recapitalisation
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economy
CIBN inducts 741 members, reassures banks recapitalisation will expand Nigeria’s GDP
The Chartered Institute of Bankers of Nigeria (CIBN) held its 2024 second induction for 741 new members on Saturday in Lagos. The institute reassured Nigerians that the planned banks recapitalisation would boost the nation’s Gross Domestic Product (GDP). The President of CIBN, Prof. Pius Olarenwaju, during the hybrid induction and award ceremony, called for excellence in banking operations towards efficiency…
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Featured
Banks recapitalisation: Peace of Mind, the Prince and NDIC
Mr Ajayi Audu banks with the 37 year-old Unity Bank Plc and has been a customer for the past 19 years since he started work in the civil service. The Central Bank of Nigeria (CBN) recently announced the bank’s merger with Providus Bank Ltd. In a statement, the CBN said the merger is contingent on its financial support, adding that…
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economy
Zenith Bank assures shareholders of no dilution in combined offering
Zenith Bank Plc has reassured its shareholders that its existing shareholding will remain unchanged during the bank’s ongoing combined offering. Zenith Bank Plc’s Group Managing Director (GMD), Dr Adaora Umeoji, gave the assurance at the “Fact Behind the Combined Offer” event held at the Nigerian Exchange Ltd. (NGX) on Monday in Lagos. Umeoji said that the bank was offering 65…
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economy
Recapitalisation: FCMB Group to raise N397bn in 3 phases
FCMB Group Plc says it plans to raise N397 billion in three phases ahead of the Central Bank of Nigeria (CBN) recapitalisation exercise. Mr Ladi Balogun, Chief Executive Officer of FCMB Group, said this at the Fact Behind The Offer Presentation of the group to capital market stakeholders at the Nigerian Exchange Ltd.(NGX) on Tuesday in Lagos. Balogun said that…
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economy
Recapitalisation: Access Holdings arranges for proposed N351.01bn rights issue
Access Holdings Plc says it has conducted a formal signing ceremony to initiate a rights issue offer aimed at raising N351.01 billion from its existing shareholders. The holdings said this in a statement made available on Wednesday in Lagos. This came ahead of bank’s recapitalisation directive by the Central Bank of Nigeria(CBN). The News Agency of Nigeria(NAN) reports that the…
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economy
Recapilisation: UBA expects shareholders approval on resolutions
Mr Ogochukwu Nwaghodo, Executive Director, Finance and Risk Management, United Bank for Africa (UBA), says the bank plans to get recapitalisation approval from its shareholders by Friday, May 24. Nwaghodo said this on the sideline of a global press conference to announce the 75-year anniversary of the bank in Lagos. Speaking at a global press conference on the bank’s 75th…
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economy
Banks’ lending to real sector to rise after recapitalisation
The recapitalisation exercise in the banking industry embarked on by the Central Bank of Nigeria (CBN) will trigger an increase in credit extension to the real sector, operators in the banking industry have stated. The CBN had earlier this year announced a new minimum capital base for commercial, merchant and non interest banks in the country with an aim…
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