Bank & Finance

Nov 26, 2018
The campaign group Global Witness has calculated the OPL 245 deal in 2011 deprived Nigeria of double its annual education and healthcare budget.   Eni and Shell are accused of…
Nov 25, 2018
Two of Africa’s largest mobile operators and mobile money providers, Orange Group and MTN Group, announced a joint venture, Mowali (mobile wallet interoperability). The new product aims to enable interoperable…
Nov 24, 2018
A NEW commercial bank formed by China's state owned and private enterprises open doors in Dar es Salaam Monday next week to tap into growing Chinese trade and investment in…
Nov 23, 2018
The Central Bank of Nigeria (CBN) Wednesday injected $210 million into the foreign exchange market to help stabilize the naira.   Figures from the bank showed that it offered $100m…
Nov 22, 2018
The banking sector in the U.S. has reported a combined profit of $62 billion in the third quarter of 2018.   The profit is up by 29.3 per cent from…
Nov 19, 2018
The Nigerian Federation Account Allocation Committee (FAAC) has disbursed a total of N6.226 trillion to federal, states and local governments in the country in the first three quarters of 2018.…
Nov 15, 2018
The Federal Government of Nigeria on Wednesday successfully raised a new $2.86 billion Eurobond.   The $2.86 billion however came at a higher interest rate, a move that may put…
Nov 14, 2018
In its latest round of intervention, the Central Bank of Nigeria (CBN) on Tuesday injected the sum of $210 million in the inter-bank foreign exchange market.   Figures obtained from…
Nov 13, 2018
Two commercial banks in the Nigeria, Diamond Bank Plc and Access Bank Plc have denied reports that the two banks are in merger or acquisition talks. The banks, in seperate…
Nov 12, 2018
A former senior executive of the scandal-ridden VBS Mutual Bank has revealed that a branch manager was ordered to make a R3 million payment to fund the national congress held…
Nov 12, 2018
The Nigerian National Petroleum Corporation (NNPC) has said money alleged to have been diverted from the dividend from the Nigeria Liquefied Natural Gas (NLNG) company was a revolving loan to…
Nov 10, 2018
TymeBank, owned by South African billionaire Patrice Motsepe, has started signing up customers for its new online bank, one of a number of entrants planning to steal clients away from…
Nov 09, 2018
Bitcoin recently turned ten years old. In that time, it has proved revolutionary because it ignores the need for modern money’s institutions to verify payments. Instead, Bitcoin relies on cryptographic…
Nov 08, 2018
The Nigerians National Petroleum Corporation (NNPC) said it transferred the sum of N128.40billion into the federation account in August.   The Corporation disclosed this in its monthly Financial and Operational…
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