In the first half of 2023, the stock of global debt rose to $10 trillion, bringing the total to a record high of $307 trillion. This data was reported on September 9, 2023, by the Institute of Interna...
As the retail store faces bankruptcy threats, JCPenney has been in talks with major lenders to secure a $450 million “debtor in possession” (DIP) loan to keep the company afloat. The DIP loan is s...
United Bank for Africa has released its financial report for the first quarter of 2021, and the company recorded a profit before tax of N40.6 billion. This is about N8 billion more than the N32.7 bill...
In the first quarter of 2024, United Bank for Africa's post-tax profit increased by 166% to N142.58 billion, driven primarily by a significant rise in interest income.UBA's interest income increased f...
The Central Bank of Nigeria (CBN) made a significant move on Thursday, June 22nd, 2023, by auctioning $29.5 million at the interbank window. This auction showcased the CBN's intervention in the forex ...
Nigeria’s Mergers and Acquisitions Boom: Key Deals Shaping 2024Detailed Breakdown:2024 witnessed an unprecedented surge in mergers and acquisitions (M&A) activity in Nigeria, marking the busiest...
What is Bank Identification Number (BIN)?Definition A bank identification number (BIN) refers to the first four to six numbers reflected on a bank-issued card. The first digit of the BIN represen...
DefinitionA bank run is a term used to describe a situation where bank customers withdraw all the money in their deposit accounts for fear that the bank insolvency. The more customers withdraw their m...
FCMB Micro Finance Business was established as a division of First City Monument Bank (FCMB) in effort "to promote financial inclusion among the unbanked and underbanked." the bank wrote on its w...
Records show that Nigerian banks have borrowed N12 trillion from the Central Bank of Nigeria (CBN) in the past eight months. The CBN data showed that money borrowed from the apex bank from January to ...