The Central Bank of Nigeria (CBN) has projected that most Nigerians will distance themselves from expensive and luxury items within the next 12 months. This is contained in the ‘Consumer Expectations Survey for Q4 2020’ report released by the CBN’s statistics department. It was reported that Nigerians’ overall confidence outlook[Read More…]
Tag: bank
TAJBank Celebrates 1st Anniversary …Breaks Even in 9 Months of Operations
Nigeria’s most innovative Non-Interest Bank has celebrated its 1st anniversary. The event which held recently, took place at the Wells Carlton Hotel in Abuja. In attendance, were members of the board of directors, executive management as well as members of staff. The occasion was an opportunity for the Bank to[Read More…]
Access Bank Announces N50 Billion Interest Free Loans and Grants For SMEs
Access Bank Plc has announced that it will be providing N50 billion interest-free loans and grants to Nigerians to support communities, the youths, and micro, small and medium-sized businesses (MSMEs). This is to help cushion the effect of Covid-19 pandemic, coupled with the hijacked #EndSARS protests that led to the[Read More…]
Hope PSBank Announces Board Appointments …Abubakar as Board Chairman, Kuponiyi as Managing Director
Hope PSBank, Nigeria’s premier Digital-first Bank and a subsidiary of Unified Payments has announced key appointments for the bank. The board has approved the appointments of Alhaji Shehu Abubakar as Chairman and Ayotunde Kuponiyi as Managing Director. The list of Directors includes Agada Apochi, Ochanya Dan-Ugo, Festus Eze Ikediasor, Ano[Read More…]
CBN Releases Framework for Financing of Mass Metering
Central Bank of Nigeria (CBN) has released its framework for National Mass Metering Programme (NMMP). The framework was released by the Development Financing department of the apex bank through its official website on Monday. It stated that introduction of the Service-Based Tariff (SBT) in the Nigeria Electricity Supply Industry (NESI)[Read More…]
FirstBank Corporate Statement
Our attention has been drawn to the tweet making the rounds on social media on shutting down the FirstBank website following a false tweet that the Bank prevented staff from joining the ongoing protests in the country. As the largest banking institution in Nigeria, it is not unlikely that we[Read More…]
Access Bank Cautious On Loans In H2
The management of Access Bank Plc observed a cautious mood on new lending over the first half of the current financial year ended June 2020. The caution appears to be warranted by rapidly rising credit loss expenses facing the bank for the second year. Bad loans are on the rise[Read More…]
Betting: CBN Probes Owners, Requests Account Statements
The Central Bank of Nigeria (CBN) has requested that all banks in the country submit the statements of domiciliary accounts of some high profile individuals, including owners of popular betting companies Nigeria. CBN issued the directive in a September 15, 2020 letter signed by Z. Markus for the director of[Read More…]
FG Makes U-Turn, Apologises For Asking All Bank, Other Account Holders To Re-Register
The Federal Government has apologised for asking all account holders in the country’s financial institutions to register their details again. The Federal Government earlier asked all account holders in banks, including insurance companies, to fill and submit a Self-Confirmation form. The order was given despite the possession of the Bank[Read More…]
Access Bank tells customers it’s time to pay accrued stamp duty charges
Access Bank Plc said it recently discovered a mistake in its operations records, whereby stamp duty charges on applicable transactions were not passed on to customers. The omissions occurred between February 1st, 2020, and April 30th, 2020. The tier-1 bank said it is deeply apologetic for this error. However, all[Read More…]
Consumer TV
FG Revenue Rises 76% to N12.5tn, Fueled by Tax and Oil Gains — Budget Office
The Federal Government’s earnings have increased by 76 percent, rising from N7.1 trillion in 2022 to N12.5 trillion in 2023, due to higher taxes and oil revenues. This information was revealed in the recently released 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper from the Ministry of Budget and[Read More…]