Bank
CIBN urges banks to strengthen cyber-security
The Chartered Institute of Bankers of Nigeria (CIBN) has urged the banks to strengthen their cyber-security architecture in order to prevent attacks by fraudsters. President/Chairman of Council of the institute, Mr. Bayo Olugbemi, made the call while delivering his remarks at the 2020 CIBN Fellowship Investiture in Lagos, at the weekend. The CIBN at its investiture formally conferred its honorary fellowship awards on 19 distinguished bankers in recognition of their contributions to the banking industry and the economy; 77 associates as elected Fellows while 105 senior management staff of banks and the academia became Honorary Senior Members of the institute at the event with the theme: ‘Financial Services in a post COVID 19 Environment: Strategic Imperative’. Some that were conferred with ...
Joe Biden picks diverse team of top economic advisers
President-elect Joe Biden named former Federal Reserve Chair Janet Yellen as his Treasury secretary nominee on Monday, and named three women to other top economic posts, setting the stage for a more diverse White House. While Biden’s transition to the presidency on Jan. 20 appeared to be hitting its stride, he himself was hobbling after fracturing his foot while playing with his dog on Saturday and will wear a protective boot for several weeks, his doctors said. The incoming administration has been hampered for weeks by Republican President Donald Trump, who has refused to concede to Biden, a Democrat. Trump has said without providing evidence that the Nov. 3 vote was fraudulent, claims that state and federal election officials have dismissed. Biden named leading members of an economic tea...
Nigerian government seeks new Eurobond
The federal government yesterday disclosed that it would approach the Eurobond market next year in its effort to shore up the economy, amidst cocktails of measures being put in place to douse the effects of the Covid-19 pandemic on the economy. On the same day, Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, while speaking at the 55th Annual Bankers Dinner organised by the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, predicted a two per cent growth in the country’s Gross Domestic Product (GDP) in 2021. Finance Minister, Zainab Ahmed, who disclosed the Eurobond plan while speaking on Bloomberg TV, explained that the decision would depend on the prevailing interest rates. She, however, did not specify the amount to be accessed from the Eurobond. The Eurobond option is ...
Rollercoaster: Bitcoiners who missed rally feel relief and regret
Arianna O’Dell, a 30-year-old entrepreneur and songwriter based in New York City, had a tumultuous four-year journey in cryptocurrency before selling her investments in February. During her rollercoaster ride, bitcoin prices swung from less than $1,000 to nearly $20,000. O’Dell may not have made optimal decisions about when to buy or sell, and missed out on the recent rally – but said she does not regret that. Investing $2,705 worth of proceeds into her business was better than enduring the stress of daily fluctuations, even though the price has since doubled, she said. “Honestly, I’ve had more luck in Vegas than I’ve had with cryptocurrencies,” O’Dell said in an interview. She is part of a relatively new class of retail investors who joined the cryptocurrency market years ago, helping pro...
OPL245 scandal: Coalition urges World Bank group not to protect oil giants
A World Bank affiliated group may scuttle Nigeria’s bid to successfully prosecute illicit funds associated with the controversial OPL 245, a coalition of international anti-corruption groups has said. The post OPL245 scandal: Coalition urges World Bank group not to protect oil giants appeared first on TODAY. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.
Killer Mike’s Black-Owned Bank Garners More Than 10,000 New Account Requests In Less Than 24 Hours
Source: Greenwood / Greenwood Killer Mike‘s mission to assist in building Black wealth and spending within the community has kicked off with major success. After announcing his latest venture Greenwood, a digital bank launched with his close friend, Bounce TV founder Ryan Glover, the leadership team at Greenwood, which includes former Atlanta Mayor Andrew Young, unveiled their new platform on Thursday after raising more than $3 million in seed funding in June. “It’s no secret that traditional banks have failed the Black and Latinx community,” Ryan Glover said in a statement. “We needed to create a new financial platform that understands our history and our needs going forward, a banking platform built by us and for us, a platform that helps us build a stronger future for our communities. T...
