Category Archives: Finance

Sterling Plunges as Pressure on PM May to Step Down Looms

Sterling weakened again on Thursday as pressure mounted on Prime Minister Theresa May to name a date for her departure after a backlash over her last-ditch plans for Britain’s exit from the European Union. May’s final attempt to get colleagues’

Dollar Hits two-year high, safe havens up on Stormy Global Economy

The dollar hit its highest level in two years and the yen rose half a percent on Thursday as economic and political uncertainties swept through Europe and Asia, pinning down the euro and the yuan. Worries over German manufacturing, the

How Distressed Oil & Gas Loans SealDiamond Bank

More facts have emerged on the reasons why the defunct Diamond Bank surrendered itself for a business combination deal with Access Bank Plc. The deal was consummated on April 1.

NIBSS Records N879 billion Payment in 17,130.91 POS Transactions in Q1 2019

Reports from the Nigerian Interbank Settlement System (NIBSS), indicate that Nigeria’s Point of Sales (POS) recorded 117,130.91 transactions from January to April. The report, obtained by the News Agency of Nigeria (NAN) on Sunday, showed an increase of 42,816.99 when

Sterling Rises Off 5-Month Lows After Big Weekly Dro

Sterling inched above five-month lows on Monday as British Prime Minister Theresa May makes a last-ditch attempt to get a Brexit deal through parliament before she leaves office, though scepticism from the opposition Labour Party capped gains. After failing three

Dollar Flats Amid Trade Tensions, Fed Policy

The dollar was little changed on Monday morning but maintained last week’s gains as investors held off on big moves while awaiting developments in U.S-China trade negotiations and for insight into the Federal Reserve’s thinking on interest-rate policy. China on

Stanbic IBTC: Banking Industry Compliance, Corporate Governance Practices

At a recent function in Abuja, the Managing Director/CEO of the Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim, delivered a lecture where he revealed that there has been a consistent decline, over the past three years, in the recorded

Sterling Bank Staff Allegedly Dupes Customers N4.5m

An employee of Sterling Bank Plc, Mr Emmanuel Odoemena, has been accused of stealing N4.47 million belonging to customers of the financial institution. The suspect, a 34-year residence of Lagos State, was arraigned yesterday at the Ogudu Magistrates’ Court in

Blackstone Makes €175m Equity Investment in Superbet

Superbet, the largest omni-channel sports betting and gaming operator in Romania, and Blackstone have announced a €175 million strategic minority equity investment in Superbet by funds managed or advised by Blackstone’s Tactical Opportunities business.

London Stock Exchange Admits Finablr Shares

London Stock Exchange (LSE) has welcomed Finablr Plc, a global payments and foreign exchange company, to open London’s markets for trading and to celebrate the listing of the company’s shares on the Premium Segment of the Main Market of London