NIGERIA’s banking industry will continue to grow in sophistication, innovation and strength as the youth demography becomes significant in driving the future of banking.

COST of funds rose significantly in the interbank money market last week following series of liquidity outflow which caused market liquidity to fall by 26 per cent to N96 billion, week-on-week (WoW).

FIDELITY Bank Plc has reiterated its commitment to deepen the general savings culture and help improve the standard of living amongst Nigerians. This initiative, which is in line with the Central Bank of Nigeria’s financial inclusion policy, seeks to empower the bank’s customers and help them through the harsh economic period.

JAIZ Bank Plc has accumulated funds and is now ready to massively invest in Sukuk (Islamic bonds) which it is to finance in specific infrastructure projects in the country.

By Babajide Komolafe & Adaeze Okechukwu For Mrs Julie Ebi, a Lagos Island based bureaux de change operator, the cashless policy is a bitter sweet experience that may be worsened by the recent reintroduction of cashless charges. “More often, I have encountered difficulties using e-platforms to do business transactions both online and physically in the […]

The finance minister, Mrs Kemi Adeosun, today spoke live on her facebook page about few things that has happened within the ministry of finance and few initiatives introduced by the ministry. This she said is to unravel the state of the economy to Nigerians who have the right to know about the happenings in the economy. Her appearance on facebook today attracted questions and answers from people who are skeptical about the ministries performance, and way out to Nigerians recession.

We want to meter all customers, which is the right thing but the cost of a meter is about N40, 000 and it takes a minimum of 20 years to get a return on that meter

That is the expectation; we have started well and we expect that to continue. Obviously, there will be more.

STAKEHOLDERS’ in the financial services sector of the economy have taken a swipe at the sector saying that banks are not doing enough to arouse depositors’ confidence.

With the approval of operational license for the Development Bank of Nigeria (DBN) it would serve as a wholesale bank to Microfinance Banks (MfBs) which will on-lend on medium and long-term loans to Micro, Small and Medium Enterprises (MSMEs).