May 9, 2021
  • May 9, 2021

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Polaris Bank profit rises 4% to N28.9 bln in 2020 FY

by on April 26, 2021 0
Polaris Bank Limited has posted a four percent increase in its Profit Before Tax (PBT) to N28.9 billion in its financial year ended December 2020. The bank in a statement on its 2020 financial results said that the increase in profitability is driven by the combination of the significant reduction in interest expense due... Read More

Dollar shortage presents significant risks to banks in Nigeria ~Fitch

by on December 2, 2020 0
The effect of dollar shortage in the Nigerian economy may pose major risks to commercial lenders in Africa’s biggest economy, Fitch Rating has said. The rating agency said though the foreign currency liquidity risks have not materialised among Nigerian banks, nonetheless, it could pose a threat to their stability. Nigeria is currently facing dollar... Read More

Nigeria government hunts #endsars sponsors, frozen bank accounts

by on November 4, 2020 0
By GFDNews Correspondent Nigeria officially begins major hunting of people suspected to have supported the recent campaign by young Nigerians under the #endsars, with the Central Bank of Nigeria (CBN) directing banks to block the accounts of some of the known fundraisers for the campaign. Some of the activists caught in the web claimed... Read More

From the Archive: Where are they now, ex-bank CEOs

by on September 19, 2020 0
By Oludare Mayowa In furtherance of our promise to relieve your weekend with some soft stories from the archive, we are bringing you the memorable recollections of events in the nation’s banking industry in 2001. The article below was first published in my regular Wednesday column; Banking Tit-Bits in the old Daily Times of... Read More

CBN slashes interest rate on SMEs intervention fund to 5%

by on September 5, 2020 0
The Central Bank of Nigeria (CBN) has slashed the interest rate on its target N100 billion intervention fund to 5 percent from 9 percent as part of initiatives to enable Micro, Small and Medium Enterprises (MSMEs) to survive the COVID-19 pandemic and beyond. The regulatory bank’s director of Development Finance. Yusuf Philip Yila who... Read More