Banking

Bank of Industry records 75% profit growth, pays shareholders N7.89bn dividend

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May 24, 2022
The Bank of Industry (BOI) recorded a 75 per cent increase in its Profit Before Tax to N61.15 billion in the 2021 financial period. The Chairman of BOI’s Board of Directors, Aliyu Dikko announced the results during the bank’s 62nd yearly general meeting in Abuja. The bank also declared a dividend payment of N7.89 billion for the financial year ended December 2021 to its shareholders, the…
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Banking

Airtel commences Financial operations in Nigeria

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May 19, 2022
Airtel Africa Plc has announced that its payment service bank subsidiary, SmartCash, has commenced operations in Nigeria. This was disclosed in a statement signed by the company’s secretary, Simon O’Hara and filed with the Nigerian Exchange Group (NGX). The statement…
BankingRanks & Rate

TOP MICROFINANCE BANKS

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May 19, 2022
Small loans enable entrepreneurs to start or expand micro, small and medium enterprises. Microfinance also called “microcredit” is a way to provide small business owners and entrepreneurs access to capital. Often, small and individual businesses don’t have…
Banking

Access Bank set sell its pension custody business to First Pension

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May 19, 2022
Access Holdings Plc has announced plans by Access Bank to divest from its pension custody subsidiary. The Group released a statement signed by the company secretary, Sunday Ekwochi and filed with the Nigerian Exchange Limited (NGX). According to the statement, the group is already in the process of divestment from this part of its business. The group announced that its subsidiary, Access Bank Plc…
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Banking

CBN issues guidelines for Open Banking in Nigeria

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May 19, 2022
The Central Bank of Nigeria has issued the regulatory framework for Open Banking in Nigeria in its efforts to enhance data sharing across the banking and payments system to promote innovations and broaden the range of financial products and services available to bank…
BankingMarket

Naira gained against the US dollar on Tuesday,

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May 16, 2022
Tuesday, 17th May 2022: The exchange rate between the naira and the US dollar closed at N418.5/$1 at the official Investors and Exporters (I&E) window, appreciating by 0.71% from N421.5/$1 recorded the previous day. Naira gained against the US dollar on Tuesday, following the record-high depreciation recorded in the previous trading session. Likewise, FX turnover improved by 48.7% to $105.1…
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