First Bank named Nigeria’s strongest brand in 2026 by Brand Finance
First Bank, West Africa’s premier financial institution and financial inclusion service provider, has been recognised as the strongest brand in Nigeria in the “Nigeria 25 2026” ranking by Brand Finance, a leading independent brand valuation and strategy consultancy. The Bank achieved an AAA+ rating, the highest possible distinction, underscoring its unmatched brand strength and leadership […]
Kenya central bank approves merger of lenders NIC, CBA Group
Kenya’s central bank said on Friday that it had approved the merger of Commercial Bank of Africa and NIC Group, making it the second major merger in the sector this year. The central bank said in a statement in Nairobi that following the merger, effective Oct. 1, 2019, all subsidiaries would operate under a non-operating […]
NDIC commences payment to depositors of 154 failed MFBs
The Nigeria Deposit Insurance Corporation (NDIC) said it had commenced payment to depositors of 154 Micro Finance Banks (MFBs) that the Central Bank of Nigeria (CBN) revoked their licenses in 2018 due to insolvency. Alhaji Umaru Ibrahim, Managing Director, NDIC, said this at the Corporation’s day at the ongoing 14th edition of Abuja International Trade […]
Nigeria lost $157.5bn to illicit financial flows in 9-yrs — Buhari
..Says such massive assets loss resulted in dearth of resources By Johnbosco Agbakwuru President Muhammadu Buhari on Thursday said that Nigeria lost an estimated US$157.5 billion to illicit financial flows between 2003 and 2012. Quoting from the 2014 Global Financial Integrity Report in his address to the High-Level National Side-Event organised by the African Union […]
South Africa records FDI inflows of 26.3bn rand in Q2
South Africa saw larger Foreign Direct Investment (FDI) inflows in the second quarter than the first quarter as domestic firms received debt and equity funding from foreign parent companies, central bank data showed on Wednesday. The South African Reserve Bank (SARB) said in its quarterly bulletin that the country had FDI inflows of 26.3 billion […]
CBN clarifies cashless policy transaction charges
The Central Bank of Nigeria (CBN) says the transaction charges on deposit and withdrawal in furtherance of the implementation of its cashless policy is on the amount in excess of the set limits. The Director, Corporate Communication Department, Mr Isaac Okorafor, made the clarification in an interview with News Agency of Nigeria (NAN) in Abuja […]
