CBN to rename forex market amidst economic shifts
In a move to reframe the financial landscape, the acting Governor of the Central Bank of Nigeria, Folashodun Shonubi, has unveiled plans…
Banking
All the news and updates from the banking sector; Access Bank, GTBank, First Bank, First City Monument Bank, United Bank of Africa etcs
CBN clamps down on banks over illegal FX sales
The Central Bank of Nigeria has warned to penalize commercial banks that sell foreign currency without authorization. This came after reports that…
eNaira balances hit N2.5bn in 2022
Nigeria’s central bank’s digital currency, the eNaira, saw a significant increase in total balances in 2022, reaching N2.5 billion. According to Nairametrics,…
CBN records $2.55bn FX inflows in two months after naira unification
The Central Bank of Nigeria revealed that foreign exchange inflows into the country increased to $2.55 billion in the two months following the…
Odubiyi acquires 100m shares of Sterling Holdco
The Group CEO of Sterling Financial Holdings Company Plc, Yemi Odubiyi, has acquired an additional 100 million shares in the company worth N354…
UBA hails customers, introduces benefits
The United Bank for Africa Plc, Africa’s Global Bank, has promised consumers a spectacular summer treat with the recent launch of exceptional…
Sterling Bank CEO acquires 50m additional shares
The chief executive officer of Sterling Bank, Abubakar Suleiman, has bought N168 million for 50 million shares of Sterling Financial Holdings Company Plc.…
CBN recovers $22m, N115bn excessive clients charges after customers complaint
The Central Bank of Nigeria announced that it had recovered $22.8 million and N115.5 billion for various charges that Deposit Money Banks…
Ecobank reveals progress in quest to create strategic roadmap
The Ecobank Group’s chief executive, Mr. Jeremy Awori, revealed that the company was making progress in creating its strategic roadmap and attributed…
Wema Bank records 109.57% profit increase in Q2 2023
Wema Bank announced its 2023 second-quarter results, revealing that pre-tax profits increased by 109.57% year on year, reaching N5.87 billion. According to…
Wema reports half year increase
Wema Bank said that its unaudited results for the six-month period ending June 30th, 2023, showed increased performance, including gross earnings of…
Wema reports half year increase
Wema Bank said that its unaudited results for the six-month period ending June 30th, 2023, showed increased performance, including gross earnings of…