Category Archives: Banking

Reasons Why banks stopped funding ship acquisition in Nigeria

THERE are indications that banks have stopped financing ship acquisition in Nigeria  following underhand dealings leading to their loss of funds to bad loans in previous deals.

Vanguard Maritime Report gathered that banks were willing to give loans for ship acquisition in the past until some shipping operators devised a means of using the loans to get old refurbished ships at far less than the amount collected from the banks and afterwards, abandoned such ships on the grounds that they were serviceable.

Germany Marks Nearly 40 Thousand E-banking Phishing Cases Over the Last Decade

As one of the most widespread types of cyber-attacks, phishing has caused tremendous damage for both internet users and organizations all over the world. One of the affected countries on this global list is Germany. According to research, the number of officially reported phishing attacks on German online banking users in the last decade has reached nearly 40 thousand cases.

Keystone Bank boosts workplace engagement, productivity

In demonstration of its commitment to promoting fitness, healthy living, fostering effective and healthy workplace collaboration amongst its staff and their family members, Keystone Bank Limited, has announced the launch of a sporting event tagged, Keystone Bank Inter-divisional Games (KIG).

According to the lender, the initiative is part of the bank’s objective in creating a better working relationship on the job thereby boosting performances and building a positive work atmosphere with employee welfare and development at its crux.

Polaris Bank launches target loans for health SMEs

Polaris Bank has announced the introduction of a new loan bundle to support the growth of small and medium enterprises (SMEs) in the Nigerian health sector.

Speaking on the benefits of the new Polaris Health Sector Loan bundle, Group Head, Products and Market Development, Polaris Bank, Mrs. Adebimpe Ihekuna,  said the product was designed to meet the funding needs of healthcare service providers in Nigeria.

Access Bank Plc excites customers with yuletide rewards

ACCESS Bank Plc has unveiled series of exciting rewards for its customers to celebrate the yuletide season. The campaign tagged ‘More Xtravaganza’, will run from November 21 to December 31, 2019.

Speaking at the launch of the campaign in Lagos, Executive Director, Retail banking, Access Bank Plc, Victor Etuokwu said Access Bank is passionate about its customers and everything we do is centred around giving them more.

Fintech firms got $400m investment in 2019 – Emefiele

About $400m has been invested in fintech firms in the country in 2019, according to the Central Bank of Nigeria.

The Central Bank Governor, Emefiele, who disclosed this said this development was part of initiatives to drive financial inclusion in the banking sector.

Ecobank Plc Contribution to Capital Importation rises

Ecobank Nigeria and the local unit of Standard Chartered Bank have joined Stanbic IBTC Bank to become foreign investors’ favourites for investment deals.

In a statement by Ecobank, it quoted the National Bureau of Statistics’ economic report for third quarter of 2019 as confirming the development.

Nigeria Bank Customers To Present Tax Card From Next Month – Must Read

EVIDENCE of tax payment will be a condition for operating a bank account from January, according to the Financial bill passed by the National Assembly.

The Bill, submitted to the lawmakers with Budget 2020 by President Muhammadu Buhari, is designed to improve financial operations of the country and streamline the tax regime.

LAPO Microfinance Bank gets new CEO

The Board of Directors of LAPO Microfinance Bank says it has nominated Mrs Cynthia Ikponmwosa as the managing director designate of the bank.

A statement said she succeeded the founder/Chief Executive Officer, Lift Above Poverty Organisation and LAPO Microfinance Bank Ltd, Dr Godwin Ehigiamuso.

First Bank Plc promotes Women development

The Managing Director/Chief Executive Officer, First Bank of Nigeria, Adesola Adeduntan, says First Bank is committed to empowering women through its FirstGem product and other array of services.

He said this during the third anniversary of First Bank’s female focused product ‘FirstGem’ in Lagos,Nigeria which was attended by working-class and entrepreneurial women.