Guaranty Trust Bank Plc has finally released its audited financial report for the year ended December 31, 2017, to the Nigerian and London Stock Exchanges.

A review of the results shows a positive performance all across financial indices, reaffirming the Bank’s position as one of the most profitable and well managed financial institutions in Nigeria.

See full financial report

Wow, what a report from one of the top banks in Nigeria, Zenith Bank who has finally released its financial statements for the year ended December 31, 2017.

Read Full reports

Sigma pension has decided to charge Small and Medium Enterprise to embrace contributory pension scheme by opening a  Retirement Savings Accounts under the Contributory Pension Scheme and embrace voluntary contribution for future references.

more details on this type of pension scheme

Keystone Bank Introduces new mobile banking application with many user-friendly features which can be accessed from the convenience of a mobile phone. This was taken into consideration in order to demonstrate its commitment to deliver superior and innovative banking solutions to its customers.

download the app here

Nigerian Credit card blacklisted as Egmont may expel Nigerian Financial Intelligence Unit. this is as a result of the expulsion in blacklisting Nigerian in international finance which will affect the use of MasterCard and Visa credit and debit cards by Nigerians.

see more reasons why Nigerian credit card will be blacklisted

Compounding or compound interest is the most important ratio or financial concepts on how to value interest on your investment. It could give you an answer to your question of “how do I make money from an investment?” or “how do I make money using money?”. You might recall learning compound interest in school.

see formula for compound interest

Wow, what a recognition First bank is really maintaining the name by showcasing the strength of its brand, TRULY THE FIRST who won two out of the three Central Bank of Nigeria awards up for grab in the keenly contested Nigerian Electronic Fraud Forum 2017 Annual Dinner and Awards Night held at the Federal Palace Hotel recently as they emerged the “Best FraudDesk” and the “most Cooperative FraudDesk” in the Industry.

see more reasons why FBN is recognized

Prior to the recent technology development by Nigeria banks, Central bank has given the drive to support the policy on cashless society and leverage on Information Technology, a total of eight deposit money banks have spent N34.2 billion on IT and electronic business infrastructure in nine months which ended September 30, 2017, and all this is to enhance the banking sectors for easy banking and information in order to satisfy customers needs.

see reasons for this huge expenses

Wow, This is a very important note that we need to look into before trading in any kind of investment in terms of seasons or time on when and how to invest. The most popular cryptocurrency Bitcoin hit the worst week in a trade last week since 2013 with rates dropped to below USD 12000 on constant warning by regulatory agencies on a likely bubble in the asset class in near term.

see more reasons for the reduction

This has come to my notice that the GBP rises above expectation in the UK expectation. This means that the pound US dollar exchange rate edged higher as the UK’s latest GDP figures came in stronger than forecast. The pound is currently trading at around $1.339 against the US dollar, up ever so slightly from this morning’s starting levels.

see more differences btw pound and dollar

Biometrics have been a financial technology buzzword for a while now, but 2018 is where companies like Mastercard are going to start the real work and show the impact of the word biometric. That means focusing on the smaller details and the platforms that will actively bring the technology to consumers, Bob Reany, EVP of identity solutions.

see more details on this

This is a dream of every immigrant family especially Nigerian to travel to the United States or Canada at least at some point in their lives even at the point of childbearing for citizenship sake.

The reasons for this action is to have incentives such as the stable economy, better healthcare as well as the privilege of the child being a citizen of the US and that of their parents.

What countries give citizenship by birth to foreigners?

This is a dream of every immigrant family especially Nigerian to travel to the United States or Canada at least at some point in their lives even at the point of childbearing for citizenship sake.

The reasons for this action is to have incentives such as the stable economy, better healthcare as well as the privilege of the child being a citizen of the US and that of their parents.

What countries give citizenship by birth to foreigners?

Technology has taken over the world of today this means that if you are not moving around it you are still setback in the world of today. Nigeria has started issuing a biometric visa, the first in Africa, designed to effectively block people that should not enter the country for security measures and future occurrence.

see more reasons for this

Technology has really revolve all round the sectors of the world. The more the hackers are out there learning new skills on how to steal away our cash,, sectors are also busy creating new technology to protect funds for security measure for future sake.

see how this method will work

The Bankers’ Committee and CBN has introduced another measure to customers who are loan defaulters to banks by using there Bank Verification Number (BVN) to blacklist their records from accessing further loans in the nation’s banking system.

more ways to blacklist defaulters

The Era of cheque truncation has served its purpose each day that passes the banking sectors finds a new means of technology in order to satisfy customers and give them an expected end in service delivery.


Nigeria Inter-Bank Settlement System [NIBSS] and Precise Financial Systems [PFS] have collaborated to unveil a new National Automated Clearing System [NACS], which allows all the Deposit Money Banks in the country to clear cheques within hours.


