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CMB: Banks unlikely to post larger profits in 2019

Coronation Merchant Bank Limited (CMB) has predicted that commercial banks in the country will be unlikely to post large gains in profits this year.
The UK pound has continued to fall following the Brexit. AFP

Pound hits seven-week high on eve of vital Brexit vote

The British pound on Monday hit a seven-week high against the dollar as UK Prime Minister Theresa May delivered an upbeat speech on the eve of a key Brexit vote which she is expected to lose, dealers said.
NEM Insurance

VFD Group sells stake in NEM Insurance

VFD Group, a financial services firm, said it has sold its stake in NEM Insurance after talks with the board of the insurance firm about its vision broke down.

Expert calls for legislation reducing bank lending to politicians

Mr Samuel Nzekwe, former President, Association of National Accountants of Nigerian (ANAN), has called for introduction of legislation that would control bank lending to politicians to finance election campaigns.

Mike Adenuga closes gap with Aliko Dangote in Forbes billionaires ranking

Globacom Chairman Mike Adenuga Jnr, with interests in oil exploration and real estate has moved up, ranking next to Aliko Dangote as Africa’s second richest man.

Access Bank’s share price drops by 32 per cent

The share price of Access Bank Plc has declined by 32.52 per cent since the bank confirmed its plans to merge with Diamond Bank Plc.

Central bank to auction N908 billion treasury bills in Q1

The Central Bank of Nigeria (CBN) yesterday released its Treasury Bills Issuance Programme for the first quarter of 2019.

Keystone Bank floats first Zero Data Mobile App

Customers of Keystone Bank Limited can now transact banking services at their convenience on the new ‘Keystone Bank Mobile App’ with Zero Data.

Keystone Bank: We have no relationship with President Buhari or Atiku Abubakar

The management of Keystone Bank says it has no ties with President Muhammadu Buhari or former vice president Atiku Abubakar.

Central bank injects $210 million into foreign exchange market

The Central Bank of Nigeria (CBN) has sustained its intervention in the Inter-Bank Foreign Exchange Market by injecting 210 million dollars into the various segments of the market.

AfDB approves $14.12 million to facilitate Nigeria’s ATI membership

Soothing news came the way of Nigeria on Tuesday as the African Development Bank (AfDB), through its trade finance operations, has approved $14.12 million facility to support the Nigeria’s membership of African Trade Insurance (ATI) Agency.
Nigerian Stock Exchange NSE

NSE: Bears on rampage, market capitalisation loses N136bn

The bears at the Nigerian Stock Exchange (NSE) continued to dominate trading for the fifth trading days in 2019 with the crucial market indicators declining further by 1.20 per cent.

120,000 Kano rice farmers to benefit from Central bank’s anchor borrower programme

No fewer than 120, 000 rice farmers in Kano State would benefit from the Federal Government’s Anchor Borrower programme for this year’s dry season farming.

Women farmers want review of agric credit disbursement conditions

The Small-scale Women Farmers Organisation in Nigeria (SWOFON) on Tuesday appealed to the Federal Government and banks to review stringent conditions for farmers to access agricultural loans.
e-Payment - iStock

Nigeria’s e-payment transactions hit N56.85 trillion

Latest report from the Nigerian Interbank Settlement System (NIBSS), has shown that Nigeria’s electronic payment (e-payment) services, recorded transactions worth N56.85 trillion between January and end of September, 2018.
Iranian Rial and US Dollar

Iran mulls slashing four zeros from rial currency

Iran’s central bank has proposed slashing four zeros from the rial, following the plunging of the currency’s value in the wake of an economic crisis fuelled by U.S. sanctions.

Official: ‘Rate cutting’ threatens NAICOM’s 2020 N1 trillion premium target

The National Insurance Commission (NAICOM) on Saturday cautioned insurance operators against rate cutting in 2019.
Ernest Addison, Bank of Ghana Governor

Two more banks go down as Ghana completes sector cleanup

Ghana’s Central Bank on Saturday disclosed the revocation of the operating licences of two more banks, Premium Bank and Heritage Bank.

Recent Stories

Oil prices slip as U.S. crude output nears 12 million bpd

Oil prices fell on Thursday as U.S. crude production neared an unprecedented 12 million barrels per day (bpd) just as worries about weakening demand emerge.
nairobi attack

Sniffer dogs, bomb experts comb through Kenya attack site

Kenyan security forces on Thursday resumed their search of the hotel complex attacked by Islamists with sniffer dogs and bomb experts, as information emerged about one of the attackers who killed 21 people.
President Muhammadu Buhari has told supporters of the All Progressives Congress (APC) in Kogi state not to vote for any candidate from the Peoples Democratic Party (PDP) during the general elections.-14

APC takes re-election campaign to Jos

The Deputy Governor Plateau State Sonni Tyoden told reporters in Jos on Wednesday that the National Leader of the All Progressives Congress and Presidential Campaign Council Co-Chairman Asiwaju Bola Tinubu would accompany the President on the campaign trip.
A pedestrian walks past a stock indicator board displaying share prices of the Tokyo Stock Exchange in Tokyo on January 7, 2019. – Tokyo stocks closed up more than two percent on January 7, 2019, after European and US markets roared last week on strong US data and dovish comments from the US Federal Reserve. (Photo by Behrouz MEHRI / AFP)

Tokyo’s stocks close down on rising yen, Huawei worry

Tokyo stocks closed lower Thursday, weighed down by a firming yen, but banking shares gained to provide some support for the overall market.
Mousa Dembele

Tottenham reach £11 million agreement with Guangzhou for Mousa Dembele

Tottenham have agreed on an £11m ($14m) fee with Chinese outfit Guangzhou R&F for the transfer of Mousa Dembele, subject to international clearance.