BANKING

Softbank Invests $400m in Nigeria’s mobile-payments platform Opay - SoftBank Vision Fund 2 led a $400 million funding round for OPay, valuing the Nigerian mobile-payments platform at $2 billion and marking...

FirstBank empowers small businesses With N500,000 Grant – Official: FirstBank of Nigeria Ltd on Sunday announced an N500,000 business grant to five Small and Medium Enterprises (SMEs), through its SMEConnect initiative...

Eight Nigerian Banks Lose N1.9bn To Fraud In One Year - Eight deposit money banks in Nigeria lost a total of N1.9bn as a result of fraudulent incidents last year, data...

Nigerian banks’ profits drop by N482b as CBN restricts N9.5tr deposits - Twenty commercial banks and five merchant banks’ profits dropped by N482 billion in 12 months over N9.5 trillion cash...

CBN places limit of N1m per transaction for microfinance banks loan - The Central Bank of Nigeria (CBN) has pegged maximum loan limit for Microfinance Banks (MfBs) at N1 million per...

FCMB grants N3b loan to Lagos waste managers Association - First City Monument Bank (FCMB) has granted N3 billion loan to the Association of Waste Managers of Nigeria (AWAMN) in Lagos ...

Stanbic IBTC launches SME Capacity Building series to train 3,500 entrepreneurs - Stanbic IBTC has established the SME Capacity Building series, which has trained over 3,500 entrepreneurs in the country. The...

Access Bank tightens security of customers’ funds after hacker claimed the bank is most vulnerable - Access Bank have reacted to reports that a hacker alleged that the bank is the...

Nigeria’s central bank freezes company accounts over alleged fraud - The Federal High Court, Abuja has granted the request of the Central Bank of Nigeria to freeze the accounts of some...

Why Fraudsters prefer to hack Access Bank customers’ accounts - Access bank has been identified as the preferred bank by internet fraudsters because it is less secured than any other bank...