Finance

In the first six months of this year, Nigeria’s commercial banks made a refund to bank customers to the tune of N89.2 billion on account of complaints received.   Godwin Emefeile, the CBN Governor, represented by Osita Nwanisobi, acting director, department of corporate communications, disclosed this at a CBN fair held simultaneously in Akwa Ibom […]

cBN GOVERThe Central Bank of Nigeria (CBN) has set a non-refundable N1 million as the minimum paid-up capital requirement for the licensing of a Payments Service Holding Company (PSHC), while six months after the acquisition of Approval-in-Principle from the CBN, the promoters of a PSHC shall submit an application for the granting of final license […]

  PBT=N26.3bn; PAT=N22.5bn down 5.5% EPS down N0.05 to N0.62   FBN Holdings, the parent company of First Bank of Nigeria Limited, has made a strong bounce back in its financial performance for the second quarter, from a coronavirus pandemic, which crippled activities in 2020. The Tier-1 financial holding company filed its second quarter 2021 […]

Nigeria has withdrawn its membership of the Maritime Organisation for West and Central Africa (MOWCA) following strong reservation over the organisation’s disregard for the rules of procedure regarding the eligibility of candidates nominated for the position of secretary-general. According to a statement issued by Eric Ojiekwe, director of press and public relations in the Federal […]

Kuda, Nigeria’s first fully digital bank, has raised $55 million in a Series B funding round to fuel its expansion outside the country.   The latest funding round by the Nigerian-operating startup that offers a mobile-first, personalised and often cheaper set of banking services built on newer, API-based infrastructure, was an inside round coming from […]