Access Bank emerges first Nigerian bank to exceed CBN’s N500bn capital target
Post AMUGE
December 25, 2024
Secures CBN, SEC approvals for recently closed Rights Issue of ordinary shares worth N351bn Share capital hits N600bn Onome Amuge Aigboje Aig-Imoukhuede, Access Holdings chairman Access Bank, the banking subsidiary of Access Holdings has emerged the first bank to meet the N500 billion minimum regulatory capital requirements set by the Central Bank of Nigeria for […]
NGX Group, SEC deepen global partnerships through strategic visit to India
Post AMUGEDecember 18, 2024
Bamidele Famoofo Nigerian Exchange Group (NGX Group), in collaboration with the Securities and Exchange Commission (SEC) Nigeria, has taken a significant step toward enhancing global partnerships within the Nigerian capital market. This was achieved through high-level engagements with the National Stock Exchange (NSE) of India and key players in India’s financial ecosystem. The two-day visit, […]
NIPC targets tech, sustainability to boost Nigeria’s investment appeal
Post AMUGEDecember 17, 2024
Joy Agwunobi The Nigerian Investment Promotion Commission (NIPC) has reiterated its dedication to fostering Nigeria’s economic growth by retaining existing investments and attracting new ones through targeted collaborations and strategic initiatives. The Commission announced plans to prioritise the promotion of fintech, agri-tech, and renewable energy as part of its broader strategy to position Nigeria as […]
Nigeria issues N1tn Sukuk Bond for 124 road projects across six zones
Post AMUGEDecember 13, 2024
Onome Amuge The Securities and Exchange Commission (SEC), recently confirmed that the federal government, has since 2017, issued six Sovereign Sukuk worth a total of N1.1 trillion ($657.6 million), earmarked to finance 124 federal road projects spanning over 5,820 kilometres across all six geopolitical zones in the country. Emomotimi Agama, the SEC director general made […]
Access Bank Plc signs agreement to acquire 100% equity stake in Bidvest Bank
Post AMUGEDecember 12, 2024
Bamidele Famoofo L-R: Seyi Kumapayi, executive director African Subsidiaries, Access Bank Plc and Mpumi Madisa, chief executive officer, Bidvest Group at the signing ceremony for Access Bank’s proposed acquisition of 100% stake in Bidvest Bank in Dubai on Thursday. Access Bank Plc has entered into a binding agreement with South Africa-based Bidvest Group Limited for the […]
Nigeria’s money supply soars by 48% to record N107.7trn in 2024 -CBN
Post AMUGEDecember 12, 2024
Onome Amuge The Central Bank of Nigeria (CBN) has released its October 2024 Money and Credit Statistics, revealing a major fluctuation in Nigeria’s broad Money Supply (M²). Data shows that the M² expanded 48.3 percent year-over-year (YoY) to N107.7 trillion, up from the N72.6 trillion recorded in October 2023. The growth continued for six consecutive […]
Goldman Sachs, IFC partner African banks to empower women entrepreneurs in Africa
Post AMUGEDecember 12, 2024
Joy Agwunobi The International Finance Corporation (IFC) and Goldman Sachs have announced a new partnership with African banks to support the Goldman Sachs 10,000 Women initiative, a joint program launched in 2008 to provide access to capital and training for women entrepreneurs globally. Under the partnership, nine financial institutions from across Africa have agreed to […]
CBN honours OPay for advancing financial inclusion in Nigeria
Post AMUGEDecember 11, 2024
Joy Agwunobi The Central Bank of Nigeria (CBN) has celebrated OPay, a Nigerian financial services provider, with the International Financial Inclusion Conference Award for its groundbreaking efforts in financial inclusion. This recognition was announced at the 2024 International Financial Inclusion Conference, a platform that convened global policymakers, regulators, and industry players to deliberate on enhancing […]
NPA, Nigerdock seal $1bn deal for Snake Island Port development
Post AMUGEDecember 10, 2024
Onome Amuge Nigerdock, in collaboration with the Nigerian Ports Authority (NPA), has sealed a landmark agreement to develop a $1 billion green port facility on Snake Island, setting the stage for a new era of environmentally conscious port development across the country. The new facility, which will occupy 85 hectares of land within the Snake […]
Access Bank UK strengthens Europe-Africa trade with Malta launch
Post AMUGEDecember 10, 2024
Onome Amuge Roosevelt Ogbonna, managing director and chief executive officer of Access Bank Plc Access Holdings Plc has announced that its banking group subsidiary, The Access Bank UK Limited, has launched its first fully-owned subsidiary in Malta, The Access Bank Malta Limited. The banking licence application has been approved by both the European Central Bank […]