Diamond Bank Plc through its DiamondXtra season 8 has added fifteen Nigerians to the list of millionaires in the country. The millionaires emerged through a live draw in Lagos, which was witnessed by industry stakeholders, customers, potential customers, shareholders, journalists, the general public and the management of the Bank.

Vono Products Plc, a company quoted on the Nigerian Stock Exchange, NSE has lamented the negative impacts of fake products on the company’s business and appealed to the Federal Government to intensify efforts in combating influx of these products into Nigeria. The Managing Director, Mr Tunji Anjorin, while addressing the company’s trade partners at a Press Conference during the unveiling of the company’s new hospital furniture in Lagos explained that influx of fake products, low government patronage and high exchange rate of the Naira to other convertible currencies have moderated capacity utilization in the real sector.

In Nigeria Stanbic IBTC could be said to have originated from the Investment Banking and Trust Company Ltd (IBTC) which came into existence in 1989 as one of the early indigenous private sector merchant banks in the country. After series of transitions, mergers and acquisitions, Stanbic IBTC has emerged as one of the growing lists of formidable Nigerian South African corporate alliances.

Immediate past President of the Nigerian Council of Registered Insurance Brokers, NCRIB, Mr. Ayodapo Shoderu, has said that at the level of the common man, the devalued naira will reduce the disposable income of Nigerians, further precluding them to care less about undertaking insurance.

Amidst the rising cost of goods in the economy, the higher cost of importing spare parts places insurers at risk from inflated claims costs, particularly within their motor accounts, according to a report by A.M Best. A.M Best also noted that insurers that maintain foreign-currency denominated obligations and utilise a weak asset liability matching framework, the decline in the naira relative to the U.S. dollar will increase liquidity constraints, owing to the need to increase domestic-denominated assets to meet their foreign-currency denominated liabilities.

In 2014 ,United Bank for Africa continued to leverage on continental expansion as a growth and risk governance strategies to report performance figures that are competitive. Its African Strategy appears to be paying off as the revenue contribution of its 18 African subsidiaries increased to N64billion against N56.8billion in the preceding year. Truly UBA is the undisputed leader among Nigerian Banks in terms of presence outside Nigeria.

In 2014, Access Bank moved to strengthen its position in the industry by developing the retail and SME business sectors. This is part of the strategy to achieve the high goal of attaining the status of “Africa”s Most Respected Bank” by 2017. Setting out its key performance indicators, the Directors and management identified 3 over-riding imperatives and focal points for operations. These include growth through strengthened capital position, delivering of strong financial results and sustainable improvement in the quality of growth.

Because of its relevance to the banking sector and the entire economy, Diamond Bank indeed merited the classification as one of the 8 Systematically Important Banks (SIBs) in Nigeria by CBN. As it got to the third year in a journey to “Reclaim the Diamond”, the bank had reasons to celebrate about 25 years of high impact banking in Nigeria.

First Bank of Nigeria, FBN Holdings Plc, came into existence in 2010 following the CBN’s regulation 3 on alternative holding company by which the original First Bank is now owned by the holding company. FBN Holdings has the largest number of shareholders in corporate Nigeria, most diversified ownership. The bank over the years has demonstrated leadership as the flagship of Nigeria’s banking industry and history being the oldest existing bank in Nigeria today and still number one in many areas.

Union Bank of Nigeria Plc first berthed in the Nigerian banking waters in 1917 as Barclays Bank DCO with a mandate to service the burgeoning trade between United Kingdom and the colonial territories of West Africa and Nigeria in Particular. From that period up to late 90’s, the bank remained one of the most preferred full service banks in Nigeria and consistently emerged on top three financial institutions in most measures of size and efficiency.