17 h. ago $1trn economy: CBN insists banking sector essential to power Nigeria’s growth

…says investors responding to FX stability Abuja|| As the race for bank recapitalisation intensifies, the Central Bank of Nigeria (CBN) read more $1trn economy: CBN insists banking sector essential to power Nigeria’s growth

Politics

5 d. ago Senate S’East caucus, Kalu, Uzodimma mourn former Diamond Bank chairman, Dozie

•Ex-Abia gov describes him as statesman From Adesuwa Tsan, Abuja The South East caucus in the Senate has expressed deep sorrow over the passing of the  former chairman of Diamond Bank and a prominent figure in Nigeria’s financial sector, Dr. Pascal Dozie. In a statement by the chairman of the caucus, yesterday, Sen Enyinnaya Abaribe, […] The post Senate S’East caucus, Kalu, Uzodimma mourn former Diamond Bank chairman, Dozie appeared first on The Sun Nigeria.

Politics

6 d. ago Pascal Dozie: A life of banking success, entrepreneurial triumph

Bankers, business moguls, others pay glowing tributes   By Merit Ibe and Chinwendu Obienyi Pascal Dozie, a towering figure in Nigeria’s banking sector and entrepreneurial spheres, passed on yesterday, an eve to his 86th birthday. The Founder of the defunct Diamond Bank Plc (which has merged with Access Bank) and a former chairman of MTN […] The post Pascal Dozie: A life of banking success, entrepreneurial triumph appeared first on The Sun Nigeria.

Politics

6 d. ago Banking sector credit to private sector declines amid CBN’s tight liquidity measures

Credit extended by the banking sector to the private sector declined by 1.3 percent month-on-month and 8.6 percent year-on-year in read more Banking sector credit to private sector declines amid CBN’s tight liquidity measures

Politics

1 week ago Sterling Bank champions removal of transfer fees in banking sector

In a landmark move that sets a new benchmark for customer-focused banking in Nigeria, Sterling Bank has championed the cancellation read more Sterling Bank champions removal of transfer fees in banking sector

Politics

1 week ago Tope Dare at 50: Celebrating a legacy of innovation in Africa’s digital banking sector

Tope Dare, a key figure in Africa’s digital banking sector, turns 50 years old on Wednesday. Over the years, he read more Tope Dare at 50: Celebrating a legacy of innovation in Africa’s digital banking sector

Politics

1 week ago LCCI seeks transparent disbursement of $500m World Bank loan

The Lagos Chamber of Commerce and Industry (LCCI), has called for a transparent and efficient disbursement mechanism of the fresh read more LCCI seeks transparent disbursement of $500m World Bank loan

Politics

2 w. ago More private placement exercise characterise recapitalisation

Tribune Online More private placement exercise characterise recapitalisation THE recapitalisation process in Nigeria’s banking sector has been marked by a surge in private placement exercises, as financial institutions seek to inject fresh capital to bolster their balance sheets and comply with regulatory requirements. This trend underscores the determination of Nigerian banks to strengthen their capital base, enhance their risk-absorbing capacity, and position themselves […] More private placement exercise characterise recapitalisation Tribune Online

Politics

2 w. ago Sound regulatory oversight keeps banking sector strong —Cardoso

Tribune Online Sound regulatory oversight keeps banking sector strong —Cardoso THE Nigerian banking sector has demonstrated remarkable resilience and stability, thanks to the effective regulatory oversight provided by the Central Bank of Nigeria (CBN) and other relevant authorities, according to a recent assertion by the CBN governor, Olayemi Cardoso. By maintaining a robust regulatory framework, the authorities have been able to mitigate potential risks, ensure […] Sound regulatory oversight keeps banking sector strong —Cardoso Tribune Online

Politics

2 w. ago Cardoso champions gender equity as women hold 35% of CBN’s director positions

From Adanna Nnamani, Abuja In a landmark development for gender representation in Nigeria’s banking sector, the Central Bank of Nigeria (CBN) has disclosed that women now constitute 35 percent of its  directors and half of its Non-Executive Board. This, according to the apex bank, indicate  a strategic push towards gender-balanced leadership under Governor Olayemi Cardoso.  […] The post Cardoso champions gender equity as women hold 35% of CBN’s director positions appeared first on The Sun Nigeria.

Politics

3 w. ago New Head Office: FirstBank Reinforces Commitment To Innovation, Economic Growth

First Bank of Nigeria, Nigeria’s oldest financial institution, has embarked on an ambitious project to construct a cutting-edge head office in Eko Atlantic City. The project has been described as a laudable one by industry stakeholders. Experts believe this move will strengthen the bank’s leadership in Nigeria’s financial sector and reinforce its commitment to innovation, […]

Politics

3 w. ago Debate rages over proposed Bank of Agriculture recapitalisation

From Okwe Obi The federal government’s planned recapitalisation of the Bank of Agriculture (BOA) has sharply divided experts in the food sector. While some have lauded the initiative, others describe it as another political statement. Two weeks ago, Minister of State for Agriculture and Food Security, Abdullahi Sabi, announced the move when he received the […] The post Debate rages over proposed Bank of Agriculture recapitalisation appeared first on The Sun Nigeria.

Politics

3 w. ago Five Nigerian banks make progress in recapitalisation efforts

Tribune Online Five Nigerian banks make progress in recapitalisation efforts FIVE major Nigerian banks have made progress in their recapitalization efforts, moving closer to meeting the Central Bank of Nigeria’s (CBN’s) minimum capital requirements. The banks have ramped up fundraising initiatives to strengthen their financial positions, boosting investor confidence and reinforcing stability in the banking sector. FirstHoldCo, the parent company of FirstBank, recently concluded its […] Five Nigerian banks make progress in recapitalisation efforts Tribune Online

Politics

3 w. ago Assets size of top ten Nigerian banks surge to record N219.46trn in 9 months

Tribune Online Assets size of top ten Nigerian banks surge to record N219.46trn in 9 months Nigeria’s leading banks have experienced a remarkable surge in their asset base, reaching N219.46 trillion in the first nine months of 2024, ahead of their year-end financial statements. This substantial increase from nearly N150 trillion across the country’s 26 commercial banks in 2023 underscores the banking sector’s robust growth and resilience. This asset expansion highlights […] Assets size of top ten Nigerian banks surge to record N219.46trn in 9 months Tribune Online

Politics

3 w. ago Banking stocks drive financial sector to N9.49tn market value

The financial services sector on the Nigerian Exchange closed with a total market capitalisation of N9.49tn, driven by performances from banking stocks, particularly Guaranty Trust Holding Company Plc, Zenith Bank Plc, and Access Holdings Plc. Guaranty Trust Holding Company Plc emerged as the most valuable financial institution, with a market capitalisation of N2.07tn, trading at Read More

Politics

3 w. ago Policymakers eye economic growth with bank recapitalisation, forex reforms

Economic decision-makers are optimistic about the prospect of significant growth as financial sector regulators rally support for bank recapitalisation and foreign exchange reforms, writes FELIX OLOYEDE When President Bola Tinubu was sworn in in 2023, he expressed his ambition to grow the economy within the next eight years. Economic decision-makers also projected the economy can Read More

Politics