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Fitch Says Nigerian Banks Doing Well Despite Hurdles

AMCON Levy Worsened bank earnings By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-Global rating agency, Fitch Ratings on Wednesday gave Nigerian banks pass mark despite the twin hurdles of tight monetary policy… Read more »

Islamic Finance: Oman Adopts Nigeria’s Approach, Sets up Central Sharia Board

By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-In its bid to boost Islamic finance in the Gulf region, the Oman central bank on Wednesday said it has set up a central sharia… Read more »

Standard Chartered to Recruit 1,000 Extra Staff in Africa

By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-Standard Chartered Bank on Tuesday said it will recruit about 1,000 more staff to its workforce in Africa in the next few years, according to… Read more »

Global Banks Face 25% Loss-Absorbency Rule in FSB Plan

Oct 7, 2014/Bloomberg The largest global banks will have to hold more capital and liabilities than previously reported that can automatically be written off in a crisis — as much… Read more »

Ecobank CEO May Not Seek Extension, Says Board to Commence Search for Replacement

By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-Albert Essien, chief executive officer of Pan-Africa lender, Ecobank Group said on Sunday that he would not seek an extension to his tenure and that… Read more »

Ecobank to Halt Africa Expansion-CEO

By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-Pan-African lender Ecobank Group has said it will halt its strategy of rapid expansion across Africa and focus on existing businesses, especially in Nigeria, Ghana,… Read more »

AMCON Names Skye Bank Buyer of Mainstreet

By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-The Asset Management Corporation of Nigeria (AMCON) on Saturday named mid-tier lender, Skye Bank Plc as buyer of nationalised bank, Mainstreet Bank Limited, the Corporation… Read more »

Union Bank Awarded with PCI DSS Certification

Press Release LAGOS- October 3, 2014 – Union Bank of Nigeria Plc is now certified with the Payment Card Industry Data Security Standard (PCI DSS). PCI DSS is a global… Read more »

E.C.B. Leaves Key Interest Rate Unchanged

The European Central Bank on Thursday left its benchmark interest rate unchanged, a decision overshadowed by anticipation about plans to begin purchasing private-sector assets this month as a way to… Read more »

Foreign reserves fall to $39.56bn

The country’s external reserves have fallen by 0.15 per cent to $39.56bn this month, according to latest data from the Central Bank of Nigeria. The reserves had stood at $39.62bn… Read more »