Banking & Finance

IFC invests in Nigeria’s Zenith Bank to support SMEs

nigeria banking sector 17 JuneIFC, a member of the World Bank Group, has announced an investment of up to US$100mn in Nigeria’s Zenith Bank Plc to help it increase support to clients and companies whose cash flows have been disrupted by challenges caused by the COVID-19 pandemic

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Banking sector urged to go digital to build sustainable growth post COVID-19

Liao YongBankers from sub-Saharan Africa and China who attended the Huawei sub-Saharan Africa Financial Services Industry Online Summit 2020 agree that digitisation of the sector will give it resilience against the current COVID-19 pandemic and enable sustained growth in the post COVID era

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Central Bank of Nigeria resumes sale of foreign exchange

Nigeria banks 7 MayThe Central Bank of Nigeria (CBN) has commenced the sale of foreign exchange totalling more than US$100mn through the commercial for school fees payments and for small and medium size companies wishing SMEs to make essential imports to revamp economic activities

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MEA banks are strongest believers in a cashless society, says Temenos survey

trmenos 7 MayBuilding a mobile-first greenfield bank is ranked as the top innovation strategy by 37 per cent of MEA banking executives, according to a global retail banking survey released by Temenos, the banking software company

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Central Bank of Nigeria stops retrenchment in Nigerian banks

cbn bolaThe Nigerian Central and the Bankers Committee has instructed that no members of staffs of banks (either full or part time) should be retrenched in spite of the COVID-19 negative effect on banking operating cost

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