MMM: NDIC, SEC differ on Bitcoin

January 16, 2017 Oluwatoba Olaitan

Indications have emerged that the Nigeria Deposit Insurance Corporation (NDIC) and the Securities and Exchange Commission (SEC) are not on the same page as regards the trending digital currency, Bitcoin. While the Managing Director of […]

NDIC,CBN looking into benefits of Bitcoin —Ibrahim

December 19, 2016

The Managing Director, Nigeria Deposit Insurance Corporation (NDIC),Alhaji Umaru Ibrahim,  over the weekend said the commission and the Central Bank of Nigeria (CBN) had set up a committee to look into the trending “digital currency, […]

CBN governor Chairs Islamic Liquidity Corporation board

December 19, 2016

The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has been elected as the chairman of the International Islamic Liquidity Management Corporation (IILM) on Thursday, December 15, 2016 in Jakarta, Indonesia. The CBN’s Acting […]

FirstGem train moves to Akwa-Ibom and Benue states

December 5, 2016

First Bank of Nigeria Limited has launched a product that will enable female customers to access support funds for their total financial empowerment. The product known as FirstGem also offers free business advisory, specialised trainings […]

FCMB, two other banks mull capital rising before year end

November 28, 2016

APPARENTLY due to pressure on regulatory capital adequacy ratio, three Nigerian lenders are seriously considering raising capital between this fourth quarter 2016 and early 2017. Only recently, international rating agency, Fitch revised down the Support […]

New Moody’s rates for Nigerian banks

November 7, 2016

Moody’s Investors Service, (“Moody’s”) over the weekend assigned national scale ratings (NSRs) to seven Nigerian banks. NSRs provide a measure of relative creditworthiness within a single country, and are derived from global scale ratings (GSRs) […]

Interbank rates to moderate on improved liquidity

October 24, 2016

Interbank money market rates are expected to moderate as about N200 billion in the Federation Account Allocation Committee (FAAC) distribution expected to filter through the system adds up to treasury bills worth N144.958 billion expected […]

UBA wins big at Finacle Client Innovation awards

October 24, 2016

United Bank for Africa plc has been adjudged winner in two categories at the recently concluded Finacle Client Innovation Awards 2016. The award was organised in India by Infosys Limited; the corporation that provides business […]

Money Market Review

October 17, 2016

Aggregate system liquidity diminished last week on the back increased primary market activities. Money market rates moderated at the start of the week but rose sharply by Friday. Dealers said Open Buy Back (OBB) and […]

Money Market Review

October 10, 2016

Money market rates trended downwards last week as aggregate system liquidity opened at surplus of N20.4billion on Tuesday. Open Buy Back (OBB) and Over Night (O/N) rates dropped to single digits for the first time […]

Lender highlights Nigeria’s export potentials

September 26, 2016

As the Federal Government of Nigeria intensifies efforts to net in revenues from on non-oil export in a period of recession, Heritage Bank Limited, Nigeria’s Most Innovative lender has identified major commodities that can boost […]

S&P lowers 6 banks’ ratings citing economic risks

September 26, 2016

Standard and Poor (S&P), Global Ratings on Friday lowered its long-term counterparty credit ratings on six Nigerian banks after reviewing 9 lenders and one holding company. The rating actions S&P said, reflect the view that […]

Money Market Review

September 25, 2016 Oluwatoba Olaitan

Contrary to deficit opening balances throughout the previous week, aggregate system liquidity improved this week as liquidity levels opened in a surplus position on all trading sessions save for Monday when opening balance stood at […]

Money Market Review

August 29, 2016

System liquidity opened with a balance of N22.3 billion on Monday last. Week. Thus, Open Buy Back (OBB) and Over Night (O/N) rates settled at 19 per cent and 21.8 per cent respectively on Monday. […]

Governors laud Sterling Bank’s initiative on environment

August 29, 2016

The Executive Governors of Plateau, Bauchi and Gombe States, Simon Lalong, Mohammed Abdullahi Abubakar and Ibrahim Hassan Dankwambo respectively, have commended Sterling Bank Plc, for its role in checkmating desertification experienced in some Northern parts […]

Skye Select Summer Campaign gathers momentum

August 22, 2016

The on-going Skye Select Summer campaign has continued to gather momentum as enthusiastic members of the public have been opening account in large numbers. The Skye Select summer campaign offers a new investment window for […]

Money Market Review

August 15, 2016

Last week, the Nigerian interbank money market moderated following the maturity of 192-day treasury bills worth N415.51 billion, 92.66 per cent higher thantheN113.68 billion that matured in the preceding week. Consequently, Nigeria Interbank Offered Rate […]

NDIC reviews maximum deposit insurance coverage PMBs

August 15, 2016

The Nigeria Deposit Insurance Corporation (NDIC) has been granted approval for an upward review of its maximum deposit insurance coverage (MDIC) from N200,000 to N500,000 per depositor for primary mortgage banks (PMBs) and the extension […]

Sterling Bank Bags Best Non-Interest Banking award

August 1, 2016

Sterling Bank Plc has been awarded the Non-Interest Bank of the Year, Africa 2016, for its Non-interest banking window known as ‘Sterling Alternative Finance.’ The award courtesy “The European,” is one of the major categories […]

Money Market Review

July 25, 2016

Rates in the money market remained in the double digit band and trended higher on all days of last week due to tighter system liquidity. On Monday, aggregate system liquidity opened lower at about N188.2 […]

Fitch reaffirms Stanbic IBTC’s triple A’ rating

July 25, 2016

Despite the current economic headwinds confronting Nigeria, Fitch Ratings, the global leader in credit ratings and research, has re-affirmed the AAA(nga)’ ratings of Stanbic IBTC Holdings PLC, a testament to the financial institutions’ strong fundamentals […]

NeFF warns against threat of ‘Deep Web’

July 4, 2016

The Nigeria electronic Fraud Forum (NeFF), has warned financial institutions against a cyber-security threat called ‘Deep Weep,’ even as it launched its 2015 annual report themed: ‘Improving and securing the Cyber-Environment.’ While declaring the forum’s […]

Money Market Review

July 4, 2016

Last week, dealers from Afrinvest (West) Africa Limited said financial system liquidity opened at N168.1billion. OBB and O/N rose 8.8 per cent and 10.8per cent to close at 28.0per cent and 32.0per cent respectively at […]