The Nigeria Inter-Bank Settlement System Plc (NIBSS) at its 30th Annual General Meeting (AGM) promised to leverage emerging technologies and deepen partnerships to ensure seamless and inclusive payment for all Nigerians. The AGM marked a significant milestone in the history of NIBSS, as it celebrated three decades of advancing Nigeria’s […]
Category: Money Market
Money Market
FBN Holdings Engages Solicitors To Defend Against Barbican Capital Suit
FBN Holdings Plc has disclosed that it has engaged its solicitors to defend the interest of the company against the lawsuit filed against it by Barbican Capital Limited. This was contained in a statement by the company. The HoldCO acknowledges the recent media coverage concerning the lawsuit filed […]
Zenith Bank’s N290 Billion offer to strengthen international presence
The Group Managing Director/Chief Executive Officer of Zenith Bank Plc, Dr Adaora Umeoji, has urged the investing public to invest in its ongoing N290 billion hybrid offer for global growth. Umeoji said this at the bank’s Facts Behind the Offer at the Nigerian Exchange Limited (NGX) on Monday in Lagos. […]
Fidelity Bank Extends Public Offer and Rights Issue to August 12, Increases Offering Size by N78.35 billion
Fidelity Bank Plc has announced an extension of its public offer and rights issue until August 12, 2024. Originally set to conclude on July 29, 2024, this extension has been approved by the Securities and Exchange Commission (SEC) and will see an increase in the total offer size from N127.1 […]
Financial experts want Tinubu withhold assent to 70% forex windfall levy
Some financial experts have urged the Federal Government to reconsider the imposition of a 70% foreign exchange (forex) windfall levy on banks. They urged President Bola Tinubu to withhold assent to the Finance Act (Amendment) Bill 2024 as passed by the National Assembly, which increased the windfall levy on banks’ […]
Kuda partners with SeerBit on cardless payments online
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 […]
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 […]