Leading financial institution, Fidelity Bank Plc, has announced that it will be giving out N159 million to lucky customers in its recently launched Get Alerts in Millions Season 6, (GAIM 6) promo. Speaking at the press conference to kick off the promo at the bank’s Lagos head office, Executive Director, Lagos & South-West, Fidelity Bank Plc and the Promo Committee …

Polaris Bank concluded its nationwide financial literacy initiative with an impactful session at the MD/CEO’s designated school, Government Day Secondary School, Pantami, Gombe State, marking the culmination of its activities to commemorate World Savings Day 2024. Through the programme, aimed at promoting a culture of saving and financial responsibility among young Nigerians, the bank’s team reached out to schools across …

Depositors of the recently liquidated Heritage Bank have appealed to President Bola Tinubu over the non-payment of their deposits since the Central Bank of Nigeria (CBN) revoked the bank’s license on  3 June 2024. The depositors, many of whom are facing severe economic hardship, lament that more than 200 of their members have died from hunger and heart attacks, while …

The federal government spent $3.57 billion servicing the country’s foreign debt in the first nine months of 2024. According to data obtained from the Central Bank of Nigeria (CBN) report on international payment statistics, the federal government debt service increased by 39.7 percent from the $2.56 billion spent during the same period in 2023. The data showed that the highest …

Stanbic IBTC Holdings has reaffirmed its market leadership by securing multiple prestigious awards at the 2024 FMDQ Gold Awards. Recognised for its excellence, resilience, and innovation, Stanbic IBTC Bank received top honours FMDQ FX Market Liquidity Provider, FMDQ Dealing Member of the Year, and FMDQ Fixed Income Market Liquidity Provider categories, while Stanbic IBTC Asset Management was honoured as the …

The Naira yesterday appreciated to N1,730 per dollar in the parallel market from N1,740 per dollar last weekend. However, the Naira depreciated to N1,681.42 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,681.42 per dollar from N1,678.87 per dollar last Friday indicating N2.55 depreciation for …

The Nigeria Deposit Insurance Corporation (NDIC) has announced plans to sell off properties and assets belonging to the defunct Heritage Bank in a bid to recover funds for uninsured depositors. This move, which the NDIC describes as crucial, is part of its statutory mandate as the liquidator of failed banks under Section 62(1)(d) of the NDIC Act, 2023. The exercise, …

The Naira yesterday appreciated to N1,720 per dollar in the parallel market from N1,725 per dollar on Monday. Similarly, the Naira appreciated to N1,671.32 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,671.32 per dollar from N1,676.9 per dollar on Monday indicating N5.58 appreciation for …

Polaris Bank’s commitment to digital innovation and excellence has once again been recognised, with the ‘Best Mobile App’ award for its renowned digital banking platform, VULTe. The bank got the recognition at the Digital Jurist Awards last Thursday in Lagos. The honour came less than a week after Polaris Bank was named ‘Nigeria’s Digital Bank of the Year’ for the …

The Naira yesterday appreciated to N1,730 per dollar in the parallel market from N1,725 perdollar on Wednesday. The Naira depreciated to N1,675.49 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,675.49 per dollar from N1,631.17 per dollar on Wednesday indicating N44.32 depreciation for the naira. …