banking-and-insurance

News

Sierra Leone: Country to Get Health Insurance Soon
President Koroma has told the visiting Emir of Shonga, Nigeria Dr Haliru Yahaya that his government was working towards a national health insurance scheme which would be launched by next year.
Source : AllAfrica | 20-Nov-2008 12:38

Nigeria: Country Will Go Bankrupt Under Yar'Adua -Audu Ogbeh
A chieftain of the Action Congress (AC) Chief Audu Ogbeh, has warned that Nigeria will go bankrupt in the next five years, if the present administration of President Umaru Musa Yar'Adua continues to run the country the way it is doing.
Source : AllAfrica | 20-Nov-2008 11:49

Nigeria: Interpol Probes Nigerian Banks
Nigerian banks may have come under a fresh global scrutiny, following revelations by the London Metropolitan Police and the INTERPOL that the banks provide conduit pipes for much of the money laundering activities in the country.
Source : AllAfrica | 20-Nov-2008 11:49

Nigeria: Spring Bank Picks Kano As Venue for Next Springsave Draw
Spring Bank Plc has announced its decision to hold the next draws of the SpringSave Empowerment Account promotion in Kano.
Source : AllAfrica | 20-Nov-2008 11:32

Nigeria: Foreign Banks Recall $3 Billion Credit Line From Country Banks
In an apparent bid to shore up their balance sheet in response to the global financial crisis, Foreign banks acting as correspondent banks to Nigerian banks recalled about $3 billion credit line from their local counterparts banks in the month of October.
Source : AllAfrica | 20-Nov-2008 10:19

Nigeria: Infosys Launches Next Generation Solution for West African Banks
Infosys Technologies, developers of software solutions for world banking applications has launched the latest banking software for next generation solution for West African Banks.
Source : AllAfrica | 20-Nov-2008 09:08

Nigeria: Oceanic Bank MD Bags Kwame Nkruma Leadership Award
It was a day of honour for the Managing-Director and Chief Executive of the Oceanic Bank International Plc, Dr. (Mrs.) Cecilia Ibru in Accra, Ghana, when she, along with other eminent African personalities, was honoured yesterday in Accra, Ghana, with the Kwame Nkruma African Leadership Award.
Source : AllAfrica | 19-Nov-2008 19:28

Nigeria: Standard Chartered, Accion Holds Workshop for Microfinance
In its bid to encourage savings and spur economic activity in Nigeria, Standard Chartered Bank has concluded arrangement to bring in experts that will enlighten the micro finance institutions on their role towards economic development.
Source : AllAfrica | 19-Nov-2008 18:07

Nigeria: Union Homes Joins Finacle Family
Union Homes Plc, the biggest primary mortgage institution in Nigeria and a subsidiary of Union Bank Plc has selected Finacle UBS to power its continuing growth and expansion plans.
Source : AllAfrica | 19-Nov-2008 18:07

Nigeria: Nigeria Re Will Regain Its Leadership Position - Ameh
IN spite of all the storms that rocked Nigerian Reinsurance Corporation especially in the last two years, the management of the reinsurance company has said the reinsurer would bounce back to regain its leadership position in the country.
Source : AllAfrica | 19-Nov-2008 18:07

Nigeria: Hazonwao MFB Unveils Wealth Creation Strategies for 'Active Poor'
Hazonwao Microfinance Bank Limited, subsidiary of the Hazonwao Group has unveiled strategies to change the fortunes of the active poor in Nigeria, especially those in the Lagos metropolis whose desire is to meet their daily financial obligations.
Source : AllAfrica | 19-Nov-2008 15:47

Rwanda: Banking - Fina Bank in Regional Expansion
Currently, the bank has 17 branches across the region including 10 in Kenya, 5 in Rwanda and 2 in Uganda.
Source : AllAfrica | 19-Nov-2008 15:11

Nigeria: No Ceiling On Agric Loan, Says First Bank
The current drive by First Bank Plc, to improve investments in the agricultural sector in Plateau state through the offer of credit instruments to farmers has not been hampered by the N1 billion already sourced from the bank by farmers as the facility is still open for access.
Source : AllAfrica | 19-Nov-2008 13:03

Nigeria: Oceanic MD Bags Nkrumah Leadership Award
The Managing Director and Chief Executive of Oceanic Bank International Plc, Dr. Cecilia Ibru was yesterday honoured in Accra, Ghana with the Kwame Nkrumah African Leadership award.
Source : AllAfrica | 19-Nov-2008 12:41

Nigeria: MTN Provides WAN Solution for CBN Branches
The leading telecommunications company, MTN Nigeria, has signed an agreement for the provision of wide Area Network(WAN) solutions to support 21 Central Bank of Nigeria (CBN) branches across the country.
Source : AllAfrica | 19-Nov-2008 12:41