Dr. Dre’s Soon To Be Ex-Wife Accused Of Cashing Out His Bank Account
Source: Bernard Smalls / @PhotosByBeanz The divorce proceedings between Dr. Dre and his soon to be ex-wife are uncovering some serious dirt. She has apparently left a paper trail of pilfering from the piggy bank. As spotted on TMZ Nicole Young’s reputation is now being put to the test. Last week the iconic producer’s attorney Larry Chatman provided proof that she had allegedly helped herself to a big bag to the tally of $353,571.85. According to a formal letter written by the lawyer she wrote herself a check from his Record One Studio’s bank account back in 2015. Even though she had been appointed as a trustee and signatory for the account he claims the transaction was not authorized and called the move embezzlement. Furthermore he demanded that she return the monies or that a fo...
Edo election: Comrade Oshiomhole borrowed recklessly – Governor Obaseki
Governor Godwin Obaseki has accused his predecessor, Adams Oshiomhole, of putting Edo State in debt through reckless borrowing. The governor made the allegation on Sunday, September 13, 2020, during the Edo Governorship debate organized by Channels Television. While answering a question about the debt profile of Edo state, Obaseki said the Oshiomhole-led administration was responsible for the state’s debt burden. He said, “Let me make some points very clear. What happened is that my predecessor in office borrowed recklessly and the Federal Government had to restructure all the debts that we have taken before I came into office. “These included a whole series of bank borrowings, borrowing to pay salaries. So, the Federal Government restructured outstanding obligations to Edo State, to the t...
EFCC arraigns banker for ‘N80 million fraud’
The Kano Zonal office of the Economic and Financial Crimes Commission (EFCC), has arraigned one Kolapo Oduwole before Justice Musa Danladi of the Katsina State High Court on a six-count charge of forgery and fraud in the sum of N80,000,000( Eighty Million Naira only). Oduwole, a staff of a bank (name withheld), allegedly forged signatures of Relationship Manager of the Bank on three fixed deposits certificates and presented same to some customers and subsequently got the customers to fix their money in fixed deposit accounts controlled only by him. It was further alleged that, after the money was fixed, the defendant transferred it into various accounts to conduct his personal businesses. One of the charges read that “You Kolapo Oduwole on the 3rd March, 2020 at Katsina, within the jurisdi...
Nigerian banks urged to address increasing numbers of customers visiting daily
Prof. Olayinka David-West of Information Systems/Academic Director, Lagos Business School, has urged banking institutions to embrace digital economy to address the increasing numbers of people visiting their branches daily. David-West gave the advice on Saturday at the first ever Virtual Graduates’ Induction and Prize Awards Day organised by the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos. Newsmen report that theme of the programme was: “Digital Economy: The Role of Professional Bankers”. David-West said: “Our financial services ecosystem has recorded significant progress in areas like Bank Verification Number (BVN) and Instant Payments. “The surge on bank branches after the first phase of the lockdown presented some interesting challenges to the ecosystem and the digital eco...
Afreximbank approves $400 million facility to improve agriculture in Africa
The African Export-Import Bank (Afreximbank), Africa’s foremost multilateral trade finance institution, has approved a $400-million revolving global credit facility agreement for the Export Trading Group (ETG), one of the largest and fastest-growing integrated agricultural conglomerates in Africa. The agreement will enable ETG to keep playing its vital role in the agri-foods supply chain of efficiently connecting African farmers to markets, as well as expanding access to key inputs to boost agricultural productivity in a continent with tremendous but yet unrealized potential. According to Afreximbank’s estimates, Africa spent over $90 billion on food imports in 2019, even though it possesses up to 60 percent of the world’s remaining arable land. Moreover, the Food and Agriculture Organizat...
Central bank, bankers’ committee to support airlines, media with special facilities
The Central Bank of Nigeria (CBN) and the Bankers’ Committee have unanimously agreed to extend special facilities to Nigerian-registered airlines and the media industry in the country to enable them adequately address the negative impact of the COVID-19 pandemic. The CBN Director Corporate Communications, Mr Isaac Okorafor, made this known in a statement in Abuja on Tuesday. Okorafor said the CBN Governor, Mr Godwin Emefiele, announced this while addressing the Bank Chief Executives at the bi-monthly virtual meeting of the Bankers’ Committee on Tuesday. Emefiele urged the banks to do all within their powers to support airlines in the country, noting that such support was critical to helping the industry recover from the economic crisis triggered by the COVID-19 pandemic. Similarly, the ape...
