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NIGERIAN BANKING SECTOR
this article is focused on the extent of compliance with Principle 2 of the Nigerian Code of Corporate Governance (NCCG, 2018), which mandates that boards possess an appropriate mix of skills, experience, independence, and diversity to effectively carry out their oversight role.
The Corporate Affairs Commission (CAC) has announced guidelines for the recapitalization and merger of banks and other financial institutions, among other matters.
The recapitalization frenzy sees Access, GTB, and Fidelity leading, while NGX Invest aims to revolutionize public participation in equity offerings
Rumours can wreak havoc. Deadly whispers and baseless news have toppled strong Banks in advanced countries like the United Kingdom, the United States of America, and Germany among others causing systemic crises in their financial systems.
The outbreak of COVID-19 and the sharp downturn in crude oil prices have continued to stoke fears of a further devaluation in the Naira.
GTBank Plc, Zenith Bank, Access Bank, First Bank of Nigeria (FBN), and United Bank of Africa (UBA) Plc spent over N4.7 billion on their Corporate Social Responsibilities in 2019.
CBN released an exposure draft guideline for the regulation and supervision of microfinance banks in Nigeria following a review of the 2012 guidelines.
Heritage Bank Plc has expressed commitment to focus more on retail banking while availing low-income earners and rural dwellers the opportunity to be financially included.