See more importance of partnership btw NIBBS and PFS

What is a Fixed Deposit: A fixed deposit is an investment with a specific amount of invested at an agreed interest rate and tenor. All banks in Nigeria offer this investment opportunity, however the rates you get when you invest in one bank may differ from what you get from another.

See how to calculate fixed deposit

Credit Cards are cards that are common in everyone’s wallet. Credit card companies can cut some cardholders who aren’t making them money. Your credit card issuer has the right to cancel your credit card at any time. Sometimes the credit card holder may not even get a warning when his or credit card is cancelled. When you try to swipe it somewhere only, you learn that your card has been cancelled.

see more reasons for credit card cancellation]

This has come to my notice that all eyes are on bitcoin as 2017 draws to a close: will the notoriously volatile cryptocurrency end the year at a $10,000 value? This is a serious question to answer.

Will bitcoin end 2017 at $10,000?

Enterprise pro is a retail management system for small and large businesses. In addition to its Point of Sale module, the solution also offers integrated Inventory Management, Customer Management, and Retail Accounting, including general ledger, purchase orders, unlimited users and payroll processing.

see more and call for installation

As much as there are many ratios that you could look for when buying a stock. However, there are many basic ratios that you must take into account for buying a stock. Here are 6 ratios you must take into consideration:

Read about the best 6 ratios

Once upon a time in Nigeria when blue chips companies visits tertiary institution on the day of convocation to offer jobs to best academic students who perform excellently in the period of 4 years but today that errand has stopped that passage of time is gone this is an errand were

Use your potential values not your credential values

This has come to my notice that the percentage of fraud been perpetrated in the banking industry is aid by so called contract or non core staffs of the bank. There are indications that the growing tendency among banks to give sensitive positions to contract staff is heightening the risk of lenders being hit by fraudsters, according to New Telegraph.

see more reasons for the fraud

Diamond Bank has decided it would sell West African banking operations in the following countries, Benin, Togo, Cote d’Ivoire and Senegal in order to [url]focus on the Nigerian[/url] retail banking opportunity.
The bank said that the company banking operations in the four West African countries would be sold to Manzi Finances S.A, a Cote d’Ivoire financial services holding company. also the bank mentioned in a statement, said that regulatory approvals for the transactions had been obtained in all jurisdictions anticipated to close before Dec. 31, 2017 by focusing its resources exclusively on Nigeria, Diamond Bank is poised to capitalize on the positive macro fundamentals inherent in the Nigerian market.

See reasons for the sales

This is to inform my readers that Banks in Africa, Nigeria banks inclusive, will from January 2019 be expected to adopt the Basel IV regulation, which is expected to place them at par with other global operators in Africa.

Read more why banks will adopt basel IV

This has come to my notice that most professionals do not have a fixed income and more so do not really know how to manage or invest with what they have but this post will help us know to know how to manage our fluctuating income.To better manage your finance and achieve the targeted financial outcome at some point in time in future despite the constraint of irregular cash flow you can go by the following few steps:


How to control Fluctuating income

Banking is so wide to an extend that security measures are been put in place in order to organised and ensure that customers funds are been secured. The Bio metric Verification number (BVN) was conceived by the Central bank of Nigeria in order to improve the process of “knowing your customer” (KYC).

see more reasons for this CBN actions

Ease of payment is one of the reasons some Nigerians shun e-payment related platforms. Now, with the rise of Unstructured Supplementary Service Data (USSD), payment has become even easier and on-the-go. That’s why, Holla Taxi, the new cab booking app, has delved into this space with a promise to allow USSD payments.

Reasons for this payment via USSD code

The Central Bank of Nigeria, CBN, has directed Deposit Money Banks in the country to stop Short
Message Service (SMS) charges on bulk bank transfers done through the Real Time Gross Settlement
(RTGS).
The banks were previously charging N4 per transaction or text message fee on all bulk transfers, but
were directed by the apex bank to halt such fees in the interest of customers.

[see reasons why CBN ask banks to stop

Eco-bank has partnered with Visa to launch Scan+Pay with mVisa solutions to their consumers to give them maximum satisfaction of services. The strategic tie-up signals interoperability on a cross border level and potentially huge gains as it affords consumers with the ability to use their mobile phone to directly access the funds in their bank accounts to pay person-to-merchant or person-to-person.

see countries involved in this launching

The introduction of The Unstructured Supplementary Service Data (USSD) banking service across banks in Nigeria has made banking transactions seamless. This is a type of banking that allows you perform bank transactions by simply dialing a short code on your phone without internet connection. The USSD is a Global System for Mobile (GSM) communication technology. It is used for sending texts messages between a mobile phone and an application programme in the owners’ network.

See do's and don,t of USSD