NIBBS data show Nigerian banks cleared cheques with value of N246.62bn in May
Charles Abuede
June 30, 2021
The latest set of data released by the Nigerian Interbank Settlement System (NIBSS) Plc, has shown that cheques valued at N246.62 billion were cleared by Nigeria’s deposit money banks (DMBs) in the month of May. The figure is N2.92 billion ahead of the N243.7 billion cleared by the DMBs in the previous month of April. […]
Agusto & Co. sees 400 MfBs in Nigeria on recapitalisation failure
Charles AbuedeJune 30, 2021
CBN reports say total MFB assets stands at N1.01trn by end 2020 Agusto & Co., indigenous research and credit rating firm, has stated it expects Nigeria’s microfinance industry to outperform its 2020 rally, supported by the global roll-out of COVID-19 vaccines, accelerated digital transformation of microfinance banks and businesses in general, the renewed […]
CBN targets robust, inclusive, actionable national FinTech strategy
Onome AmugeJune 30, 2021
Tasks finance stakeholders on efficient strategy Aishah Ahmad, deputy governor, financial system stability, Central Bank of Nigeria (CBN), has enjoined stakeholders in the financial sector to embrace the development of a robust, inclusive and actionable national FinTech strategy that is fit-for-purpose. Ahmad, who gave the charge recently at the kick-off of a […]
African Banker Awards 2021: Wigwe is Banker of the Year; Standard Bank Group is Bank of the Year
Charles AbuedeJune 28, 2021
Wigwe wins award twice in a row Ecobank, FBNQuest Merchant Bank recognised in top categories Herbert Wigwe, group managing director and chief executive officer of Access Bank, has been named African Banker of the Year at the 2021 African Banker awards. It is the second year in a row the Access Bank group […]
Wigwe, Access Bank CEO, named African Banker 2021
Charles AbuedeJune 25, 2021
Ecobank, FBNQuest Merchant Bank winners too Nigerian banker and group chief executive officer of Access Bank, Herbert Wigwe, has been named African Banker of the Year at the 2021 African Banker awards. It was the second consecutive year the Access Bank CEO was winning the award, having been named winner in 2020. Wigwe […]
Domestic Equities: Analysts expect more bearish sessions after halt to bullish trend
Charles AbuedeJune 22, 2021
More bearish sessions are expected on the local equities market this week after a total of N266 billion was lost last week by investors while trading on the Nigerian Exchange (NGX). According to market analysts at Afrinvest Securities Limited, “We expect to see some bargain hunting in early trades as investors seek to take a […]
Lotus Bank obtains non-interest banking licence from CBN
Charles AbuedeJune 22, 2021
Lotus Bank, a non-interest Nigerian bank deeply rooted in ethical banking, has obtained a non-interest banking operating licence from the Central Bank of Nigeria. According to a statement by the apex bank, Lotus Bank seeks to create value and growth through innovation in Nigeria. “Lotus Bank seeks to pursue the mission of creating value and […]
World Economic Forum kicks off first African CFR for SDGs in Ghana
Ben EguzozieJune 16, 2021
Country Financing Roadmap aims to increase private investments Nation first in Africa to launch Country Financing Roadmap To benefit $431.6bn financing gap to meet SDGs Once again, Nigeria was left in the lurch by the World Economic Forum (WEF) to pick its West African neighbour Ghana, as the launch area of the first Country […]
Covid-19: World Bank, African Union agree modalities to deploy 400m J&J vaccine in Africa
Ben EguzozieJune 16, 2021
Nigeria, 54 others assured they can access, finance vaccines they need The President of the World Bank, David Malpass, and his senior management team comprising Axel van Trotsenburg and Makhtar Diop met with the African Union’s Covid-19 Vaccine Acquisition Task Team (AVATT) to discuss modalities for a partnership that will accelerate deployment of […]
Tepid trading across markets as Naira’s street cred above N500
Charles AbuedeJune 16, 2021
Bubbling activity levels seen this week with improved liquidity across FI space Analysts anticipate Naira to gain strength against dollar with higher oil prices Sentiment was largely mixed in the fixed income market last week as bond participants were relatively quiet; OMO participants were buy-side driven, while NTB participants were sell-side driven. Regardless, analysts […]