CBN refunds N35m capital deposits to BDCs with pending applications

CBN refunds N35m capital deposits to BDCs with pending applications

After the decision of the banking sector regulator to immediately halt the sales of foreign exchange to bureau de change (BDC) operators and channel the weekly intervention to commercial banks in Nigeria, the Central Bank of Nigeria (CBN) has said it will begin the refund process of capital deposits and licensing fees to promoters who […]

Access Bank’s N30bn 7-year bond gets “A+” rating from Agusto & Co.

Access Bank’s N30bn 7-year bond gets “A+” rating from Agusto & Co.

Nigeria’s Tier-1 lender, Access Bank’s N30 billion 7-year 15.5 percent fixed rate subordinated unsecured bond due in 2026 has had its “A+” rating affirmed by Agusto & Co., the pan-African credit rating agency and a leading provider of industry research and knowledge in Nigeria and sub-Saharan Africa. The rating is a notch lower than Access […]

Correspondent banking training on for Nigerian, African bankers

Correspondent banking training on for Nigerian, African bankers

  As CBN says lenders in good shape   Nigerian lenders along with other financial institutions in Africa are to benefit from a training for African respondent banks to enhance their ability to obtain and maintain correspondent banking relationships. The African Export-Import Bank (Afreximbank) and the Bankers Association for Finance and Trade (BAFT) announced the […]

Chaka closes $1.5m pre-seed investment, eyes opportunities in Ghana, West Africa

Chaka closes $1.5m pre-seed investment, eyes opportunities in Ghana, West Africa

Barely a month after Chaka, Nigeria’s online investment and securities trading platform, obtained an operating licence as a digital sub-broker from the Securities and Exchange Commission (SEC), the company, in a strategic drive for expansion says it has closed its $1.5 million pre-seed round to power digital investments for individuals and businesses. The pre-seed round […]

After choppy H1, FSDH analysts say no improved sentiments in H2

After choppy H1, FSDH analysts say no improved sentiments in H2

Take advantage of dips in stock prices to‭ ‬position ahead of buying activities‭  ‬in‭  ‬H2 Non-banking stocks to sustain trade in the tight rage‭; ‬market‭ ‬to largely remain in a lull with spurts of bullish sentiment The Nigerian domestic equities market is projected to sustain a tight trading range in the second half of 2021 […]