The negative sentiment surrounding the banking sector was further heightened following the recent increase in the public sector CRR from 50% to 75%. Nigerian banks are indeed facing the challenge of tougher regulation on CRR and banks have continued to weigh the impact of high public sector CRR on revenue […]
Tag: Central Bank of Nigeria
CBN Awards N9.5bn Contract to Bankrupt Firm
Apex bank defends contract award Dermalog, the company which the Central Bank of Nigeria (CBN) gave the nod to install a biometric payment system for Nigerian banks is bankrupt, investigations have revealed. The German firm went into voluntary liquidation in 2012 and was technically broke at home (in Europe) at […]
Unity Bank to Divest 50.30% Stake in UnityKapital Assurance
By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-Unity Bank Plc Friday announced it is ready to sell its 50.30 percent (50.30%) stake in UnityKapital Assurance Plc. UnityKapital in a notice to the Nigerian Stock Exchange (NSE) and made available to InvestAdvocate in Lagos Nigeria said Unity Bank as a major shareholder is […]
