Six commercial banks paid N392.77m in fines to the Central Bank of Nigeria in 2013 for contravening various aspects of the Banks and Other Financial Institutions Act. Checks by the News Agency of Nigeria showed that the penalised banks were Diamond Bank Plc, Zenith Bank Plc, Skye Bank Plc, UBA […]
Author: InvestAdvocate
World Bank’s Growth Rate Forecast for Developing Nations Down 4.5%
By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)- The World Bank Group on Tuesday said forecast for developing countries growth rate is now down 4.8 percent this year from its January estimate of 5.3 percent. The World Bank in its Global Economic Prospects (GEP) report, said developing countries are headed for a […]
IFC, First Bank sign mobile finance agreement
International Finance Corporation, a member of the World Bank Group, says it has signed an advisory services agreement with Firstmonie, a subsidiary of First Bank Nigeria Limited, to expand mobile financial services and agent banking in the country. The IFC said the development would boost the supply of affordable financial […]