Banking Archives - Page 4 of 4 -

Banks begin N6.98 USSD charge, customers kick

June 7, 2021June 7, 2021Olabanji AyoolaLeave a Comment

Some banks have notified their customers that they would start charging them N6.98 for every USSD transactions. However, experts have said that excessive charges by banks could pose a threat to financial inclusion. According to them, it will increase cash transactions because many bank customers would avoid using the USSD for transactions and could also […]

Awosika breaks silence after sack as First Bank chair

May 3, 2021May 3, 2021Olabanji AyoolaLeave a Comment

Sacked former chairman of First Bank Nigeria Limited, Mrs. Ibukun Awosika, has insisted the decision to sack reinstated Managing Director of the bank, Adesola Adeduntan, was taken in the best interest of the institution. She said she maintained consistency in her contributions to development of the bank in over five years as chairman. Awosika explained […]

Adeduntan resumes as First Bank CEO

April 30, 2021April 30, 2021Olabanji AyoolaLeave a Comment

First Bank of Nigeria on Friday confirmed that Dr Adesola Adeduntan had resumed as the Chief Executive Officer in line with the directives of the Central Bank of Nigeria (CBN). A statement by the management of the bank said Adeduntan had resumed as directed by the apex bank. “We can confirm that the bank is […]

New loan benchmark may trigger asset bubble in banks

March 1, 2021March 1, 2021Olabanji AyoolaLeave a Comment

NPL 20% above the maximum threshold, may affect dividend payout Experts blame weak economy, harsh business environment Economists urge banks to observe due diligence in approval, strengthen risk framework CBN Governor Godwin Emefiele There are mounting concerns over the increase in banks’ toxic assets and the potential bubble from Loan to Deposit Ratio (LDR) as […]

GTB targets payment, asset management, PFA, others under HoldCo

November 19, 2020November 19, 2020Olabanji AyoolaLeave a Comment

Says claims of high cost of operation exaggerated Assures move will enhance value addition for shareholders Urges CBN to take a position of cryptocurrency Having obtained regulatory approval in principle, GT Bank Plc plans to join some of its peers in the banking sector to diversify its financial services under a holding company (HoldCo), which […]

Access Bank named Africa’s best digital bank

November 17, 2020November 17, 2020Olabanji AyoolaLeave a Comment

For its continued investment in digital innovation, Africa’s largest retail bank, Access Bank PLC has been recognised as the ‘Best Digital Bank in Africa’ by Asian Banker. The announcement was made at the Asian Banker Middle East and Africa Regional 2020 Awards virtual ceremony. Access Bank, over the years, has leveraged technology including advanced analytics, […]

Banks cancel N1.9tr bad loans

July 27, 2020July 27, 2020Olabanji AyoolaLeave a Comment

Nigerian commercial banks have written off N1.9 trillion bad loans from their books in the last four years, according to a report by Agusto & Co, a credit rating agency. This was contained in the firm’s 2020 Banking Industry Report which linked the banks’ actions to weak macroeconomic climate and the introduction of the International […]