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JenneteUgo Anya
- December 18, 2024
SEC, CBN Sanction 10 Firms For Regulatory Infractions, Fines Hit N1.5bn
In a decisive move to uphold compliance standards, the Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN) have imposed fines totalling N1.502 billion on 10 deposit money banks (DMBs) and other listed organisations for various regulatory violations. These penalties were enforced within the first half of 2024, shedding light on the […]
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- November 14, 2024
Lotus Bank Exceeds CBN’s Capital Requirements
Lotus Bank Limited, Nigeria’s non-interest bank, has confirmed that it has surpassed the Central Bank of Nigeria’s (CBN) newly set minimum capital requirements. This achievement, attained prior to CBN’s recent adjustment of the capital base for non-interest banks, highlights Lotus Bank’s financial stability and readiness to serve as a national bank. The new capital requirements […]
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- November 13, 2024
UBA Appoints Ugboh As Independent Non-executive Director
United Bank for Africa (UBA) Plc has announced the appointment of Mrs. Henrietta Ugboh as an Independent Non-executive Director, following the retirement of Mrs. Owanari Duke from the Group Board. The appointment has received necessary regulatory approvals, including from the Central Bank of Nigeria. UBA’s Group Chairman, Mr. Tony Elumelu, commended Mrs. Ugboh’s proven record […]
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- October 21, 2024
Zenith Bank Assigns Abiodun Durosinmi As New CFO
Zenith Bank Plc, one of Nigeria’s largest and most reputable financial institutions, has officially appointed Mr. Abiodun Durosinmi as its new Chief Financial Officer (CFO), effective since October 14, 2024. This appointment comes after the recent approval from the Central Bank of Nigeria (CBN), further strengthening the bank’s leadership team. Mr. Durosinmi succeeds Mr. Mukhtar […]
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- September 20, 2024
CBN Designates Lady Chuwudozie As Chair Of Keystone Bank
The Central Bank of Nigeria (CBN) has appointed Lady Ada Chukwudozie as the Chairperson of Keystone bank’s newly reconstituted Board. The recent announcement also includes the appointment of seven other new board members. Lady Chukwudozie, a well-regarded figure in Nigeria’s corporate sector with nearly 30 years of experience, will lead the board. Her career spans […]
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- September 2, 2024
How Banks Regulatory Scrutiny Boosts Investors’ Confidence
The formation of a tripartite committee by the Central Bank of Nigeria (CBN), the Securities and Exchange Commission (SEC), and the Nigeria Deposit Insurance Corporation (NDIC) to scrutinise the new capital being raised by banks marks a significant development in Nigeria’s banking sector. This action is not just a regulatory necessity but also a critical […]
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- September 2, 2024
African Banks Invest N575.62bn To Boost MSMEs, Retail Sectors
Several leading banks in Africa are set to invest N575.62 billion to support micro, small and medium sized enterprises (MSMEs) across the continent. This move is part of their effort to meet new capital requirements set by the Central Bank of Nigeria (CBN). Access Holdings, Fidelity Bank, Guaranty Trust Holding (GTCO), FCMB Group, and Zenith […]
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- August 7, 2024
CBN Approves Merger Between Unity Bank, Providus Bank
The Central Bank of Nigeria (CBN) has officially approved the merger between Unity Bank Plc and Providus Bank Limited. This landmark decision marks the first merger under the new CBN mandate for banks to bolster their capital bases, aiming to fortify the stability of Nigeria’s financial system. The merger is now pending approval from the […]
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- August 6, 2024
CBN To Implement FX Dutch Auction System To Stabilise Market
In a strategic move to address the persistent foreign exchange (FX) fluctuations in Nigeria’s forex market, the Central Bank of Nigeria (CBN) has announced the introduction of a Retail Dutch Auction System. The system is scheduled to commence on Wednesday, 7 August 2024. This decision comes in response to the significant increase in demand for […]
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- July 29, 2024
Fidelity Bank Extends Offer Period Amid Capital Raise Initiative
Fidelity Bank Plc has announced an extension of its ongoing combined offer, comprising a public offering and rights issue, until August 12, 2024. This extension, approved by the Securities and Exchange Commission (SEC), allows investors additional time to participate in the bank’s capital-raising efforts, initially set to close on July 29, 2024. The combined offer, […]
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