Banking articles

GTBank’s 8th Annual Autism Awareness Conference opens in Lagos

GTBank’s 8th Annual Autism Awareness Conference opens in Lagos

Foremost African financial institution, Guaranty Trust Bank plc, will hold the 8th edition of its Annual Autism Conference on Tuesday, July 17 and Wednesday July 18, 2018 at the MUSON Centre, Onikan, Lagos. Themed “Raising a Child with Autism, the Role of Family and the Community” the two-day conference is part of the Bank’s Annual

CBN injects $210 million into foreign exchange market

The Central Bank of Nigeria (CBN), on Tuesday injected $210 million into the inter-bank Foreign Exchange market to meet customers’ requests in various segments of the market. The CBN acting Director, Corporate Communications, Isaac Okoroafor, said that the CBN offered $100 million to authorised dealers in the wholesale segment of the market. Mr Okoroafor said

Stanbic IBTC, Dangote Cement announce largest ever Commercial Paper issuance by a Nigerian company

Stanbic IBTC Capital and Stanbic IBTC Bank, subsidiaries of Stanbic IBTC Holdings PLC, have partnered with Dangote Cement PLC, Africa’s largest cement producer, to announce the issuance of the N50 billion Series 1 and 2 Notes, the largest ever Commercial Paper (CP) issuance by a Nigerian company, under the recently established Dangote Cement PLC’s N150

Naira stable at N360/$ at parallel market

The Naira maintained N360 to the dollar at the parallel market on Monday in Lagos. The Nigerian currency had been trading at N360 to the dollar for four days running, while the Pound Sterling and the Euro closed at N486 and N420, respectively. Trading at the investors’ window saw the naira close at N361.40 with

CBN injects $210m into Forex market

Central Bank of Nigeria (CBN) has injected 210 million dollars into the foreign exchange market (Forex) to meet customers’ requests in various segments, Mr Isaac Okorafor, acting Director, Corporate Communications says. In a statement on Tuesday in Abuja, he said 100 million dollars was allotted to authorised dealers in the wholesale segment of the market,

AMCON: Six banks pay N155.45 billion into sinking fund in three years

Six commercial banks have made payments totaling N155.45 billion into the sinking fund of Asset Management Corporation of Nigeria (AMCON) within three years, the News Agency of Nigeria (NAN), reports. NAN reports that Access Bank, GTBank, United Bank for Africa (UBA), Fidelity Bank, FCMB Group and Sterling Bank made the payments between 2015 and 2017.

President Buhari Appoints Four CBN Non-Executive Directors, Others

President Muhammadu Buhari has approved the appointment of four new non-executive directors for the Central Bank of Nigeria (CBN). The presidential approval was revealed in a statement on Friday by the Permanent Secretary (General Services Office) in the Office of the Secretary to the Government of the Federation. According to the statement, the appointments are

Banks to open Renminbi accounts in China

The Central Bank of Nigeria (CBN) yesterday released the operational guidelines for the $2.5 billion currency swap agreement between Nigeria and China. The Peoples Bank of China (PBoC) – CBN) Bilateral Currency Swap (BCSA) regulations for transactions with authorised dealers in Renminbi, signed by CBN Director, Financial Markets Department, Alvan Ikoku, showed that commercial and

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