The Housing Development Advocacy Network has appealed to the Central Bank of Nigeria to give waivers to mortgage banks in the cash withdrawal limit policy.
The report titled “How CBN is underdeveloping the Nigerian mortgage sector” noted that appeals made to the CBN for a waiver of the policy and the request that primary mortgage banks’ withdrawals be treated as bank-to-bank transfers had…
The Central Bank of Nigeria has approved in principle for Zenith Bank to operate as a financial holding company.
In a statement signed by the Company Secretary, Michael Otu, on Friday, the bank revealed plans to change its organisational structure.
With this change, the…
To shore up its capital base, Wema Bank has issued a N25 billion bond to targeted investors.
In a corporate notice signed by the Company Secretary, Johnson Lebile, on Thursday, the bond will not be listed on any security exchange.
Part of the notice read, “Wema Bank Plc…
The Central Bank of Nigeria has given approval in principle to Zenith Bank to operate as a financial holding company.
In a statement signed by the Company Secretary, Michael Otu, on Friday, the company revealed plans to change its organisational structure.
With this change, the organisation will have a banking subsidiary along with other subsidiaries in the financial services sector.
Part of…
Fintech for Women: HerVest increases its services to promote greater financial inclusion among all types of women.
March 3, 2023
In furtherance of its commitment to bridge the $42bn gender finance gap in Africa, HerVest, a fintech dedicated to providing financial inclusion for women through a Gender Lens Investment (GLI) approach, has launched its revamped digital app to deepen access to financial…
Supreme Court orders old N200, N500, N1,000 notes to remain legal tender till Dec 31
March 3, 2023
The Supreme Court has invalidated the new naira design policy initiated by the Federal Government on the grounds that it was not done with due consultation and in line with constitutional provisions.
Following, the apex court ordered that the old naira notes shall continue…
The Central Bank of Nigeria plans to raise N1.13tn via treasury bills for the second quarter of 2023.
This was according to the latest Nigerian Treasury Bill Issue Programme for the Second Quarter 2023 available on the bank’s website.
This is a significant increase from N926bn raised in the second quarter of 2022. The bills are divided into three tenors of 91-days, 182-days, and 364-days with a…
The Chairman of Fidelity Bank Plc, Mr Mustafa Chike-Obi, has said that securities and margin lending can boost the volume of trade in the Nigerian capital market.
A statement said he spoke when he was invested as a fellow of the Chartered Institute of…
Wema Bank says it is committed to providing women with the knowledge they need to succeed in their careers and businesses.
The bank said it is preparing to celebrate International Women’s Day in 2023 by stimulating discussion about women’s economic growth.
The…
Earnings from non-oil export in October and November rose to $75m, figures obtained from the Central Bank of Nigeria have revealed.
The CBN stated in its November economic report that non-oil export earnings rose by 16.9 per cent to $0.40bn, from $0.35bn in October.
It stated, “Non-oil export earnings rose by 16.9 per cent to $0.40bn, from $0.35bn in October, due, largely to sustained favourable…