THE major shareholders, investors and other stakeholders in the eight troubled banks are making moves to reclaim them, vowing to co-operate with the Central Bank installed managements there.
The Central Bank of Nigeria (CBN) is working on a plan to make banks report suspicious cash transactions by politically exposed persons (PEPs).
THE Central Bank, CBN, yesterday, raised an alarm on rising cases of fraud in the nation's financial institutions even as it granted the request of shareholders of Equatorial Trust Bank Limited to recapitalise the bank, following a proposal by the bank's shareholders to the apex bank.
Governor of the Central Bank, CBN, Mr. Lamido Sanusi, has vowed that there will be no respite for banks on corporate governance, insisting that this will help rid the industry of criminals.
The Economic and Financial Crimes Commission (EFCC) yesterday denied reports that it collects 10 percent of funds being recovered for banks. While describing the allegation as a blatant lie and a cheap blackmail, it however, warned that it will neither be deterred or bow to blackmail.
First City Monument bank Plc., has declared a profit before tax of N4.8 billion for the financial year ended April 30, 2009. The figure recorded a drop of 77 per cent when compared with N20.52 billion achieved in the corresponding period of 2008. The bank also posted a loss of N479 million for six months result ended October 2009.
The House of Representatives has alleged that the management of Skye Bank and Fin bank Plc were frustrating on going efforts to ensure timely execution and completion of some Millennium Development Goals (MDGs) projects across the country. This is just as the Senior Special Assistant to the President on MDGs, Hajia Amina Az-Zubairu has disclosed that the sum of N47.1 billion has been approved for ...
The crisis in the nation's banking industry has begun to take its toll on the employees of the banks, as many of them have lost their jobs. Investigation by LEADERSHIP showed that no fewer than four banks have laid off a good number of their staff, while others are threatening to embark on massive retrenchment as part of measures to cut down operating cost.
The nation's interbank lending rates climbed to 5.83 per cent on the average last week, from 4.25 per cent traded the previous week. However, the rise was dampened after the central bank lowered its deposit rate to boost liquidity, traders said. The MPC on Tuesday left its benchmark interest rate (MPR) at 6.0 per cent, but widened its corridor for lending and deposit rates to 200 basis points ...
Investors in National Bank of Kenya shares might receive a dividend as early as next year after a 12-year wait as the bank inches closer to clearing its pile of losses.
FinBank Plc has expressed willingness to treat its customers to unique banking services at the on-going Lagos International Trade Fair which commenced last Friday with tailor-made products and personalized services.
The ANC proposed national health insurance (NHI) as seen through the ideological lense by Jasson Urbach of the Free Market Foundation in the Sowetan of 21 October 2009, which he labels a "threat to health," is nothing but a scare tactic designed to persuade the public and policy makers to abandon the idea of implementing it.
THE Motor Third Party Insurance policy was established to protect vehicle owners and casualties from sudden costs after traffic accidents. Motorists are required to buy an annual premium from an insurance company which is then obliged to pay compensation to the victims.
The Central Bank of Nigeria (CBN) Governor, Mallam Lamido Sanusi has soft-pedalled on the controversial issue of Non Performing Loans which has so far led to the sack of eight bank chief executive officers. This is even as he alleged that a substantial percentage of billions of such funds published by the apex bank where stolen money
Nkumba University on Friday honoured Prof. Tumusiime Mutebile, the Governor of the Bank of Uganda with a doctorate in banking. The chancellor, Dr Maggie Kigozi, said Mr Mutebile was honoured due to his tremendous contribution to the development of the banking sector in the country. "Prof. Mutebile is one of the fine financial managers this country has had. He has spent most of his time in the ...
