CBN’s lending to banks rises 466 % to N268bn
Banks’ borrowings from the Standing Lending Facility (SLF) of the Central Bank of Nigeria (CBN) increased year-on-year (YoY) by 466 percent to N268.3 billion as at end of October 2023 from N47.35 billion as at October 2022 reflecting the increase in currency outside banks.
Zenith Bank bags Bank of the Year award
Zenith Bank Plc has emerged as ‘Bank of the Year’ in Nigeria in The Banker’s Bank of the Year awards 2020. This is coming on the heels of the awards as the Most Valuable Banking Brand in Nigeria and the Number One Bank in Nigeria by Tier-1 Capital by The Banker won earlier in the year.
New CBN policy firms up Naira value in parallel market
The Nigerian currency, Naira, yesterday reversed its two weeks depreciation trend in the parallel market, recording N20 gain against the United States Dollar closing at N470 per dollar.
Fidelity, UBA win big at BAFI awards
Fidelity Bank Plc and the United Bank for Africa Plc (UBA) have clinched double awards at the 2020 edition of BusinessDay Banks and Other Financial Institutions (BAFI) Awards held in Lagos.
CBN boosts dollar supply with new rules on domiciliary accounts, remittance
In an apparent move to boost dollar supply into the economy, the Central Bank of Nigeria (CBN) yesterday introduced new rules that allow beneficiaries of diaspora remittance and transfers into domiciliary accounts to receive their money in foreign currency.
Ecobank Nigeria launches smart SME agency banking campaign to empower small businesses
Ecobank Nigeria has launched a Smart Small And Medium Enterprise (SME) Agency Banking campaign targeted at empowering 100,000 entrepreneurs under the Ecobank SME and Agency Banking proposition.
