30 results
- 2 Mar 2014
Oradian to Grow Nigeria Microfinance Banks’ Fortune with Instafin
Oradian, a renowned IT solutions provider said that with technology designed specifically for financial inclusion by experienced practitioners, it will boost the fortunes of microfinance institutions…
- 8 Oct 2023
NDIC Pays 29,573 Depositors of Closed MFBs, PMBs
Mr Bello Hassan, managing director, Nigeria Deposit Insurance Corporation (NDIC), has said it has paid about N1.084 billion to 29,573 depositors of recently-closed microfinance banks and Primary…
- 12 Dec 2023
Why Some Nigerian Banks Failed - Ibrahim
Umaru Ibrahim, immediate past managing director and chief executive officer, Nigerian Deposit Insurance Association (NDIC), has said that some Nigerian banks failed because of non-compliance with…
- 2 Oct 2023
NDIC Begins Payment of N16.18Bn to Liquidated Banks’ Depositors
Nigeria Deposit Insurance Corporation (NDIC) has declared N16.18 billion liquidation dividends to depositors, creditors and shareholders of 20 banks in-liquidation. This followed impressive…
- 7 Dec 2023
NDIC to Pay N16.18Bn Liquidation Dividends to Depositors of 20 Failed Banks
Nigeria Deposit Insurance Corporation (NIDC), has asked depositors of 20 failed banks to come forward and claim their liquidation dividends amounting to N16.8 billion. Bello Hassan, managing director…
- 21 May 2014
‘Wonder Bank’ Operator Defrauds Victims of N9.8Bn
Justice Ibrahim Buba of the Federal High Court Lagos was told by prosecution witness, Matthew Chukwu, how an alleged, “Wonder Bank” Operator, Fortune Etaba, defrauded his victims of N9.8 billion.…
- 29 Mar 2018
AfDB Champions Africa’s Premier Investment Marketplace for Economic Transformation
To help Africa find the path to its long-deserved economic fortune, the African Development Bank is championing the region’s premier investment market. The Bank is providing collaborative leadership…
- 2 Aug 2020
Elumelu Advocates Collaborations to Boost Africa's Fortunes
Tony O. Elumelu, group chairman, United Bank for Africa (UBA) Plc, has said that the Corona virus pandemic has presented a perfect opportunity for foreign investors to invest in Africa, owing to the…
- 25 Feb 2020
NDIC Lists Reasons for Collapse of Nigerian Banks
Nigerian Deposit Insurance Corporation (NDIC) has listed factors responsible for collapse banks in the country including; massive insider abuses by their owners; poor corporate governance…
- 23 Feb 2020
NDIC Liquidates 425 Banks in 22 Years
Nigeria Deposit Insurance Corporation (NDIC) at the weekend said it participated in the liquidation processes of 425 financial institutions in the country since it was established in 1988. A…
- 19 Mar 2013
CBN Worries as Oil Fortunes Dwindles, GDP Contrasts to 6.58%
The Central Bank of Nigeria’s (CBN’s) monetary policy committee has stated that the Nigerian gross domestic product (GDP) rate declined from 7.43 per cent in 2011 to 6.58 per cent in 2012. Arising…
- 1 Mar 2024
Savannah Bank not Liquidated, Still Licensed - NDIC
Nigeria Deposit Insurance Corporation (NDIC), has said that Savannah Bank is not liquidated. It consequently urged depositors of the bank to keep their account documents, as their bank is still…
- 15 Nov 2023
Five Millionaires Emerge in Polaris Bank's ongoing ‘Save & Win’ Promo
Five lucky Nigerians at the weekend hit a fortune when they emerged Millionaires in the ongoing Polaris Bank Save & Win Promo. The live quarterly draw of the ongoing Polaris 'Save & Win'…
- 29 Jan 2018
Standardization, the Watchword in Data Centre Operations as Customers Become More Savvy- Egboye
It is a great thing that the government requesting that data should be hosted in the country, and that is what is done globally. For us, it has been a blessing, because it has increased our footprint…
- 31 Mar 2019
Keystone Bank Appoints Abubakar Danlami Sule as Acting MD/CEO
Keystone bank has announced the resignation of Mr. Obeahon Ohiwerei from office as Managing Director/CEO of the Bank, and the appointment of Mr. Abubakar Danlami Sule as Acting Managing Director/CEO.…
