Category: Money Market

Alleged N4.75bn, $5m fraud: Court Admits Former Skye Bank Chairman, MD

…Each gets N50m bail The Managing Director of the defunct Skye Bank, Timothy Oguntayo and Chairman defunct Skye Bank Plc, Dr Tunde Ayeni The Federal High Court, Abuja Monday admitted former Chairman of the Board of now defunct Skye Bank Plc, Dr Tunde Ayeni, and the Managing Director of the Bank Timothy Oguntayo to bail…

CBN: Finance Houses can access N220b MSME cash

The Central Bank of Nigeria (CBN)  said  Finance Houses can now access N220 billion Micro Small and Medium Enterprises Development Fund (MSMEDF). But accessing the fund comes with a caveat: The operators are to provide regulatory examination report from the CBN or Nigeria Deposit Insurance Corporation (NDIC) as well as audited accounts. Speaking at the…

Diamond Bank, Access Bank Issue Statement to Scheme of Merger

The Board of Diamond Bank Plc (“Diamond Bank”) today announces that following a strategic review leading to a competitive process, the Board has selected Access Bank Plc (“Access Bank”) as the preferred bidder with respect to a potential merger of the two banks (“the merger”)that will create Nigeria and Africa’s largest retail bank by customers.…

Zenith Bank promotes social activities

Zenith Bank Plc has said it is set to promote social activities and entertainment during in the forthcoming festive season with the launch of its ‘Style by Zenith’ programme. The bank, in a statement, described the programme as a flagship lifestyle, beauty, fashion, accessories and entertainment fair. According to the statement, the programme is organised…