banking
Business

Bolaji Agbede Named Access Holding Interim CEO Following Tragic Incident

Access Corporation, the parent company of Access Bank, Nigeria’s largest bank by assets, has appointed Bolaji Agbede as interim CEO, just two days after the tragic death of Herbert Wigwe, the founding Group CEO. The announcement was made by Access Holdings on Tuesday morning, with Abubakar Jimoh, the chairman of Access Holdings, stating that Agbede’s […]

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Business

Access Bank Mourns the Tragic Loss of CEO Herbert Wigwe in Helicopter Crash

Access Bank, a prominent financial institution in Nigeria, is grappling with the devastating news of the untimely death of its founding Group CEO, Herbert Wigwe, along with his wife, son, and three other passengers, including the chairman of the Nigerian Exchange, Abimbola Ogunbanjo. The tragic incident occurred in a plane crash involving a Eurocopter EC130, […]

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Business

Titi Cole: Navigating Change and Paving the Way in Banking

In the intricate landscape of global banking, few women stand out as Titi Cole, a seasoned navigator whose career has seen her steer through numerous transitions, and shape the future of a banking industry in flux. Currently serving as the Head of Legacy Franchises at Citigroup, she oversees consumer businesses across Asia, Europe, the Middle […]

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Business Economy

Access Bank completes its exit from the pension custody sector.

Access Holdings Plc has announced that its subsidiary, Access Bank Plc has completed the divestment of its entire equity interest in Access Pension Fund Custodian Limited to First Pension Custodian Nigeria Limited, a subsidiary of First Bank of Nigeria Limited. The Group released a statement signed by the company secretary, Sunday Ekwochi and filed with […]

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Startups Technology Venture Capital

Nigerian Banking-as-a-Service startup, Anchor, raises $1 million in pre-seed funding

Anchor, a Nigerian Banking-as-a-Service fintech startup, has raised $1 million in pre-seed funding. The Y Combinator-backed startup will use this investment to attract the best talent, improve the company’s tech infrastructure, invest in compliance and regulatory infrastructure, and acquire customers. Byld Ventures, Y Combinator, Luno Expeditions, Niche Capital, Mountain Peak Capital, and angel investors such […]

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Business News Technology

Moneymie has shut down its digital bank for immigrants to focus on B2B services

Moneymie suspended its digital bank service, which allowed African immigrants in North America to send and receive money from Nigeria, Ghana, and South Africa, on August 9, 2022. Although Moneymie is discontinuing its B2C services, the fintech company announced that it will focus on cross-border payments and payouts for business users through its B2B platform […]

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Uncategorized

Despite a 222% increase in currency availability, the Naira declines on the P2P market to N691 per $1.

At the official foreign exchange market, the naira/dollar exchange rate closed at N429.43/$1. In comparison to the N429.05/$1 exchange rate recorded on Friday, August 19, 2022, the currency rate decreased marginally to close at N429.43/$1, or a 0.09% depreciation. In the meantime, the amount of FX supply increased by 222.3% to $161.94 million from 50.22 […]

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Business Business News Finance

Millions of underbanked women are the target of Unity Bank’s Yanga Market Penetration Campaign.

With its new retail product, the Yanga account, Nigeria’s retail lender Unity Bank Plc has launched a new marketing campaign aimed at millions of female entrepreneurs, particularly the underbanked. Beginning in August, the lender will launch smart marketing initiatives utilizing both conventional and digital media to promote the Yanga product’s value proposition and boost uptake. […]

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Finance

CBN orders the closing of Unregistered Accounts

Given the recent directive by the central bank of Nigeria (CBN), most banks in Nigeria have proceeded to take action. Recently some banks have commenced the closing of unregistered accounts belonging to associations. The central bank of Nigeria stated that for any society, corporation, club, or association to have an account in a Nigerian bank, […]

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Business Finance

Standard Chartered to stop International Spending on Naira Cards

The past few weeks have come with troubling news from the forex sector in Nigeria. British Multinational bank, Standard Chartered Bank, announced last week that it was shutting down international spendings on its debit naira cards. This is coming after the United Bank for Africa and Zenith bank both reduced their international spend limit to […]

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