Browsing Tag
Banking
48 posts
Alert Microfinance Bank expands asset base to N50 billion despite economic hurdles
Alert Microfinance Bank has scaled its assets to N50 billion in three years, citing a strategic focus on financial inclusion and increased credit demand despite economic headwinds.
Experts Warn Inflation and Policy Shifts Threaten Economic Gains
Financial analysts report that while Nigeria's stock market is poised for growth in late 2026, rising inflation and inconsistent policies remain significant threats to ongoing economic reforms.
Banking and Consumer Goods Sectors Drive Stock Market Growth
Renewed demand for banking and consumer goods stocks helped drive a weekly market rebound, with total capitalization rising to N157.057 trillion.
Nigerian Banks Reduce Sectoral Lending by N5.4 Trillion
Deposit money banks in Nigeria cut lending to eight major sectors by N5.45 trillion in 2025, largely due to the Central Bank of Nigeria ending its regulatory forbearance policy.
Providus Bank clients threaten departure following widespread card security breaches
Disgruntled Providus Bank customers are threatening to abandon the institution after alleged card security breaches resulted in significant financial losses and the bank failed to provide a clear response.
Chidioka pushes for Onitsha to become banking hub for South-East
Former Minister Osita Chidioka has called for South-East governors to incentivize banks to move their headquarters to Onitsha, aiming to improve regional credit access and boost local economic growth.
NDIC Appointed Liquidator for 46 Failed Microfinance Banks
Following the revocation of licenses for 46 microfinance banks by the CBN, the NDIC has stepped in to manage their liquidation and warned the public against illegal transactions with these failed institutions.
Halifax Brand to End After 173 Years
Lloyds Banking Group will phase out the Halifax brand, transitioning accounts to the Lloyds name by 2027 while maintaining local operations and staffing levels.
Central Bank of Nigeria Withdraws Operating Permits for 46 Microfinance Banks
The Central Bank of Nigeria has stripped 46 microfinance banks of their licenses for failing to meet regulatory obligations, including capital requirements and operational mandates.
United Bank for Africa Distributes Over N400 Million in Bumper Account Bonuses
United Bank for Africa has rewarded thousands of its Bumper Account holders with over N400 million in bonuses to celebrate their commitment to consistent saving.