Wema Bank Plc has approved plans to raise additional N200 billion in combination of Rights & Special Placement to complete Central Bank of Nigeria (CBN) recapitalization requirement. The bank which pioneered Africas first fully digital bank, ALAT, said it will be completing its capital raise through a combination of a Rights issue and Special placement…
The Bank of Industry (BoI) says a well-designed Credit Guarantee Instruments (CGI) will unlock the full potential of Nigeria’s enterprises, laying foundation for a resilient and inclusive economy. Its Managing Director, BoI, Dr Olasupo Olusi, said this in a statement on Monday in Lagos. Olusi, however, noted that a coordinated Public-Private Partnership (PPP) was essential…
One of Africa’s leading integrated payments and digital commerce companies, Interswitch, has announced the winners of the InterswitchSPAK National Science Competition, its flagship Corporate Social Responsibility (CSR) initiative. Now in its 6th year, InterswitchSPAK was introduced to celebrate exceptional young talent as part of Interswitch’s commitment to promoting Science, Technology, Engineering, and Mathematics (STEM) education…
The Nigeria Inter-Bank Settlement System (NIBSS) has said enrollments for the bank verification number (BVN) increased to 64.83 million in January. According to data from the NIBSS, the figure represents an increase of 1.35 million, compared to the 63.47 million recorded in January 2024. The BVN is an 11-digit number unique to each individual across…
The Central Bank of Nigeria (CBN) has unveiled two new digital initiatives—the Document Flow (DocFlow) System and the Ministries, Departments, and Agencies (MDAs) Naira Payment Solution. A statement from the CBN said the initiatives were launched at the CBN Head Office in Abuja on Wednesday, January 15, 2025, and is part of the apex bank’s…
Over 100 lucky customers of the United Bank for Africa (UBA) Plc have shared over N41.8 million in prizes during the lender’s just concluded UBA Legacy Promo series. The promo which began last year, was specially designed by the bank to celebrate UBA’s rich legacy spanning over 75 years, as well as its long-standing commitment…
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has stressed the need for bold reforms and smarter investments to ensure sustainable development across member nations. #He urged the Islamic Development Bank (IsDB) to rethink its development financing approach to address current global economic realities. Edun spoke at the IsDB Governors’…
United Bank for Africa (UBA) Plc is number one in customer service experience and other strategic areas in the banking sector, according to the latest KPMG 2024 West Africa Banking Industry Customer Experience Survey. The bank cemented its position as a leading customer-centric institution, emerging among the top five banks, in various survey’s segmentation. The…
United Bank for Africa (UBA) through UBA Foundation, its corporate social responsibility arm, has donated the sum of N500 million to the Lagos State Security Trust Fund (LSSTF), as part of its continued commitment to secure environment for individuals and businesses The N500million cheque was presented to the Lagos State Governor, Babajide Sanwo-Olu, by the…
