Standard Bank Eyes Stake in OPay Ahead of US IPO
OPay had appointed Citigroup, Deutsche Bank, and JPMorgan Chase to work on its planned US IPO, with the company targeting a valuation of about $4 billion.
Banks & DFIs
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President Tinubu Approves Unclaimed Dividends, Dormant Accounts Transfer to NELFUND
The Education Minister said that the measures are aimed at strengthening NELFUND’s financial capacity, with more than 1.2 million students currently benefiting from the scheme.
Unlocking ₦84trn Banks’ Idle Funds For Lending To Manufacturers…
Nigeria’s challenge is no longer simply mobilising capital; it is creating the conditions under which banks can profitably lend that capital to businesses capable of producing, expanding, exporting and creating jobs,writes FRANKLIN OCHENEYI • Image: Dangote Petroleum Refinery, Lagos. RECENTLY, the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso , urged commercial banks to lend…
BoI Chief Exposes Nigerian Capital Market’s Capacity To Mobilise Long-Term Funding
Bank of Industry Limited (BoI) said that the domestic capital market has the capacity to mobilise long-term funding for productive investment in the country. The Managing Director/Chief Executive, BoI, Dr. Olasupo Olusi, expressed the conviction citing the oversubscription of the bank’s maiden N250 billion Series 1 Fixed Rate Bond, by domestic institutional investors within five…
NDIC begins paying depositors of 46 closed microfinance banks
“Payments are ongoing, and over 700,000 Heritage Bank customers have already received their insured funds through BVN-linked accounts.
Data breach: Zenith Bank says customers’ fund,account safe
The bank warned customers to ignore suspicious emails, text messages, and phone calls requesting sensitive banking information.
CPPE Calls for Reform of Nigeria’s DFIs, Cites Structural Weaknesses
The Central Bank of Nigeria should function primarily as a catalyst, refinancer and risk-sharing institution, while Development Finance Institutions and participating financial institutions handle credit appraisal, lending and loan recovery
Cardoso Urges Banks To Lend Out Idle Funds With CBN •Retains July MPR at 26.5%
“The committee’s decision to maintain the current policy stand follows a thorough assessment of the balance of risk,” said Cardoso.
UBA Designates Emmanuel Nnorom Board Chairman as Elumelu retires
Mr. Nnorom is a chartered accountant with over forty years’ experience in banking, finance and audit. He brings to the role extensive leadership experience and deep institutional knowledge of UBA.
CBN revokes 46 MFBs’ licences
The revocation was approved by the Governor of the Central Bank of Nigeria, Mr. Olayemi
Cardoso, following the banks’ failure to meet the regulatory requirements for continued
operation as licensed financial institutions.
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