Access Bank completes acquisition of African Banking Corporation Mozambique

May 18, 2021

Zainab Iwayemi   Access Bank Plc has announced that its wholly-owned subsidiary, Access Bank Mozambique S.A. has concluded deal to acquire African Banking Corporation (Mocambique), S.A., BancABC Mozambique, a subsidiary of London stock exchange listed group, Atlas Mara Limited. This was contained in the corporate disclosure filed to the Nigerian Exchange Group and signed by […]

First Bank appoints new MD/CEO as Adeduntan Retires

Online EditorApril 28, 2021

Arakunle Kayode   The board of directors of First Bank of Nigeria has approved the appointment of Gbenga Shobo as the new Managing Director/Chief Executive Officer (CEO), effective from Wednesday. Prior to his promotion, Shobo was the bank’s Deputy Director and he succeeds with Adesola Adeduntan who will be leaving the bank in compliance with […]

Wema Bank posts N13.51bn revenue shortfall as loan restructuring bites

April 27, 2021

  Arakunle Kayode   Wema Bank recorded a sharp decline in revenue generated for the year 2020 on the back of the COVID-19 pandemic, its recently released financial statement shows. According to the bank’s financial statements released on Monday, the bank recorded a N13.51 billion shortfall in revenue for year 2020, as it generated a […]

Access Bank to buy African Banking Corporation of Botswana for cash

April 20, 2021

Access Bank lists N15bn green bond on LuxSE

Wale Ameen Online Editor   Leading Nigerian lender, Access Bank Plc is set to buy a majority stake in the African Banking Corporation of Botswana (BancABC), Botswana’s fifth largest bank and a subsidiary of Atlas Mara Limited after agreeing to buy off 78.15% stake in the bank. The cost of the bank’s acquisition is not […]

Inactive PoS machine reaches 140,000 on the back of N50 stamp duties

March 24, 2021

Zainab Iwayemi   In recent times, the Point of Sale (PoS) machines has surged significantly in the digital banking space as cardholders who were initially cautious about digital banking and safety of their funds are beginning to tap into the space especially as COVID-19 pandemic reduced cash demand and usage. As banking becomes more interesting […]

Nigerians free to trade, use cryptocurrency – CBN

March 20, 2021

Wale Ameen   Nigeria’s apex bank, the Central Bank of Nigeria says it had at no time banned trading activities in Cryptocurrencies in the country. This was the submission made by the Governor of the bank at the 30th seminar for Finance Correspondents and Business Editors by the bank in Abuja with the theme, ‘Leveraging […]

E-bills payment swells by 8.57% in February despite dip in volume

Online EditorMarch 10, 2021

Zainab Iwayemi   Data obtained from the Nigeria Interbank Settlement System has shown that there was an 8.57 per cent increase in the e-bills payment from N155.53 billion in January to N168.86 billion in February 2021. Meanwhile, the volume of transactions carried out on the electronic bill payment platform fell month-on-month, by 8.86 per cent […]