The Central Bank of Nigeria (CBN) under the leadership of Governor Yemi Cardoso is planning a significant restructuring that involves relocating major departments from the Abuja headquarters to the former headquarters in Lagos, southwest Nigeria. This decision, however, has stirred discontent among staff members, particularly married women, leading to internal […]
BANKING
Moruf Oseni’s Wema Bank faced N8.067 billion in court cases as of September 2023, coupled with a loss of N239.920 million due to fraud and burglary during the nine-month period ending September 2023. The recently released financial statement to the Nigerian Exchange Group unveiled these challenges. However, the […]
On Tuesday, the Group Managing Directors (GMDs) of Zenith, Providus, and Jaiz banks responded to the invitation from the Economic and Financial Crimes Commission (EFCC). They cooperated by submitting documents pertaining to accounts held by the Ministry of Humanitarian Affairs to the anti-graft agency. Following the handover of the documents, […]
Two major awards from the prestigious 2023 Brandcom Awards served as a remarkable testament to Moniepoint’s unmatched achievements to Nigeria’s financial services industry. With the “Award for the Most Outstanding Fintech Company in Financial Inclusion,” Moniepoint Inc. won praise from critics, and Moniepoint Microfinance Bank took home the “Award for […]
MoMo Payment Service Bank (MoMo PSB), a leading financial institution, and Kwik Delivery, a prominent logistics and warehousing company in Africa, are excited to announce their strategic partnership to facilitate seamless payments using MoMo for deliveries by Kwik. The partnership represents a significant milestone in the logistics and payment services […]
On his part, Executive Director of Retail and Digital Business, Wema Bank, Tunde Mabawonku, said the innovation would empower the bank’s clientele to embrace a wider Enza’s innovative Payment Orchestration will enable Wema Bank to provide secure and reliable payment options at a reduced cost. Enza, a new disruptor in […]
Interpol has said 208 bank accounts have been blocked, and 103 individuals connected to online financial fraud arrested in West African organised crime. The international criminal police organisation revealed that more than 200 bank accounts linked to the illicit proceeds of online financial crime were blocked during the operation. It […]
A 40 year-old banker, Andrew Nwadiashi and eight internet fraudsters has been convicted and sentenced to prison by Justice M. Itsueli of the Edo State High Court sitting in Benin City. The others are Osawa Marvellous, Etinosa Ogieva, Erharruyi Osaigbovo, Isaac Godstime Eghosa, Obasohan Kelvin, Evans Jessa Mike, Timothy Odion […]
The directors and associates of Union Bank of Nigeria, Stanbic IBTC Holdings, Sterling Bank and Access Holdings were granted N112.77bn loans in 2022, an analysis of the financial statements of the lenders has shown. The banks’ financial year results and accounts for the period ended December 31, 2022, showed that […]
Bankly, a fintech company, has announced the launch of Bankly Microfinance Bank and a group savings feature on its app. Speaking recently in Lagos, the co-founder and Chief Executive Officer of Bankly, Tomilola Majekodunmi, said the microfinance bank was established to deliver straightforward banking solutions to diverse customers. Majekodunmi said, “We […]