Money Market

Zenith Bank Plc has won the Bank of the Year in Nigeria in The Banker’s Bank of the Year Awards 2022. The award was announced by The Banker Magazine, Financial Times Group, United Kingdom, during the awards ceremony in London on Friday. The award was in recognition of the bank’s strong management, sound business model and strategy, […]

Fidelity Bank Plc has got the approval of its shareholders to issue its unissued ordinary shares by way of the private placement.  This was approved at the Bank’s Extra-Ordinary General Meeting on Thursday, September 29, 2022. The Board of Directors of the Company has been authorised to issue, by way of Private Placement, the 3,037,414,308 unissued Ordinary Shares[…]

Nigerian Banks have announced temporary suspension of overseas Automated Teller Machine (ATM) naira card transactions to preserve foreign exchange reserves. The CBN rate sheet showed the naira exchanges at N430/$1 at the Investors’ and Exporters (I&E) forex window while black market rate was at N710/$, creating N280/$ premium between both rates. Banks’ decision followed consistent dollar scarcity[…]