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Nigerian banks and other financial institutions news and media website

16/12/2023

President Tinubu vows Investor-friendly policies https://bofipost.com.ng/president-tinubu-vows-investor-friendly-policies/

Efforts to attract foreign investments intensified

16/12/2023

CIBN emphasizes the crucial role of ESG in achieving sustainable business success https://bofipost.com.ng/cibn-emphasizes-the-crucial-role-of-esg-in-achieving-sustainable-business-success/

The Chartered Institute of Bankers of Nigeria - CIBN

Measuring ESG performance is crucial for tracking progress and safeguarding the future.

15/12/2023

https://bofipost.com.ng/sec-shuts-down-alleged-ponzi-scheme-in-abuja/

Securities and Exchange Commission Nigeria

Ready finance sealed for alleged ponzi scheme

15/12/2023

https://bofipost.com.ng/cbn-governor-optimistic-about-nigerias-economy-performance/

Central Bank Of Nigeria CBN Abuja

Economy to thrive, Naira to stabilize, CBN governor assures

14/12/2023

https://bofipost.com.ng/switchto931-unveils-freedom-code-with-kimoprah/

Switchto931

Leading digital bill payment platform, Switchto931, has partnered with popular

10/12/2023

https://bofipost.com.ng/ifc-pledges-1bn-to-boost-clean-energy/

The International Finance Corporation (IFC), a member of the World Bank Group, has announced a $1 billion commitment to support the energy transition in emerging markets, in partnership with the International Renewable Energy Agency (IRENA).

10/12/2023

https://bofipost.com.ng/fake-naira-notes-flood-the-market-cbn-warns/

The Central Bank of Nigeria (CBN) has issued a warning to the public about the circulation of counterfeit Nigerian banknotes.

09/12/2023

https://bofipost.com.ng/ndic-reveals-unassessed-n16-8bn-liquidation-dividends/

Nigeria Deposit Insurance Corporation - NDIC

In a recent announcement during the 44th Kano International Trade Fair themed "Economic diversification, inclusive growth and sustainable development," the Nigeria Deposit Insurance Corporation (NDIC) disclosed that a substantial sum of N16.8 billion in liquidation dividends remains unassessed.

09/12/2023

https://bofipost.com.ng/gabriel-idahosa-appointed-president-of-lcci/

Lagos Chamber of Commerce & Industry (LCCI)

Gabriel Idahosa has been appointed as the President and Chairman of the Council of the Lagos Chamber of Commerce and Industry (LCCI). The announcement was made during the Chamber’s 135th Annual General Meeting (AGM) held in Lagos, marking the beginning of a new era for the prestigious organization...

08/12/2023

https://bofipost.com.ng/news-round-up-for-friday-december-8-2023/

BOFI Posts brings you the round-up of financial and other news stories for Friday, December 8, 2023. Dangote

08/12/2023

https://bofipost.com.ng/nibss-instructs-nigerian-banks-to-remove-fintechs-from-money-transfer-channels/

Nigeria Inter - Bank Settlement System PLC

Nigerian banks have been issued a directive by the Nigeria Interbank Settlement System Plc (NIBSS) to exclude non-deposit-taking financial institutions from their fund transfer channels.

08/12/2023

https://bofipost.com.ng/equities-market-sees-n192bn-declines-in-performance/

In a downturn for the domestic equities market, the All-Share Index (ASI) experienced a negative trend, closing down by 0.49% or 350.72 points at 71,457.92 points.

03/12/2023

https://bofipost.com.ng/autogas-may-boost-nigerias-economy-by-n2trn-experts/

In a bid to rejuvenate Nigeria's struggling economy, key stakeholders have rallied behind the push for widespread adoption of Autogas, asserting that its potential impact could contribute a substantial turnover of approximately N2 trillion.

03/12/2023

https://bofipost.com.ng/access-bank-retail-group-enhances-maternal-health-through-csr-initiative/

Access Bank

In a significant move to contribute to the well-being of mothers and infants, the retail operations group of Access Bank has generously donated a range of crucial medical items to the Badarawa Primary Health Centre.

02/12/2023

https://bofipost.com.ng/fcmb-groups-profit-before-tax-soars-108-to-n55-1bn/

First City Monument Bank

FCMB Group Plc, a leading financial services institution in Nigeria, has announced a remarkable 108% Year-on-Year (YoY) growth in its profit before tax (PBT) to N55.1 billion for the nine months ended September 30,2023.

02/12/2023

https://bofipost.com.ng/cbn-announces-restrictions-on-transactions-for-accounts-without-bvn-and-nin/

The Central Bank of Nigeria (CBN) has announced a significant step towards enhancing the security and integrity of the Nigerian financial system. Effective March 2024, financial transactions on bank accounts that lack both a Bank Verification Number (BVN) and a National Identification Number (NIN) w...