Nigeria: Court Throws Out Suit on Spring Bank's Acquisition
The suit instituted by some shareholders of Spring Bank on the acquisition bid by Platinum Habib Bank Plc (Bank PHB) was yesterday struck out by a Federal High Court in Lagos.
Source : AllAfrica | 19-Nov-2008 11:50

West Africa: How to Make Micro-Insurance Work in the Region
Dr. Mike Ikupolati, Director General/ Head Of Mission West African Insurance Institute, Kotu South, Banjul, The Gambia, has suggested ways to make the practice of micro-insurance work in the West African sub-region.
Source : AllAfrica | 19-Nov-2008 10:28

Nigeria: Goldlink Rakes in N696 Million Profit in 9 Months
Goldlink Insurance Plc has announced a profit of N696 million in its operation in the third quarter ended September 30, 2008, the company's Managing Director, Femi Okunniyi, said.
Source : AllAfrica | 19-Nov-2008 10:28

Fina Bank Opens Shop in Kampala
Fina Bank, one of the leading regional banks, has started operations in Uganda as part of its regional expansion strategy.
Source : AllAfrica | 19-Nov-2008 08:16

KCB Trading on Stock Market
KENYA Commercial Bank (KCB) has listed shares worth sh2.1b on the Uganda Securities Exchange (USE).
Source : AllAfrica | 19-Nov-2008 08:12

Sierra Leone: Makeni Rokel Bank Donates to 'Okada' Riders
Makeni branch of Rokel Commercial Bank (RCB) Friday donated ten helmets to commercial motorcycle 'okada' riders in the township.
Source : AllAfrica | 18-Nov-2008 23:55

Nigeria: Meltdown - Gov Daniel Asks CBN to Restore Sanity in Financial System
OGUN State Governor, Otunba Gbenga Daniel, yesterday, urged the Central Bank of Nigeria (CBN) to quickly come out with bailout strategy that would restore sanity in the financial system in view of the ongoing global financial disorder, even as he reaffirmed commitment of his administration to provide enabling and conducive environment for business to thrive.
Source : AllAfrica | 18-Nov-2008 21:43

Nigeria: Christmas, Hajj Raise Weekly Demand for Forex to U.S.$320 Million
Central Bank of Nigeria (CBN) has said that foreign exchange offered for sale under the Wholesale Dutch Auction System (WDAS) increased to US$320.00 million from US$140.00 million in the week ended November 14, 2008.
Source : AllAfrica | 18-Nov-2008 18:54

Mozambique: ADB Grants Funds for Poverty Relief
The Mozambican government signed an agreement with the African Development Bank (ADB) in Maputo on Monday under which the ADB will grant 90 million US dollars during the period 2008-2010 for poverty reduction programmes.
Source : AllAfrica | 18-Nov-2008 18:35

Nigeria: NSE - Banking Sub-Sector Tops Performance Chart
Investors' preference for the shares of banking sub-sector since the resumption of bears market last week saw the sector topping the performance chart in terms of volume and value of equities traded.
Source : AllAfrica | 18-Nov-2008 17:09

Zimbabwe: 7 Fired for Exposing Shady Deals At RBZ
SENIOR officials allegedly dismissed seven National Youth Service (NYS) graduates from the Reserve Bank of Zimbabwe Bulawayo branch for allegedly unearthing shady foreign currency deals.
Source : AllAfrica | 18-Nov-2008 16:57

Nigeria: Council, Banks to Float N20 Million Micro Credit Scheme
The Enugu North local government area of Enugu State, in collaboration with First Bank of Nigeria and the Central Bank of Nigeria, has concluded plans to float a N20 Million Micro Credit Scheme for farmers in the state.
Source : AllAfrica | 18-Nov-2008 16:34

Nigeria: Peace Microfinance Bank to Empower Low-Income Earners
The management of Peace Microfinance Bank Limited said plans are underway to empower low-income earners and civil servants in acquisition of property.
Source : AllAfrica | 18-Nov-2008 16:33

Citibank Experts to Probe NBE's Security Code System
Experts from Citibank, the New York based banking giant that recently was swindled of 27 million dollars from the Ethiopian National Bank's US account, have scheduled to visit the National Bank of Ethiopia (NBE) within the next few weeks to verify NBE's SWIFT security code system through which the two banking entities have been communicating.
Source : AllAfrica | 18-Nov-2008 15:33

Nigeria: Pencom Licenses Oceanic PFC
Oceanic Bank International Plc's quest to become a one stop financial super market is yielding results as it has added another subsidiary, Oceanic Pension Fund Custodians Limited.
Source : AllAfrica | 18-Nov-2008 12:52

Nigeria: Financial Crisis - UN Appoints Soludo Into Panel
Central Bank of Nigeria (CBN) Governor, Prof. Chukwuma C. Soludo has been appointed as a member of the United Nations task force that will address the global financial crisis.
Source : AllAfrica | 18-Nov-2008 11:57

