Banking articles

GTBank Launches GTPatriot, a Subsidized Banking Package for Nigeria’s Military and Paramilitary Personnel

Foremost financial institution, Guaranty Trust Bank plc, has launched GTPATRIOT, a unique Salary Account Package which offers Nigeria’s servicemen and servicewomen subsidized banking products and dedicated value added services. The GTPatriot Account allows serving members of the Military and Paramilitary institutions to open accounts with zero minimum balance whilst offering reduced Current Account maintenance fees

Stanbic IBTC partners once more with FMDQ OTC PLC in renewal of its NGN100 billion Multicurrency Commercial Paper Programme

Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC and a member of the Standard Bank Group, has received approval from the FMDQ OTC PLC for the renewal of its shelf registration of N100 Billion Multicurrency Commercial Paper (CP) Programme. The renewal of the Programme, initially established in 2012 in compliance with the

Dollar crashes to N380/$1 as MPC meets

The dollar yesterday recorded its worst outing in more than three months against the naira, exchanging at N380/$1 in the parallel market. The rate comes ahead of tomorrow’s Central Bank of Nigeria (CBN) led Monetary Policy Committee (MPC) meeting in Abuja. The local currency was exchanging at N385/$1 on Friday and has maintained steady decline

Stanbic IBTC introduces Nigeria’s first instant online account opening service

Stanbic IBTC Holdings PLC has introduced Nigeria’s first instant online account opening service, in line with its goal of helping to digitize banking in Nigeria for convenience and seamless service delivery. The one-stop financial service provider said this innovation, apart from expanding its retail banking business, will ensure easy access to millions of prospective banking

CBN sanctions First Bank, GTB, UBA, 12 others for forex infractions

About 15 commercial banks wereon Tuesday barred from dealing in foreign exchange through the recently created small and medium enterprises, SMEs wholesale forex window. The decision by the Central Bank of Nigeria, CBN, to wield the big stick followed persistent complaints against the erring deposit money banks, DMBs, that they were deliberately frustrating efforts by many

CBN auctions $185.86m in Retail SMIS

Following Tuesday’s assurances by the Governor of the Central Bank of Nigeria, Godwin Emefiele, that the CBN will continue to intervene in the foreign exchange market, the apex Bank on Wednesday auctioned $185.86 million at the retail Secondary Market Intervention Sales. The Bank’s Acting Director in charge of Corporate Communications, Isaac Okorafor, while confirming the