banking
CIBN and Nigerian Bank CEOs Urge Constructive Dialogue Amid Social Media Criticism
Banking Sectors

CIBN and Nigerian Bank CEOs Urge Constructive Dialogue Amid Social Media Criticism

The Chartered Institute of Bankers of Nigeria (CIBN) and the Body of Bank CEOs have expressed growing concern over the persistent wave of social media criticism directed at Nigerian banks. In a joint statement issued on Tuesday in Lagos, and signed by CIBN President, Prof. Pius Olanrewaju, and the Chairman of the Body of Banks […]

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Kunle Adedeji Takes Over as Acting CEO of Stanbic IBTC After Sogunle’s Retirement
Banking Finance

Kunle Adedeji Takes Over as Acting CEO of Stanbic IBTC After Sogunle’s Retirement

Stanbic IBTC Holdings Plc has announced the retirement of its Chief Executive Officer, Demola Sogunle, after an incredible 35 years of service. Sogunle, who has played a crucial role in shaping the company’s success, will officially step down on October 31, 2024. In a statement, Stanbic IBTC’s Board of Directors expressed their deep appreciation for […]

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MEET BOLA ADESOLA AND AISHA MUHAMMED-OYEBODE: TRAILBLAZERS DRIVING CHANGE IN CORPORATE NIGERIA 
Business Exclusive

MEET BOLA ADESOLA AND AISHA MUHAMMED-OYEBODE: TRAILBLAZERS DRIVING CHANGE IN CORPORATE NIGERIA 

The Central Securities Clearing System (CSCS) Plc has recently welcomed two remarkable leaders, Bola Adesola and Aisha Muhammed-Oyebode, to its Board of Directors. Their appointments highlights a significant stride towards gender diversity and enhanced leadership within the Nigerian capital market. Both women bring a wealth of experience, a commitment to excellence, and an unwavering dedication […]

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Sterling HoldCo Finalises $50 Million Capital Raising Exercise on CBN Directive
Banking Finance

Sterling HoldCo Finalises $50 Million Capital Raising Exercise on CBN Directive

Sterling Financial Holdings Company Plc has made significant progress in its efforts to comply with the Central Bank of Nigeria’s (CBN) recapitalisation requirements for its subsidiaries, securing $50 million in fresh capital. This move, equating to approximately N75 billion, was accomplished through a private placement involving a consortium of domestic investors and ultra-high-net-worth individuals in […]

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Business Verge| Shareholders of Zenith Bank, GTCO, and Stanbic IBTC to Share N86.74 Billion as Interim Dividend for H1 2024
Banking Finance

Shareholders of Zenith Bank, GTCO, and Stanbic IBTC to Share N86.74 Billion as Interim Dividend for H1 2024

The shareholders of Zenith Bank Plc, Guaranty Trust Holding Company Plc (GTCO), and Stanbic IBTC Holding Plc are set to share N86.74 billion in interim dividends for the half year ending June 2024, reflecting a 74% increase from the N49.85 billion declared in the corresponding period of 2023. These leading banks collectively generated a profit […]

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CBN Appoints Full Board to Lead Polaris Bank into a New Era of Growth
Banking Finance

CBN Appoints Full Board to Lead Polaris Bank into a New Era of Growth

The Central Bank of Nigeria (CBN) has appointed a full Board of Directors for Polaris Bank Limited, marking a significant milestone in the bank’s growth trajectory. This development highlights the remarkable achievements of the new management and sets the stage for Polaris Bank’s future as a leading digital financial institution in Nigeria. The 10-member board […]

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Finance Fintech

Kopo Kopo Unveils New Leadership Team to Accelerate Innovation and Growth

Kopo Kopo, a leading player in the mobile money and fintech space, has announced a new leadership team as it prepares for its next phase of growth. The strategic appointments reflect the company’s commitment to innovation and its mission to deliver cutting-edge financial solutions to businesses in Kenya and beyond. Dennis Ondeng, who has been […]

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First Bank Surges by 30% After FBNQuest Sale: A Strategic Play for Growth and Market Stability
Finance Stock Market

First Bank Surges by 30% After FBNQuest Sale: A Strategic Play for Growth and Market Stability

First Bank of Nigeria is riding high in the stock market, recording a sharp 31.81% increase in its share price in mid-September. This rally was sparked by the bank’s announcement of the 100% sale of its stake in FBNQuest Merchant Bank to EverQuest. But beyond the surface of this transaction lies a deeper story about […]

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GTCO to Write Off Aiteo Loan and Focus on Recovery
Finance

GTCO to Write Off Aiteo Loan and Focus on Recovery

Guaranty Trust Holding Company (GTCO) is preparing to write off a significant loan extended to Aiteo Group, an oil and gas company, while also intensifying its recovery efforts. This loan, which has troubled GTCO for several years, is expected to be cleared from the books by the end of 2024. According to GTCO’s CEO, Segun […]

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GTCO to Write Off Aiteo Loan and Focus on Recovery
Business Economy Finance

GTCO Makes History, Becomes First Nigerian Financial Institution to Hit Over N1 Trillion in Profit

Guaranty Trust Holding Company (GTCO) Plc has set a new record, becoming the first Nigerian bank to make a profit of over N1 trillion. For the first half of 2024, GTCO reported a profit before tax (PBT) of N1.004 trillion, a huge jump of 206.6% compared to the N327.4 billion they made around this same […]

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