Kuda has partnered with SeerBit, a payment gateway, to give Kuda’s 7 million-plus customers a safe and easy option for making cardless payments online. The Nigerian fintech’s retail customers can now look out for the ‘Pay With SeerBit’ option on local websites and apps, then pay directly from their Kuda […]
Category: Money Market
Money Market
Access Bank disburses N740 billion digital loans
L-R: Oladisun Dawodu, team lead, digital lending; Njideka Esomeju, group head, consumer banking; and Efe Obaigbena, unit head, digital leading, all of Access Bank plc, at the revamp of Quick Bucks Access Bank digital loan platform in Lagos, Tuesday. Access Bank has granted 18 million digital loans worth N740 […]
CBN raises interest rate by 50 basis points to 26.75%
The Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) has announced a 50 basis point increase in the interest rate, raising it from 26.25% to 26.75%. This decision was disclosed by the Governor of the CBN, Mr. Olayemi Cardoso, at the conclusion of the bank’s 296th MPC meeting in […]
Unity Bank customers win over N4 million in ‘Cashtoken Rewards Promo’
By Collins David Unity Bank customers have claimed over N4 million in cash rewards in its ongoing loyalty programme recently rolled out with Cashtoken, a Cash Reward-as-a-Service company. The winners included no fewer than 40 customers who adopted and transacted on the Bank’s digital banking platforms, including the UniFi mobile […]
Access Bank raises N442 billion through syndicated tier II facility
Access Bank has partnered with the Dutch Entrepreneurial Development Bank (FMO) to secure a syndicated Tier II Facility agreement valued at $295 million (approximately N442.5 billion). According to a statement from the bank provided to newsmen, this agreement underscores a longstanding and successful relationship that has spanned over two decades […]
Banks’ credits to private sector rise by N30 trillion
Nigerian banks have created about N30 trillion in new loans and supports for the private sector in a sustained efforts that have seen the banking sector emerging as the backbone of the country’s economic renewal agenda. Latest data from the Central Bank of Nigeria (CBN) indicated that credit to the […]
GTCO Plc begins public offer to raise N400.5 billion
Guaranty Trust Holding Company Plc (GTCO) has announced the opening of its offer for subscription of 9,000,000,000 ordinary shares at 50 kobo each, priced at N44.50 per share. This follows the clearance of the offer prospectus and the registration of the shares by the Securities and Exchange Commission of Nigeria […]
Only increased crude production can resolve Nigeria’s exchange rate crisis- Cowry Asset MD
The Managing Director, Cowry Asset Management Limited, Mr. Johnson Chukwu has said that the only solution to Nigerian exchange rate crisis is improving crude production. Chukwu stated a webinar tagged HY 2024 Nigerian Economic and Financial Markets Review and Outlook for H2 organized by the company. He noted that government’s […]
GTCO unveils N400.5 billion public offer to fuel international growth and innovation
Guaranty Trust Holding Company Plc (GTCO) has unveiled plans for a substantial N400.5 billion capital raise through a public offer, aimed at fortifying its financial foundation and expanding its global presence. The announcement, made during the “Facts Behind the Offer Presentation,” featured insights from GTCO’s Group Managing Director, Mr. Segun […]
Tier-1 banks report 2024: Access Holdings leads in PBSI ranking
In recognition of its outstanding performance, Access Holdings PLC has been named the leading Tier-1 Bank in the 2024 Proshare Bank Strength Index (PBSI) report. The PBSI, which evaluates banks based on a comprehensive set of financial metrics derived from audited financial statements for the Financial Year 2023, underscores Access […]