior bankers, insurers praise central bank’s takeover of Skye Bank, urges best practice in sale process

Skye Bank, Insurers

The Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) praised the Central Bank of Nigeria (CBN) on Wednesday over the revocation of the operating license of Skye Bank. The union said the N786 billion injection by the apex bank, which birthed Polaris Bank, is a courageous move at ensuring the efficiency of […]

Heritage Bank seeks sustained collaboration between banks, fintechs on financial inclusion

Heritage Bank

Heritage Bank Plc has stressed the need for sustained collaboration between banks and financial technology companies (fintechs), to support Central Bank of Nigeria’s (CBN) drive for financial inclusion and promote economic growth. Ifie Sekibo, managing director of Heritage Bank, said this while delivering a goodwill message at the 2018 annual national conference of the Finance […]

States lack sustainable fiscal plan, BudgIT

Budgit

BudgIT, a social advocacy group, in a recent analysis of the fiscal condition of states, says Nigerian state governments lack sustainable fiscal plan. It noted that “it was critical that state governments embrace a high level of transparency and accountability, develop workable economic plans, take haircuts, especially on overheads, expand their internally generated revenue (IGR) base, […]