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Nigeria’s Wema bank plans equity raise next year to bolster capital ratio

20/7/2017/Reuters By Chijioke Ohuocha Nigeria’s Wema Bank plans to raise equity next year to bolster its capital ratio and cut its operating costs as its new digital strategy gains traction,… Read more »

Two Nigerian banks say do not owe government money

20/7/2017/Reuters Nigeria’s United Bank for Africa said it has paid the government all the money due to it, its spokesman said on Thursday. Fidelity Bank said it did not owe… Read more »

IMF Approves in Principle €1.6 Billion Facility for Greece

July 20, 2017/IMF The Executive Board of the International Monetary Fund (IMF) today approved in principle an SDR 1.3 billion (about €1.6 billion, US$ 1.8 billion, or 55 percent of… Read more »

Court Orders Seven Banks To Remit $793m To TSA

July 20, 2017/The Will By Ugochukwu Ugwuanyi Seven commercial banks in the country have been ordered by a Federal High Court in Lagos to temporarily remit a total of $793,… Read more »

MPC to Maintain Status Quo as Economic Metrics Lean Towards Growth

Culled—Proshare July 20, 2017/FSDH Research    The fourth Monetary Policy Committee (MPC) meeting for the year is scheduled to hold on the 24th and 25th of July, 2017. The Committee will… Read more »

Current Account Comfortably in Surplus

Culled—-Proshare July 20, 2017/FBNQuest Research We observe from the balance of payments for Q1 2017 that the current-account surplus eased gently from the equivalent of 3.5% of GDP to 3.4%…. Read more »

Unity Bank explains the initiative behind the Resolution of its Legacy NPLs

Culled—Proshare July 20, 2017/Unity Bank Plc In its bid to clean up its loan book, Unity Bank Plc has taken far-reaching measures and initiatives for the resolution of its Non-Performing… Read more »

MPC Considerations and Policy Options – Time for Monetary Policy Reversal?

Culled—Proshare July 20, 2017/FSDH Research We expect the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) to hold rates at the current levels when the Committee meets… Read more »

Mastercard Expands QR Payments Choice

July 19, 2017/Mastercard Mastercard today outlined plans for greater choice in retail payments through the planned expansion of its QR-based programs. Beginning this month, the company will broaden its solutions… Read more »

UBA Increases International Spend Limit on Naira Cards to $2000

July 19, 2017/UBA Plc Pan-African financial institution, United Bank for Africa (UBA) Plc has announced an immediate upward review of the monthly international spend limit on its debit and prepaid… Read more »