Separated staff were adequately compensated – Heritage Bank

Heritage Bank has said that it is restructuring its workforce, but it is also “adequately compensating” affected members of staff. The bank, which sacked...

Favourable conditions will aid Naira value – ABCON

The President of the Association of Bureau de Change Operators of Nigeria (ABCON), Alhaji Aminu Gwadabe, believes the naira has the potential to improve...

LCCI thrashes CBN for inflation fixation

The Lagos Chamber of Commerce and Industry (LCCI) has trashed the outcome of last week’s Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC)...

Interbank rate closes at 11.5%, as securities payment drain liquidity

Interbank lending rate at the end of market operations last week closed at 11.5 percent from 7 percent the previous week. The rate spike...

MasterCard announces new payment app

MasterCard has announced the roll out of the Identity Check Mobile, a new payment technology application that uses biometrics, including fingerprint and facial recognition,...

Alibaba’s Ant Financial buys MoneyGram for $880m

Ant Financial, the digital payments arm of e-commerce giant Alibaba, is buying US-based MoneyGram for $880 million (£700 million).MoneyGram has about 350,000 outlets in...

Digitization Will Propel Diamond Bank to Greater Profitability – Dozie

Following strong growth in Diamond Bank’s balance sheet and tremendous upsurge in assets from N1.52trillion to N1.93trillion, Group Managing Director and Chief Executive Officer,...

FG sells N173bn Treasury bills at steady yield

The Central Bank of Nigeria (CBN) sold N172.85 billion ($550 million) treasury bills on Wednesday with yields unchanged from the previous auction, held in the third...

UBA Boosts Kenya Power with $10m Facility

United Bank of Africa (UBA) has given a US$10 million loan facility boost to Kenya Power Company’s target of distributing 5,000MW by 2017. The loan...

Skye Bank Warns against Neglect of MSME Sector

Skye Bank has warned against neglecting the Micro Small and Medium Enterprises (MSMEs) in the country, noting that any act of complacency over issues...