- 2 Apr 2015
External Reserves Fall by $1.6Bn in March
The declining fortunes of the nation’s external reserve continued last month, as it fell by $1.55 billion during the month. Data published by the Central Bank of Nigeria (CBN) indicated that the…
- 24 Jun 2015
Finance Sector e-Attacks 300 Times Higher Than Other Industries
Financial institutions are attacked by electronic fraudsters (e-Attacks) at a staggering 300 times more frequently than sectors, according to Websense. Websense, a security vendor asserted in its…
- 10 Apr 2017
McAfree Now a Standalone Company, Implications for Cybersecurity Industry
McAfee, the globally trusted security provider, has commenced operating as a new standalone company. As a standalone business, McAfee is one of the world’s largest pure-play cybersecurity firms.…
- 22 Jun 2009
New Management Takes over at Wema Bank
Wema Bank has announced the assumption of duty by a new management team led by Mr. Segun Oloketuyi. This follows the successful acquisition of 40% of the bank’s shares by new core…
- 15 Jun 2009
Lafferty Calls for Retail Banking Revolution in Nigeria
Michael Lafferty, Chairman, Lafferty Group has called for a retail banking revolution in the Nigerian banking industry. He said bank CEOs, board of directors, regulators and politicians should…
- 23 Mar 2016
Consumers Cry, Urge Regulators to Act
World Consumers’ Right Day has come and gone but the recently held consumer forum in Lagos offered an opportunity to discuss various issues which every consumer is daily confronted with while doing…
- 28 Dec 2021
Fidelity Bank Empowers Small Business Owners
Fidelity Bank has reiterated its commitment to empowering small business owners. In doing this, the bank rewarded its customers in it’s Get Alert in Millions Season five (GAIM five) campaign. At…
- 19 Nov 2016
Red Hat Appoints Converge Global Concept Technologies West African Premier Partner
Red Hat, Inc the world's leading provider of open source solutions, has announced the appointment of Converge Global Concept Technologies as its first Premier Partner in West Africa. Converge Global…
- 12 Aug 2020
Liquidation of Fortis MFB Adhered to Guidelines- NDIC
Nigeria Deposit Insurance Corporation (NDIC) said it adhered to statutory guidelines on the resolution and liquidation of Fortis Microfinance Bank (MFB) and the protection of interest of depositors.…
- 22 Apr 2025
How Nigerian Banks Earned N14.26 Trillion in Interest Income in 2024
Nine leading Nigerian banks collectively generated N14.26 trillion in interest income in 2024, reflecting a 119.55% increase from N6.49 trillion in 2023. This surge is attributed to the Central Bank…
- 29 Oct 2024
Reps Seek Tougher Sanctions for Banks over Unauthorised Transactions, Others
House of Representatives on Tuesday passed into second reading, a bill seeking to protect victims of fraudulent withdrawal from bank accounts. They overwhelmingly supported the proposed legislation,…
- 22 Jun 2009
Skye Bank, Others Fund $240m Sub Marine Cable Project
Skye Bank Plc and two other financial institutions have signed a $240 million loan agreement with Main One Limited for the financing of the sub marine cable system which will lead to improved…
- 18 Aug 2014
Shareholders Demand mores Shares in Diamond Bank
Shareholders of Diamond Bank in Owerri, Imo State, have expressed readiness to buy more than their allotted shares in the ongoing N50.37 billion Diamond Bank’s rights issue, even as they requested…
- 9 Apr 2015
CBN Barks, to Publish Names of Chronic Bank Debtors
Central Bank of Nigeria (CBN) said it would publish the names of chronic bank debtors and waxed worriedly about the growing amount of non-performing loans in the books of banks in the country. The…
- 8 Sept 2008
Oceanic Bank Buys MTS FirstWireless, Prestel
MTS FirstWireless, trapped in the debris of protracted boardroom squabbles has got a breather, thanks to fresh take over bid by Oceanic Bank Plc, one of Nigeria’s leading financial…