Tag "First Bank"

    FirstBank sponsors Kaduna polo ‘Georgian Cup’ for 100th year

FirstBank sponsors Kaduna polo ‘Georgian Cup’ for 100th year

First Bank of Nigeria Limited has announced its sponsorship of the Georgian Cup of the Kaduna polo tournament for the 100th year. In a statement issued on Tuesday, the bank said the decision to continue its support of the tournament is due to its commitment to the growth and development of sports, nation building and the economy at large. The bank said [...]

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    First Bank introduces financial package for educational institutions

First Bank introduces financial package for educational institutions

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    FirstBank organises relay walk to celebrate 125th anniversary

FirstBank organises relay walk to celebrate 125th anniversary

First Bank of Nigeria Limited organised a relay on Saturday in commemoration of its 125th anniversary. According to the bank, the 125 kilometre relay walk held across the country to commemorate its years of "unbroken service to the nation". Speaking with TheCable at the end of the exercise in Lagos, Remi Oni, executive director of corporate bank, said the activity is to synergise [...]

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    UI partners First Bank for graduate recruitment fair

UI partners First Bank for graduate recruitment fair

The University of Ibadan (UI), in partnership with First Bank, recently organised a graduate recruitment/career fair. The event, which took place on Tuesday, is part of the activities lined up for the commemoration of the institution’s 70th anniversary and 2018 convocation ceremonies. UI was established in 1948. The fair was convened to promote the engagement between organisations, spanning diverse industries and exceptional talent [...]

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    FBN Holdings posts N33.5bn profit — despite high inflation

FBN Holdings posts N33.5bn profit — despite high inflation

FBN Holdings Plc (FBNHoldings) says its profit margin increased by 13.7 percent year on year (y-o-y) for the half year ended June 2018, “despite high inflationary environment". This is contained in the group’s unaudited results, which were largely positive for the period under review. According to the results, profit after tax rose to N33.5 billion, up from N29.5 billion recorded in June [...]

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    TRENDING: Nigerian banks ‘troll’ one another in Twitter #BankWars

TRENDING: Nigerian banks ‘troll’ one another in Twitter #BankWars

Nigerian banks are in the middle of Twitter war, and it's not about their activities and services. A few top banks have been entertaining Nigerians all weekend with swinging jibes on the social media platform. On Friday, Sterling Bank Plc tweeted a photo in which it tacitly carpeted a few prominent banks without mentioning their names. The clever tweet generated a lot of reactions [...]

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    First Bank partners with World Remit to ‘strengthen’ digital money transfer

First Bank partners with World Remit to ‘strengthen’ digital money transfer

First Bank of Nigeria Limited has announced a partnership with World Remit, an international digital money transfer service, for an instant transfer service to its customers in Nigeria. The new service was launched at First Bank’s head office in Lagos on Tuesday. Speaking at the launch, Gbenga Shobo, deputy managing director, First Bank, said the partnership is one of the ways the bank [...]

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    Sterling Bank chairman says it might become a holding company

Sterling Bank chairman says it might become a holding company

Asue Ighodalo, chairman of Sterling Bank Plc, says the organisation is considering changing its operational structure from that of a bank to a holding company. Speaking at the bank's annual general meeting on Thursday, Ighodalo said this proposed new structure will allow the commercial banks and its subsidiaries operate under a parent company. He said the board of the bank retained most [...]

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    NSE fines seven banks for delayed financial results

NSE fines seven banks for delayed financial results

The Nigerian Stock Exchange has fined seven financial institutions for not filing their financial results before the regulatory due date. According to the listing rules provided by the stock exchange, companies are expected to submit their financial year-end result latest by 90 days after the end of each year. Quarterly results are also expected to be submitted at most 60 days after [...]

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    IT’S OFFICIAL: Zenith Bank now Nigeria’s largest bank by customer deposits

IT’S OFFICIAL: Zenith Bank now Nigeria’s largest bank by customer deposits

Zenith Bank, a Tier one bank, has displaced First Bank as the largest bank in the country in terms of its reported customer deposit. In its first quarter results made available on the Nigerian Stock Exchange website, the bank reported that its customers deposited N3.396 trillion as against the N3.24 trillion reported by First Bank in the same period. Before now, First [...]

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    10 companies fail to meet NSE’s deadline for filing audited reports

10 companies fail to meet NSE’s deadline for filing audited reports

First Bank Nigeria Holdings, Union Bank and Diamond Bank are part of the 10 companies that could not meet the March 31 deadline given by the Nigerian Stock Exchange for filing audited financial reports. In statements posted on the exchange's website, the companies notified the public of the delay and made the reasons known. The affected companies are First Bank, Diamond Bank, [...]

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    Fitch: Some Nigerian banks may struggle to remain profitable in 2018

Fitch: Some Nigerian banks may struggle to remain profitable in 2018

Fitch, one of the big three rating agencies in the world, says Tier 2 Nigerian banks may struggle to remain profitable in 2018. In a statement released on Thursday, Fitch said reduced treasury bill issuance will affect the profitability of banks. "However, some second-tier banks with a 9M17 operating ROAE of 4%-6% may struggle to remain profitable in 2018." The agency said Nigerian [...]

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    Two banks take over Evans Medical Plc

Two banks take over Evans Medical Plc

The management of Evans Medical Plc says Skye Bank Nigeria Plc and First Bank of Nigeria have taken over its assest. Adesua Akintemi, the company's secretary, disclosed this in a statement shared with TheCable. The statement said the company had received a court order for its assets to be taken over as a result of a loan default. "Evans Medical Plc would like [...]

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    Zenith Bank provides for 30% of 9mobile’s loan

Zenith Bank provides for 30% of 9mobile’s loan

Zenith Bank says it has made a provision on 30 percent of its loan to 9mobile, telecommunications company formerly known as Etisalat. According to Reuters, Peter Amangbo, chief executive officer of the bank, made this known in a conference call on Monday. "We have taken about 30 percent as a provision which we believe is very prudent as the company is undergoing [...]

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    TSA funds: UBA, Sterling, Fidelity deny… Skye Bank admits holding money

TSA funds: UBA, Sterling, Fidelity deny… Skye Bank admits holding money

In response to the court directive to remit $793.2 million allegedly hidden in seven commercial banks, UBA, Fidelity Bank and Sterling Bank have denied having any money in their possession. Although Skye bank admitted holding money, it denied hiding it from the Central Bank of Nigeria (CBN). On Thursday, Chuka Obiozor, judge of a federal high court in Lagos, ordered the seven [...]

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Exchange Rates

March 25, 2019USDGBPEUR
INTERBANK306397354
LAGOS380478402
KANO375477498
PH380478498
ABUJA375476400
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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