Business

• Non-compliant bank’s Boards may be removed The Central Bank of Nigeria (CBN) and the Office of the Attorney General of the Federation (OAGF) have approved new administrative sanctions regime against banks and their staff who fail to comply with anti-money laundering and terrorist financing regulations. The new rule, signed by CBN Director, Financial Policy and Regulations, Kelvin Amugo, requires …

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As part of efforts to increase the number of its consumer loans, Sterling Bank Plc has launched a new consumer loan initiative known as ‘Specta.’ Speaking recently at a media briefing in Lagos, the Head, Value Chain Banking, Sterling Banking, Benedicta Sadoh,described ‘Specta’ as a retail loan lending platform that ensures that customers have access to personal loan product within five minutes of profiling, adding that …

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FirstBank of Nigeria Limited has announced the introduction of a contactless naira MasterCard to its array of debit cards. The move, according to the bank, was to promote convenience, ease of transactions and the security of funds. According to a statement from the bank, FirstBank debit cards are acceptable nationwide and globally,adding that they can be used to withdraw cash and access value added …

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Wema Bank Plc., Nigeria’s innovative Bank which pioneered the country’s first digital bank ALAT has announced that it is taking some of its customers to Russia this June. The promotion, which will reward a selected number of customers have saved at least N100,000 in their Wema Savings Accounts or ALAT Account over a period of 30 days with a trip …

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The Nigeria Customs Service Board (NCSB) has confirmed  the appointments of four members of Nigeria Customs Service (NCS) management and approved the promotion of 1,997 senior officers to various ranks. The promotion which is effective from January 1, 2017 is according to the Nigeria Customs Service (NCS) based on cumulative scores of annual evaluation, written examination, oral interview, seniority and …

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Heritage Bank Plc, Nigeria’s most innovative banking service provider, has hosted the May 2018 edition of the bankinng technique and practice meeting of the International Chamber of Commerce Nigeria. The meeting held at the Victoria Island Office of the financial powerhouse attracted representatives of the ICC Nigeria as well as the experts on the trade desks of different banks operating in …

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Diamond Bank Plc Full Year 2017 financial results released on the floor of the Nigerian Stock Exchange (NSE) on Friday showed mixed fortunes in key performance metrics. The report and accounts for the Bank’s operations for the twelve months of the business year obtained by our correspondent, show significant growth in gross earnings which rose by 9% year to year …

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The chairman of Caverton Offshore Support Group Plc Mr Aderemi Makanjuola said the company’s major project which is the Maintenance Repair and Overhaul (MRO) project which is still under construction will be completed in the last quarter of 2018 and fully operational in 2019. Makanjuola, while addressing shareholders at the company 9th Annual General Meeting (AGM) in Lagos, explained that the …

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Former President Olusegun Obasanjo says the ruling All Progressives Congress is taking Nigerians for fools while “revelling in an unrepentant misgoverning of Nigeria.” This is coming as the promoter of the Coalition for Nigeria Movement also disclosed that the movement had adopted the African Democratic Congress as a political platform to actualise its dream for a new Nigeria. Obasanjo said …

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Instagram is down for users across the globe. Users are reporting that the social media service’s app and website are not loading pictures or the news feed. More than 1,200 disgruntled users have logged issues with the website Downdetector, which tracks website and app outages. Areas hit hardest include eastern parts of the United States, mainland Europe and southeastern regions …

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