Nigeria: BOI Investments Hit N43.2 Billion
The Bank of Industry (BOI) has announced an increase of 338.65 percent representing N43.25 billion on the value of its fresh loans and investments in June this year.
Source : AllAfrica | 18-Nov-2008 11:57

Nigeria: Court Stops Banks Over Sale of Texaco
Attempts by seven banks to finance the purchase of Chevron Oil and Gas Limited's 60 per cent equity stake of Texaco Nigeria Plc by MRS Holdings Limited, Petroci Holdings and Corlay Global S.A. suffered a major set-back yesterday as a Federal High Court in Lagos restrained them from getting involved in the process.
Source : AllAfrica | 18-Nov-2008 11:11

Nigeria: Union Bank to Hold AGM in Sokoto, Posts N29 Billion Profit
Union Bank of Nigeria Plc has concluded arrangement to hold its Annual General Meeting (AGM,) in Sokoto, where shareholders are expected to ratify its 2008 financial results ended March 31, 2008.
Source : AllAfrica | 18-Nov-2008 09:40

Nigeria: Experts Expresses Concern Over Sustainability of Market Rally
Experts in the Nigerian capital market have expressed their concerns over the ability of the market to sustain its current rally.
Source : AllAfrica | 18-Nov-2008 09:40

Uganda: Stanbic Want to Dominate Corporates
STANBIC Bank has confirmed an entry of 584 runners in the MTN Kampala International Marathon race, as bankers continue seeking a maiden corporate title, having failed to win it in the first four editions.
Source : AllAfrica | 18-Nov-2008 08:57

Nigeria: Bank Ordered to Pay 40,000 Pounds Compensation
First Bank of Nigeria Plc in Kano state has been ordered by the state High Court, situated at Miller Road High Court complex, to pay Zam Zam Industries Limited the sum of 40,706.78, pounds as compensation.
Source : AllAfrica | 18-Nov-2008 00:18

Nigeria: CBN Guarantees N5.33 Billion Agric Loan
A total of N5.335billion loans were guaranteed by the Central Bank of Nigeria (CBN) under its Agricultural Credit Guarantee Scheme Fund (ACGSF) from January to October, 2008.
Source : AllAfrica | 17-Nov-2008 23:41

Nigeria: NDIC Resolves Failed Bank's N73.4 Billion Private Deposits
Nigeria Deposit Insurance Corporation (NDIC) has resolved N73.4 billion private deposits of 11 out of the 13 banks in liquidation.
Source : AllAfrica | 17-Nov-2008 21:40

Nigeria: Unity Bank Assures of Better Service
Unity Bank has assured of an improved service. In a speech by the Executive Director of the Bank Lamis Dikko at its special day during the just concluded Jos Trade Fair, he assured customers of continuous improvement in service delivery to exceed customer expectations.
Source : AllAfrica | 17-Nov-2008 19:38

N2.3 Billion Car Deal - Our Cheques Used for Payment - CBN
The Central Bank of Nigeria (CBN) on Friday disclosed that the cheques used for the purchase of 308 cars from Peugeot Automobile Nigeria (PAN) for members of the House of Representatives belonged to it.
Source : AllAfrica | 17-Nov-2008 17:01

Uganda: General Saleh Lets Out His Wish
Uganda's state minister for microfinance, Gen. Caleb Akandwanaho, aka Salim Saleh has let out his greatest wish. At the launch of the state of Uganda's and world population reports on November 12. 2008 at Hotel Africana in Kampala, the jovial brother to President Museveni painfully narrated how he suffers being referred to as minister in charge of Prosperity for All, popularly known as Bonna Bagaggawale.
Source : AllAfrica | 17-Nov-2008 15:40

Tanzania: Instant Loan Scheme Targets Civil Servants
Though not relatively new to Tanzania's nascent micro-finance industry, Instant credit Ltd which was incorporated as a locally registered micro - finance service provider in 2006, has grown from strength to strength and now boasts a network of over 30 branches across the country.
Source : AllAfrica | 17-Nov-2008 13:22

Nigeria: Diamond Bank Boosts Uyo Golf Tourney
The 2008 Annual Junior Golf Open championship has received a boost with the backing of Diamond Bank Plc who sees the sponsorship as part of its contribution to the development of the Nigerian Sport sector by way of empowering and harnessing the untapped talents in youths and nurtures them to develop a towering career in the elite sport.
Source : AllAfrica | 17-Nov-2008 11:03

Nigeria: Oceanic Registrars Sign on Six New Clients
The drive for customers by the Oceanic Registrars, a subsidiary of Oceanic bank International Plc has yielded results, with the firm clinching new big time accounts.
Source : AllAfrica | 17-Nov-2008 11:03

Nigeria: Bayelsa Releases N54 Million Counterpart Funding
Bayelsa State government has released the sum of N54 million as part of its counterpart funding for housing for civil servants in the state to the Federal Mortgage Bank (FMB).
Source : AllAfrica | 17-Nov-2008 10:43