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UBA, MoneyGram Launch ‘Naija Sends’ Outbound Money Transfer Abroad

By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-Africa’s global lender, United Bank for Africa Plc (UBA) on Monday said it has partnered world money transfer firm, MoneyGram to launch ‘Naija Sends’ outbound… Read more »

Mainstreet to Receive 121.4 Million Units of AMCON Series V Bonds

By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-Acquired Mainstreet Bank Limited will receive holdings of 121,375,422 units of the Asset Management Corporation of Nigeria (AMCON) Series V Bonds (redeemed at par) by… Read more »

UK Export Finance Names Ecobank Nigeria, JPMorgan, others to Deliver £3b Support to Exporters

By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-United Kingdom Export Finance (UKEF), has named Ecobank Nigeria, JPMorgan Chase and 18 other global lenders as its partnering financial institutions to help deliver £3… Read more »

IBFC to examine banking industry outlook

IBFCAlliance Limited says it will examine the banking sector outlook at a seminar scheduled to hold at the Intercontinental Hotel in Lagos on October 21. A statement by the company… Read more »

Naira hits seven-month low despite CBN support

The naira closed at a seven-month low against the dollar on Wednesday. The local currency closed against the greenback at N164.50, despite a Central Bank of Nigeria intervention. This came… Read more »

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 »