Gross indiscretions of the CBN Governor

PATENTLY indiscreet actions and remarks by the Central Bank of Nigeria Governor, Lamido Sanusi, continue to provoke a storm of protest, suspicion and concern, given the potential consequences for the image and credibility of the institution he represents.

Cash-lite: Operators to spend N315bn on ATM, PoS deployment

ATM Machine

As the January 1, 2012 take-off of the cash-lite economic system in Lagos draws closer, stakeholders, including Deposit Money Banks and Payment Terminal Service Providers licensed by the Central Bank of Nigeria, will spend N315bn to deploy new Automated Teller Machines and Point of Sale terminals, investigation has revealed.

Access Bank leads other banks in financial transparency

Access Bank and Stanbic IBTC have emerged as the banks with the best risk management and corporate governance disclosures in their published 2010 annual reports. The two banks emerged from a rigorous evaluation of the adequacy of their risk management and corporate governance disclosures in the published annual reports of listed Nigerian banks.

Budget: Perform or get out, Jonathan tells ministers

President Goodluck Jonathan

President Goodluck Jonathan has read the Riot Act to ministers ahead of his budget presentation to the National Assembly on Tuesday (tomorrow).

CBN naira devaluation: So what has now changed?

The CBN said two weeks ago that it was planning to review its target band for the naira in the next few days, and depending on where the exchange rate settles, may move its midpoint to between N155 and N156 to the dollar, compared to its current N150.

Devaluation of naira may trigger hyper inflation – Experts

Nigeria’s economy may be hit by hyper-inflation should the Central Bank of Nigeria carry on with plans to devalue the naira, financial analysts have said.

Central Bank to review naira, likely 155-156/dollar target

Naira banknotes

Nigeria's Central Bank Governor Lamido Sanusi said on Monday the bank would review its target band for the naira in the next few days, and depending on where the exchange rate settles may move its midpoint to 155/156 to the dollar, compared to its current 150.

Banking Sector Reforms: Aftermath of September 30 Deadline

Mallam Sanusi Lamido Sanusi

Last week, the September 30, 2011 deadline set by Central Bank of Nigeria (CBN) brought to a close the reform programme initiated about 24 months ago to end the banking crisis.

Paymaster obtains CBN PTSP licence

Paymaster Limited, a subsidiary of Chams plc, has been licensed by the Central Bank of Nigeria (CBN) to operate as a Payment Terminal Service Provider (PTSP), for Point-of-Sale (PoS) terminals to be deployed across the country.

Union Bank meets regulatory deadline on capital adequacy

Abuja, Nigeria – Union Bank of Nigeria plc, one of Nigeria’s oldest and largest commercial lenders by assets and size, yesterday met the regulatory deadline set for all the intervened banks to reorganize their existing shareholding structure and recapitalize to regulatory requirements.

Sterling Bank Plc Finalises deal with ETB

Sterling MD, Yemi Adeola

The Merger and Acquisition deal between Sterling Bank Nigeria and Equatorial Trust Bank has just been concluded.

Nigeria's rescued banks recapitalise

Nigeria's Union Bank on Friday became the last lender rescued in a $4 billion 2009 bailout to get recapitalisation approval, bringing to a close a reform programme set-up two years ago to end the country's banking crisis.

Shareholders of FinBank Plc Approves merger deal with FCMB

CBN Governor Lamido

Abuja, Nigeria - The Shareholders of Finbank Nigeria Plc have just approved the proposed Merger and Acquisition Deal between bank and First City Monument Bank (FCMB).

$550m World Bank loan

The cash is a truckload, her optimism is infectious and her zeal this time around is that of a super patriot.

Oceanic Bank concludes merger deal with ETI with shareholders' approval

The chief executive officer of Oceanic Bank, John Aboh today says the shareholders approval of the merger deal with Ecobank Transnational Incorporated or ETI will benefit them in the areas of improved cash and bonus dividend as ETI operates as a pan-African commercial lender.

Sanusi wins African Central Bank Governor Award

Sanusi Lamido

Central Bank of Nigeria (CBN) Governor Sanusi Lamido Sanusi has, for the second consecutive year, been named Central Bank Governor of the Year in Sub-Saharan Africa. The award was presented by the global business magazine, Emerging Market.

Intercontinental Bank in Merger Deal with Access Bank

Lagos, Nigeria – The shareholders of Intercontinental Bank plc have approved the restructuring of the company’s share capital and recapitalization, bringing to a successful conclusion the planned merger or business combination with Access Bank plc.

ETI set to take over Oceanic Bank

Group Managing Director, Oceanic Bank, Mr John Aboh

Ecobank Transnational Incorporated, a pan-African lender and the parent company of Ecobank Nigeria Plc, is set to buy 100 per cent share capital of Oceanic Bank International Plc.

Raising capital through empowerment programmes

Raising capital through empowerment programmes

The 1995 Beijing declaration has it that of the one billion people estimated as “poor” in the world, about 70 per cent are women and youths, who live in unacceptable conditions of poverty.

Avoid overspending during holidays

Rest is desirable after a day’s work. Nature also supports this with the day and night shift. In the same token, holidays are a necessity, not a luxury.