Banking articles

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

Over 100 Small Businesses to Participate in 2017 GTBank Food and Drink Fair

More than 100 small businesses in Nigeria’s Food Industry will be provided with free storefronts at the GTBank Food and Drink which holds during the Worker’s Day holiday, on Sunday the 30th of April and Monday the 1st of May, 2017. Organised by foremost African Financial Institution, Guaranty Trust Bank Plc, the 2-day event offers

Benefits of financial knowledge among youth – Stanbic IBTC Bank

Nigeria’s banking industry will continue to grow in sophistication, innovation and strength as the youth demography becomes significant in driving the future of banking, Stanbic IBTC Bank PLC, a member of Stanbic IBTC Holdings PLC, has said. Such significance will ride on the back of more enlightenment powered by such initiatives as the financial literacy