Category: Money Market

A New dimension of Armed robbery at ATMs Locations

An automated teller machine (ATM) is an electronic telecommunications device that enables customers of financial institutions to perform self financial transactions, such as cash withdrawals, deposits, transfer funds, or obtaining account information, at any time and without the need for direct interaction with bank staff According to some media reports, armed robbery at ATMS locations…

Fall out of CBN’s Circular on Retained Earnings, Dividend Payout by Banks  

The central Bank of Nigeria, CBN said in its recent amended circular that globally, retained earnings have been identified as an important source of growing an institution’s capital. The circular which was signed by Ahmad Abdullahi, Director, Banking supervision department in the central bank contained some advantages of retained earnings include: being a source of…

UBA Contactless Cards Hit Industry High of Three Million

  ………Over 10m Debit Card  Issued Pan-African financial institution, United Bank for Africa (UBA) Plc, has again demonstrated its superiority in the Nigerian e-Banking space with the  issuance of over three million Near Field Communication (NFC) technology enabled  contactless cards to its teeming customers.   UBA has revolutionised the payments landscape in Nigeria in 2015,…

SEC Targets Increased Level of  Financial Inclusion by 2020

 L-R,   Research Department, National Pension Commission Mr Lasbery Lot, Representative of the Acting Director General Securities and Exchange Commission, Mr. Abdul Bello and Data Analyst Central Bank of Nigeria, Dr. Gazali Mohammed during the Financial Inclusion Sensitisation Programme held in Abuja at the weekendThe Securities and Exchange Commission (SEC) has said that it aims to…

FG releases pricing for $2.5bn fifth Eurobond

The Federal Government on Thursday announced that it had priced its offering of $2.5bn aggregate principal amount of dual series notes under its Global Medium Term Note Programme. The Notes comprise a $1.25bn 12-year series and a $1.25bn 20-year series. A statement released on Thursday night by the Ministry of Finance said the 12-year series…

Ecobank fintech boosts financial inclusion in Africa.

Fintech is boosting financial inclusion across Africa, according to Ecobank. Although over 80% of Africans have mobile phones, only around one quarter (28%) of them have a bank account. But mobile banking and e-wallets are helping to break the banking logjam, offering a range of alternative payment methods as well as lending and savings services.…