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USSD charge: Banks disown MTN

Nigerian banks have denied asking MTN to impose a new charge on customers for using the telecom firm’s access codes to conduct financial transactions.

Stress test: Nigerian banking sector remain strong – central bank governor

The Governor of Central Bank of Nigeria, Mr Godwin Emefiele on Sunday said that the Nigerian banking sector is strong in spite of the fact that some banks failed its stress test.

Central bank mandates commercial banks to give out more loans

A new directive by the Central Bank mandates Nigerian banks to give N65 as loans for every N100 they have as deposits.
Adams Oshiomhole

Xenophobia: APC urges President Buhari to go on the offensive against South Africa

The ruling All Progressives Congress (APC) on Thursday came hard on the South African government, accusing it of backing the wave of xenophobic attacks on Nigerians and other Africans in the rainbow nation, and asked the President Muhammadu Buhari administration to take steps to immediately nationalize telecommunications giant, MTN.
China's Yuan

Nigeria-China currency swap: Manufacturers groan over Renminbi access

Almost 70 per cent of Nigeria’s imports come from China and other Asian countries, while a paltry 12 per cent comes from the United States of America. This must have, no doubt, influenced the decision of the Federal Government to negotiate a currency swap deal with China.
One of the five new banks licensed by the Central Bank of Nigeria (CBN), Titan Trust Bank Limited is set for entry into the Nigerian banking industry in a matter of weeks.

Titan Trust Bank sets for retail banking in Nigeria

One of the five new banks licensed by the Central Bank of Nigeria (CBN), Titan Trust Bank Limited is set for entry into the Nigerian banking industry in a matter of weeks.
Korea Electric Power Corporation (KEPCO)

N15 billion debt: Court orders winding up petition against Kepco company advertised

A Federal High Court sitting in Abuja, the Federal Capital Territory of Nigeria has ordered that a winding up petition filed by United Bank for Africa Plc UBA against a limited liability company KEPCO ENERGY RESOURCES NIGERIA LIMITED (RC 6900064) over the inability of the company to pay a debt of N15,221,674,976.4 be advertised in the Federal Gazette and in one other national daily.
Tunde Ayeni

EFCC: Tunde Ayeni took N17.4bn cash from Skye Bank in one year

The Economic and Financial Crimes Commission, EFCC, says a former Chairman of the defunct Skye Bank Plc (now Polaris Bank), Tunde Ayeni, took N17.4bn raw cash from the suspense account of the bank between January 1 and December 31, 2014.

CACOL asks Justice Onnoghen vacate office false assets declaration charge

The Centre for Anti-Corruption and Open Leadership, CACOL, has called for careful consideration and caution on various allegations of false and non-declaration of full assets and money laundering against the Chief Justice of the federation, Walter Onnoghen.

Teleology takes over 9mobile, appoints new board of directors

After series of twists and legal turns in the takeover process of 9mobile, Teleology Technology Limited on Monday officially took over the operational affairs of the telecoms company.

Babatunde Fashola: Nigerian banks not ready to fund infrastructure

Babatunde Fashola, minister of power, works, and housing, says Nigerian banks are not willing to fund infrastructure development in the country.

Senate probes excessive charges on customers’ ATM accounts

The Senate on Wednesday directed its Committee on Banking Insurance and other Financial Institutions and Finance to conduct an investigation into the propriety of Automated Teller Machine card maintenance charges in comparison with international best practices.
FILE PHOTO- An MTN starter kit pack on display at a retail stand in Abuja, Nigeria November 17, 2015. REUTERS-Afolabi Sotunde-File Photo

Nigeria’s $8.1bn demand cast doubts over MTN’s Nigeria IPO plans

MTN Group’s plan to list its Nigerian unit in an initial public offering this year is under threat after the central bank ordered the South African telecoms giant to hand over $8.1 billion allegedly sent abroad illegally, sources said.

NCDMB begins disbursement of $200 million intervention fund to local firms

The Nigerian Content Development and Monitoring Board (NCDMB), has commenced the disbursement of its $200 million Nigerian Content Intervention Fund (NCIF) at eight per cent interest rate to local oil and gas firms.

NBS: Nigerian banks hiring more staff

Nigerian banks are hiring more staff, indicating that the sector is booming.
ATM

Banks review ATM cash withdrawal overseas

Guaranty Trust Bank (GTBank) and First City Monument Bank (FCMB), it said, at the weekend raised their monthly card spending limit on overseas PoS and online transactions from $1,000 to $3,000 and around $2,000 to $5,000.

2017: Commercial banks rake in N656 billion from fees, commission income

Thirteen commercial banks quoted on the Nigerian Stock Exchange (NSE) raked in N655.669 billion from fees and commission income last year, figures compiled from the full year 2017 audited results have shown.

Ibrahim Magu: Some Nigerian banks almost collapsing

The acting chairman of the Economic and Financial Crimes Commission, Ibrahim Magu, on Tuesday said some Nigerian banks were already on the verge of collapse due to the activities of unscrupulous individuals.

Recent Stories

Court remands labourer for allegedly defiling six-year-old girl

A Kaduna Chief Magistrates’ Court on Wednesday ordered that a 19-year-old labourer, Bashiru Ibrahim, who allegedly defiled a six-year-old girl, be remanded in a correctional facility, pending legal advice.
European Parliament President, David Sassoli, has urged EU leaders to allow Britain to delay its end of month deadline to leave the European Union.

EU parliament president calls on leaders to grant Brexit delay

European Parliament President, David Sassoli, has urged EU leaders to allow Britain to delay its end of month deadline to leave the European Union.
Wildlife officials found three more dead wild elephants in central Sri Lanka Saturday, raising the number believed to have been poisoned by angry villagers to seven.

More than 100 elephants die in Botswana in suspected anthrax outbreak

More than 100 elephants have died in Botswana in the past two months partly because of a suspected anthrax outbreak, the government has said.

NAFDAC tells bakers to maintain standard when producing bread

National Agency for Food and Drug Administration and Control has decried the lack of commitment to standard by members of the Association of Master Bakers and Caterers of Nigeria in bread making.

South African Airways, Comair return grounded planes to service

South African Airways (SAA) and Comair began returning grounded planes to service on Wednesday a day after safety regulators flagged maintenance problems.