A day after Guaranty Trust Bank (GTBank) transitioned to a new banking application system, customers have expressed concerns over ongoing service disruptions. Speaking with the News Agency of Nigeria (NAN) on Tuesday, customers at various GTBank branches in Lagos, expressed frustration over difficulties in accessing their accounts and completing transactions. NAN correspondent who visited several…
Nigeria lender, Access Holdings Plc, said its subsidiary, Access Bank Plc, has secured a provisional licence from the Bank of Namibia to establish a commercial bank in the country. In a statement to the Nigerian Exchange and the general public, Managing Director/Chief Executive Officer of Access Bank PLC, Roosevelt Ogbonna, explained why the Tier-1 lender…
Stanbic IBTC Bank has restated its commitment to grow the gas sector by increasing its funding requirements. The bank said from storage, production, delivery and even down to the renewable energy side of the divide there were a whole lot of products in place to support the gas value chain. Describing renewable energy as key…
Minister of the Federal Capital Territory (FCT), Mr Nyesom Wike has advised the management of Asset Management Company of Nigeria (AMCON) to be firm and decisive in managing bad loans in the country. Wike gave the advice when the management of the company, led by its Managing Director/Chief Executive Officer, Mr Gbenga Alade, visited him…
National Insurance Commission (NAICOM) has warned that rising inflation in Nigeria remained a major concern for the insurance sector because of its impact on both insurers and the insureds. Commissioner for Insurance/Chief Executive Officer of NAICOM, Olusegun Omosehin who spoke at the Insurance Meets Tech (IMT) 2024 with theme: ‘Revitalising the Insurance Industry to Risk-Manage…
As Nigeria’s banking sector undergoes significant reforms, officials of the Nigeria Deposit Insurance Corporation (NDIC) have been cautioned to be vigilant, especially in their dealings with bank shareholders. His Royal Highness Luka Ayedo Nizasaan (III), the Etsu Kwali, gave the advice during the NDIC’s Special Day at the 19th Abuja International Trade Fair on Monday,…
The Central Bank of Nigeria (CBN) has announced the provision of additional U.S. dollars to Bureau De Change (BDC) operators to boost liquidity in the foreign exchange (forex) market. This decision was communicated through a circular issued by the Trade and Exchange Department of the CBN, titled TED/FEM/PUB/FPC/001/028, yesterday. The circular, signed by Acting Director…
The Nigerian Financial Intelligence Unit (NFIU) has emphasised the importance of fintech operators in combating money laundering and terrorism financing in Nigeria. Dr Muhammad Jiya, Associate Director, Analysis and Compliance at NFIU, said this during the Third Quarter Reguvators Forum Webinar organised by Fintech Association of Nigeria (FinTechNGR). The NFIU official stressed the need for…