01/12/2023

https://bofipost.com.ng/news-round-up-for-friday-december-1-2023/

BOFI Posts brings you the round-up of financial and other news stories for Friday, December 1, 2023.

01/12/2023

https://bofipost.com.ng/2024-nigerias-budget-low-on-capital-expenditure-allocation-lcci/

Lagos Chamber of Commerce & Industry (LCCI)

The Lagos Chamber of Commerce and Industry (LCCI) has raised concerns over the low allocation to capital expenditure in Nigeria's proposed 2024 budget. According to the chamber, the 12.2% allocation to capital expenditure is significantly lower than that of other African countries, such as South Afr...

01/12/2023

https://bofipost.com.ng/zenith-bank-partners-with-cfa-institute-to-enhance-human-capital-in-finance/

Zenith Bank Plc

Zenith Bank Plc has entered into a Memorandum of Understanding (MoU) with the Chartered Financial Analyst (CFA) Institute to collaborate on initiatives that promote the education and development of finance and investment professionals in Nigeria.

30/11/2023

https://bofipost.com.ng/access-pensions-empowers-nigerian-youth-with-financial-literacy-training/

In a significant step towards fostering financial literacy among the younger generation, Access Pensions has launched an educational initiative to provide comprehensive financial literacy training to secondary and primary school students across Nigeria.

30/11/2023

https://bofipost.com.ng/cbn-restructures-top-management-backs-review-of-enabling-act-bofia/

In a significant move to revitalize the Central Bank of Nigeria (CBN), Governor Olayemi Cardoso has reportedly initiated a comprehensive staff audit and redeployment of top officials.

25/11/2023

https://bofipost.com.ng/central-bank-of-nigeria-announces-plans-to-increase-capital-base-of-banks/

In a move to bolster the financial strength of Nigeria's banking sector, the Central Bank of Nigeria (CBN) has announced plans to increase the capital base of banks operating in the country.

25/11/2023

https://bofipost.com.ng/nigerian-naira-stages-dramatic-comeback-surging-over-20-against-dollar/

In a surprising turn of events, the Nigerian naira staged a remarkable comeback against the dollar, appreciating by over 20% to close at N794.89/$1 at the official market on Friday, 24th November 2023.

24/11/2023

https://bofipost.com.ng/bank-of-industry-boi-expands-access-to-funding-for-msmse/

The Bank of Industry (BoI) has reaffirmed its commitment to supporting micro, small and medium enterprises (MSMEs) across Nigeria. Speaking at a recent workshop on the Nigeria COVID-19 Action Recovery and Economic Stimulus (NG CARES) programme, BoI Managing Director Olukayode Pitan encouraged MSMEs....

24/11/2023

https://bofipost.com.ng/jaiz-bank-chairman-urges-nndc-to-strategically-reposition-for-renewed-growth/

In a recent address at the launch of the New Nigerian Development Company's (NNDC) Code of Ethics and Business Conduct, Jaiz Bank Plc Chairman Mohammed Mustapha Bintube called upon the company to embark on a strategic repositioning to regain its footing as a leading facilitator of economic developme...

23/11/2023

https://bofipost.com.ng/wema-bank-secures-50-million-credit-facility-from-ecowas-bank-to-empower-women-and-agriculture/

WEMA Bank has signed a $50 million credit facility with the ECOWAS Bank for Investment and Development (EBID) to support and promote empowerment initiatives for its customers, particularly in the areas of women and agriculture.

23/11/2023

https://bofipost.com.ng/nnpcl-targets-n2-trillion-profit-increase-in-2022-audited-financial-statements/

The Nigerian National Petroleum Company (NNPC) Limited is targeting a profit increase of N2 trillion when the 2022 audited financial statements are released, according to the Group Chief Executive Officer (GCEO) of the company, Mele Kyari.

22/11/2023

https://bofipost.com.ng/naira-fails-to-benefit-from-weak-dollar-amid-structural-issues/

The Nigerian Naira has been unable to capitalize on the recent decline of the US dollar due to persistent structural problems plaguing the Nigerian economy.

22/11/2023

https://bofipost.com.ng/cbn-postpones-monetary-policy-committee-meeting-again/

For the second consecutive time this year, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has postponed its statutory meeting. The meeting was originally scheduled to be held on Monday and Tuesday of this week.

21/11/2023

https://bofipost.com.ng/baobab-nigeria-reaches-n37b-loan-size-launches-new-branch-in-benin/

Baobab Nigeria, a leading microfinance bank in the country, has announced that it has reached a loan book

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