Fidelity Bank has been listed as one of most capitalised banks in Nigeria based on Q3 2023 financial results. According to an article published in THISDAY newspapers, the bank reported a capital base of N410.75 billion as of September 2023, as against N314.3 billion in 2022. Also featuring on the list are Zenith Bank, UBA, First Bank, Access Holdings, First …

The Central Bank of Nigeria (CBN) has warned the public to be wary of counterfeit Naira notes in circulation amid reports of currency shortage. In a statement titled ‘Beware of Counterfeit Naira Banknotes in Circulation’, the apex bank on Friday advised Deposit Money Banks, Financial Houses, Bureau de Change, and the public to be vigilant and implement necessary precautions. The …

Polaris Bank, Nigeria’s leading digital retail Bank, has pledged to support the development of high-impact sectors including road infrastructure, housing, education, healthcare and agro-processing in Ogun State. After he led the bank’s management team on a courtesy visit to Ogun State Governor, Prince Dapo Abiodun, in his office at Oke-Mosan, Abeokuta, the state capital, on Wednesday, Managing Director/CEO, Mr. Adekunle …

Ahead of the festive period, The Alternative Bank is offering customers an innovative financial product designed to enhance the holiday experience. According to the bank, the pioneering solution, AltMall, allows individuals to instantly acquire desired items and pay in manageable instalments, freeing up funds for other essential needs. It provides customers unparalleled flexibility through deferred payment options, promising a seamless …

A recently conducted perception survey by the Strategy and Intelligence Service unit of Nigeria’s leading perception consulting firm, CMC Connect LLP has revealed that there is a perception gap in the Nigerian banking industry. The nationwide perception audit revealed that some of banks’ adverts in Nigeria are misleading. Respondents say they that the banks make some of their services look …

Polaris Bank has enrolled in the Pan-African Payment and Settlement System (PAPSS). The cross-border financial infrastructure empowers the bank’s existing and potential customers to execute trade and payments across Africa seamlessly. The inter-African trade payment gateway is a solution designed to empower those who trade international within African continent, with streamlined, efficient, and secure payment processes. The bank’s Group Head …

The Central Bank of Nigeria (CBN) has directed a ‘Post No Debit’ (PND) restriction on all bank accounts without Bank Verification Number (BVN) and National Identification Number (NIN) effective April, next year. ‘PND’ is a term used to describe a restriction imposed by banks on specific accounts, preventing customers from making withdrawals, transfers, or any other debits from their accounts. …

The Alternative Bank has unveiled two of its major financial products – AltBiz and AltInvest – at the on-going Kano International Trade Fair. The bank said that the launch marked a significant step for it as it continues to play a pivotal role in shaping the financial landscape especially in the northern region. Whilst AltBiz caters to the financial needs …

Fidelity Bank signs UN Principles for Responsible Banking Fidelity Bank Plc has become an official signatory of the UN Principles for Responsible Banking (PRB) – a single framework for a sustainable banking industry developed through a collaboration between banks worldwide and the United Nations Environment Programme Finance Initiative (UNEPFI). The Principles are the leading framework for ensuring that banks’ strategy …

The Central Bank of Nigeria (CBN) has issued a fresh directive to all banks and Nigerians regarding accepting old and redesigned Naira notes, according to a statement on Wednesday by its Acting Director of Corporate Communications, Mrs. Sidi Hakama. This is as the Supreme Court ruled also on Wednesday that the old Naira denominations of N200, N500 and N1,000 notes continue …