Understanding Dormant Bank Account

Understanding Dormant Bank Account

YOUR bank account becomes dormant if you don’t use it to perform any transaction for two years. Such transactions include withdrawal of cash at a branch or Automated Teller Machine (ATM), payment by cheque, transfer of funds through Internet banking, mobile banking or ATMs, receiving dividend on shares or the interest of your fixed deposit in you...
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FSDH highlights threats to single digit inflation in 2018

FSDH highlights threats to single digit inflation in 2018

FSDH Merchant Bank yesterday released its economic outlook for 2018, highlighting adjustment in electricity tariff, adjustment in price of petrol and the crisis in the middle belt as threats to achievement of single digit inflation. The post FSDH highlights th...
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Banks’ lending to private sector drops to N15.74tr

Banks’ lending to private sector drops to N15.74tr

By Adaeze Okechukwu Banks reduced lending to the private sector to N15.74 trillion in the fourth quarter of 2017 (Q4’17). The Nigerian Bureau of Statistics, NBS, disclosed this in its Q4 2017 report titled,  ‘Selected Banking Sector Data: Sectorial Breakd...
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Banks in Britain, U.S. ban Bitcoin buying with credit cards

Banks in Britain, U.S. ban Bitcoin buying with credit cards

BANKS in Britain and the U. S. have banned the use of credit cards to buy Bitcoin and other “cryptocurrencies”. The banks are fearing a plunge in their value will leave customers unable to repay [...] The post Banks in Britain, U.S. ban Bitcoin buying with...
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Nova Merchant Bank moves to facilitate FDI into Nigeria

Nova Merchant Bank moves to facilitate FDI into Nigeria

Nova Merchant Bank said it has designed investment banking products that will help Nigerian businesses attract foreign direct investment (FDI). Chairman, Nova Merchant Bank, Mr. Phillips Oduoza disclosed this during an interview with journalists in Lagos. The ...
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Getting Buisness Loans from the Banks (6) Diamond Bank

Getting Buisness Loans from the Banks (6) Diamond Bank

We continue this series on Diamond Bank’s offers for small businesses which we started last week. The post Getting Buisness Loans from the Banks (6) Diamond Bank appeared first on Vanguard News. ...
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First Royal Micro Finance Bank defies harsh times, pays dividends to shareholders

First Royal Micro Finance Bank defies harsh times, pays dividends to shareholders

NOTWITHSTANDING  a drop in its profits after tax from N26,001,560 in the 2015 financial year, to N20,081,488 in 2016 owing to the adverse economic situation that characterised the 2016 financial year, First Royal Microfinance Bank has announced a dividend of ...
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Banks credit to agric sector drops by N34bn – NBS

Banks credit to agric sector drops by N34bn – NBS

Ifeanyi Onuba, Abuja The total amount of credit granted by Deposit Money Banks to the agricultural sector declined by N34.45bn from October 2016 and September 2017, an analysis of the banking sector credit report by the National Bureau of Statistics has reveal...
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Banks record increased default on credit card, overdraft loans

Banks record increased default on credit card, overdraft loans

Banks recorded increased default on credit card and overdraft loans to households in the fourth quarter of 2017. The post Banks record increased default on credit card, overdraft loans appeared first on Vanguard News. ...
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I smile to the bank with N300,000 monthly, says cobbler

I smile to the bank with N300,000 monthly, says cobbler

While statistics from the National Bureau of Statistics (NBS) showed there were no fewer than 18 million unemployed Nigerians as of the third quarter of 2017, Benjamin Daniel, a cobbler, The post I smile to the bank with N300,000 monthly, says cobbler appeared...
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