Financial Services
Banking, Insurance and general financial services news
Nigerian banks have written off N1.9 trillion impaired loans in past 4 years
The COVID-19 pandemic has presented a new threat to Nigerian banks.
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FCMB announces resignation of two directors from its Board
Both directors had been present at the company’s virtual AGM held in April.
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Bears visit Nigerian stock market, triggered by Seplat, Unilever losses
SEPLAT and UNILEVER recorded the largest decline with -10.00% and -4.67% drop in share value.
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Stanbic IBTC Insurance Ltd., 3 others apply for insurance license – NAICOM
The announcement was made on Friday as NAICOM confirmed the names of the companies.
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Cornerstone Insurance to issue bonus shares in view of recapitalisation
The bonus share issuance is subject to shareholders' approval during the company's next Annual General Meeting.
Read moreDetailsDetails of CBN’s new intervention schemes for non-interest financial institutions
The overall objective of these interventions is to promote financial inclusion in the country.
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Nigeria is not our biggest market, it’s our biggest opportunity – Ecobank
They also acknowledged that “Nigeria has a difficult macro environment”.
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Sterling Bank CEO disclose purchase of bank shares
The transactions cumulatively come to a total of N46 million.
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CBN’s Emefiele explains why banks restructured N7.8 trillion loans to customers
CBN had granted a temporary suspension on loan interests and repayment on principal debts.
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Nigerian Banks issue N3.3 trillion in new loans in June 2020
Nigerian banks increased lending in June 2020 despite the effect of the covid-19 pandemic.
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