HENCEFORTH, microfinance banks that use Wema Bank as its corresponding bank would need to provide ‘tangible collateral’ to guarantee ‘third-party cheque’, BusinessWorld Intelligence can now reveal.

FIRST Bank of Nigeria Plc has expressed strong commitment to agricultural financing. This, it says, was to play an exemplary role in the development of the nation’s agricultural and allied sectors.
As a financial supermarket, the bank promises both the rural and urban farmers financial assistance to help them grow more crops.

As part of its sanitisation campaign in microfinance market, the Central Bank of Nigeria (CBN) will soon wind-up some microfinance banks in Lagos and other states of the federation, BusinessWorld Intelligence can now reveal.

Depositors of failed Microfinance Banks (MFBs) may have a bleak Christmas and New Year as their funds have been trapped in these institutions. BusinessWorld Intelligence can reveal that over 500,000 customers of these banks are affected by this development.

THE gross exposure of financial institutions especially banks, to margin loans have been attributed to lack of ethics in the financial system.

TO make sure that workers, especially salary earners meet their needs anytime they want, Sterling Bank plc has unveiled ‘Salary Advance Facility’. The facility is to help people meet their emergency needs without necessarily waiting till the end of the month.

ZENITH Bank plc has launched a treasury scheme into the financial market. The scheme, the bank says, provides exceptional services that are tailored to suit the peculiar needs of each of its customers.

FOLLOWING the proposed increment in the capital base of Microfinance Banks (MFBs) by the Central Bank of Nigeria (CBN), likely mergers and acquisition may soon take place in the industry.