By Ginika Okoye The Nigeria Deposit Insurance Corporation (NDIC) has begun the process of liquidating Aso Savings and Loans Plc and Union Homes Savings and Loans Plc, following the revocation of their operating licences by the Central Bank of Nigeria (CBN). The Corporation, in a notice to depositors andContinue Reading
By Taiye Olayemi Wema Bank Plc has completed the second tranche of its N50 billion capital raise through a fully subscribed private placement. The latest round follows the earlier conclusion of a N150 billion Rights Issue in September, bringing the bank’s total qualifying capital to N264.87 billion.Continue Reading
By Taiye Olayemi Zenith Bank Plc has concluded its public offer and attained the Central Bank of Nigeria’s (CBN) recapitalisation target. The bank’s public offer, which was oversubscribed, raised N350.46 billion, bringing its total capital base to N614.65Continue Reading
By Ginika Okoye The Federal Competition and Consumer Protection Commission (FCCPC) has welcomed the Central Bank of Nigeria (CBN)’s draft guidelines requiring banks to refund customers for failed Automated Teller Machine (ATM) transactions within 48 hours. FCCPC, in a statement by Mr Ondaje Ijagwu, its Director, Corporate Affairs, in AbujaContinue Reading
By Taiye Olayemi The Managing Director and Chief Executive Officer of Unity Bank Plc, Mr Ebenezer Kolawole, says a service culture built on responsiveness and innovation remains the key differentiator in achieving impactful customer service. Kolawole stated this duringContinue Reading
By Usman Aliyu An engineer, Akohamen Agenmonmen, who is the Chief Executive Officer of the SurfSpot Communications Limited, says Artificial Intelligence (AI) will not replace bankers except those who refuse to embrace it. Speaking at TechGrid 4.2, a landmark event in Benin City, Agenmonmen said that the financial sector wasContinue Reading
By Kadiri Abdulrahman TAJBank, one of Nigeria’s non-interest banks, says it has met the Central Bank of Nigeria’s (CBN) new minimum capital requirement for national non-interest banks. The Managing Director of the bank, Mr Hamid Joda, confirmed the capitalisation feat in a statement on Friday in Abuja. “I am happyContinue Reading
By Ginika Okoye Some bank customers have called on banks to adopt safe and home grown Artificial Intelligence (AI) platforms in banking to facilitate complaints resolution. Some of the customers who spoke with the News Agency of Nigeria (NAN) in Abuja on Sunday, said that AI adoption in banking wouldContinue Reading
By Ginika Okoye Experts in the financial sector say building strong capital and liquidity buffers will help financial institutions withstand and adapt to global shocks and financial crisis. The experts said this at the 18th Chartered Institute of Bankers of Nigeria (CIBN) Annual Banking and Finance Conference in Abuja. TheyContinue Reading
By Taiye Olayemi Wema Bank Plc has completed its N150 billion Rights Issue, securing approvals from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC). The bank made this known in a statement on Thursday in Lagos. The Rights Issue, which openedContinue Reading
