WELLPRESSBLOG: BANKING

Showing posts with label BANKING. Show all posts

Thursday, 8 December 2022

CBN CASH WITHDRAWAL POLICY TO ALL NIGERIANS

HML December 08, 2022 0

The central bank had placed a cap on cash withdrawals under the new dispensation, restricting the maximum cash withdrawal over the counter (OTC) by individuals and corporate organisations per week to N100,000 and N500,000 respectively.

The bank, in a letter dated December 6, 2022, which was addressed to all Deposit Money Banks, and Other Financial Institutions, Payment Service Bank (PSBs), Primary Mortgage Banks (PMBs), and Microfinance Banks (MFBs), also stated that third party cheques above N50,000 shall not be eligible for OTC payment while extant limits of N10 million on clearing cheques still remains.

The new withdrawal regime which may be targeted at curbing vote-buying as the 2023 elections draw closer, among others, further pegged the maximum cash withdrawal per week via Automated teller Machine (ATM) at N100,000 subject to a maximum of N20,000 cash withdrawal per day, adding that only denominations of N200 and below shall be loaded into ATMs while the maximum amount that can be withdrawn via Point of Sale (POS) terminal was limited to N20,000 daily.

2018 AFRIMMA Awards & Music Festival releases nominees list

MUSIC

HML August 10, 2018 0

The 5th edition of the Biggest African Music Awards in Diaspora, AFRIMMA 2018 Awards & Music Festival is fast approaching and the announcement of the nominees list is set to crank up the anticipation.

*Falz performing on stage
Over the past one year African music stars from over 52 countries in the continent have put out beautiful musical works and the board of Afrimma after a thorough and excruciating screening process has come up with these nominees.
African musical heavyweights like Davido, Wizkid, Fally Ipupa, Diamond Platinum, Ali Kiba, Khaligraph Jones, Mr Eazi, J Hus, Hiro all earn nomination for a brilliant and consistent year.

While fresh talents like Ghana’s Kwame Eugene, Kenya’s Arrowboy, Uganda’s Ykee Benda, South Africa’s Tresor amongst others also earn their first Afrimma Awards & Music Festival nomination. This year, AFRIMMA has decided to add another category to the awards show — (AFRIMMA ACHIEVERS AWARD).
This category would be celebrating the feats of African stars in the fields of entertainment and sports.

The AFRIMMA 2018 Awards & Music Festival would take place at the prestigious ‘House of Blues’, Dallas, Texas on October 7th, 2018 and it promises to be another thrilling edition and probably the best so far.

Every year, the bar is raised higher and African music fans can expect no less this year as African music stars align in Dallas, Texas to celebrate the beauty of the music and culture of the continent. Check out the full nominees list below and head to www.afrimma.com to vote for your favorite artists.

Nominees in full:

Best Male West Africa

1. Wizkid – Nigeria

2. Tekno – Nigeria

3. Sarkodie – Ghana

4. Davido – Nigeria

5. Toofan – Togo

6. J Hus – Gambia

7. Sidibe Diabate – Mali

8. Stonebwoy – Ghana

9. Kiss Daniel – Nigeria

10. Mr Eazi – Nigeria

Best Female West Africa

Tiwa Savage – Nigeria

Simi – Nigeria

Efya – Ghana

Adiouza – Senegal

Ebony – Ghana

Josey – Ivory Coast

Vivien Chidid – Senegal

Chidinma – Nigeria

Becca – Ghana

Yemi Alade – Nigeria

Best Male East Africa

Eddy Kenzo – Uganda

Diamond Platnumz – Tanzania

Harmonize – Tanzania

Ommy Dimpoz – Tanzania

Sauti Sol – Kenya

Khaligraph Jones – Kenya

Ali Kiba – Tanzania

Bebe Cool – Uganda

Nyashinski – Kenya

Juma Jux – Tanzania

Best Female East Africa

Victoria Kimani – Kenya

Vanessa Mdee – Tanzania

Leyla Kayondo – Uganda

Knowles Butera – Rwanda

Rema – Uganda

Akothee – Kenya

Nandy – Tanzania

Sheebah Karungi – Uganda

Juliana Kanyomozi – Uganda

Charly & Nina – Rwanda

Best Male Central Africa

Fally Ipupa – Congo

Hiro – Congo

Numerica – Cameroon

C4 Pedro – Angola

Locko – Cameroon

Maitre Gims – (Congo)

Naza – Congo

Puto Portugues – Angola

Anselmo Ralph – Angola

Kyaku Kyadaff – Angola

Best Female Central Africa

Yola Semedo – Angola

Shan’l -Gabon

Neima – Mozambique

Rennis – Cameroon

Charlotte Dipanda- Cameroon

Nsoki – Angola

Daphne – Cameroon

Maria Andrade – Cape Verde

Edmanzia – Angola

Gasha – Cameroon

Best Male Southern Africa

Tha Dogg – Namibia

Nasty C – South Africa

Emtee – South Africa

Roberto – Zambia

Cassper Nyomvest- South Africa

Tresor- South Africa
EXQ – Zimbabwe

Jah Prayza – Zimbabwe

Shyn – Madagascar

Prince Kaybee – South Africa

Best Female Southern Africa

Ammara Brown – Zimbabwe

Busiswa – South Africa

Shekinah – South Africa

Mampi – Zambia

Lady Zamar – South Africa

Babes Wodumo – South Africa

Sally Boss Madam – Namibia

Shashl__ – Zimbabwe

Ice Queen Cleo – Zambia

Bucie – South Africa

Best Male North Africa

Saad El Majarid

Ihab Amir – Morroco

Chawki – Morocco

Khaled – Algeria

Mohammed Abbas – Egypt

Douzi – Morocco

Amr Diab – Egypt

Khaled – Algeria

Saber Rebai – Tunisia

Tamer Hosny – Egypt

Best Female North Africa

Kenza Morsli – Algeria

Ibtissam Tiskat – Algeria

Souhila Ben Lachhab – Algeria

Angham – Egypt

Latifa – Tunisia

Amani Swissi – Tunisia

Sandy – Egypt

Sarah Ayoub – Morocco

Samira Said – Morocco

Amal Maher – Egypt

Best African Group

Sauti Sol – Kenya

Mafikizolo- South Africa

Toofan – Togo

B26 – Angola

Mi Casa – South Africa

R2bee’s – Ghana

X-Maleya – Cameroon

Bracket – Nigeria

Navy Kenzo – Tanzania

Fancy Gadam – Ghana

Crossing Boundaries With Music Award

J Hus – Gambia /UK

Skepta – Nigeria / UK

Stormzy – Ghana/UK

MHD – Senegal/ France

Tobe Nwigwe – Nigeria

Brian Soko – Zimbabwe

French Montana – Morocco/USA

Wale – Nigeria /USA

Young Paris – Congo

Steff London – Caribbean /UK

Best Gospel

Frank Edwards – Nigeria

Gloria Muliro – Kenya

Beejay Sax – Nigeria

Papa Dennis – Kenya

Miguel Buila – Angola

Joe Mettle – Ghana

Icha Chavons – Congo

Willy Paul – Kenya

Nikkie Laoye – Nigeria

Winnie Mashaba – South Africa

Best Newcomer

Mayorkun – Nigeria

Kuami Eugene – Ghana

Distruction Boyz- South Africa

King Promise – Ghana

Tenor -Cameroon

Dice Ailes – Nigeria

Ykee Benda – Uganda

Arrow Boy – Kenya

Neru Americano – Angola

Afro B – Ivory Coast

Artist of The Year

Davido – (Nigeria)

Diamond Platnumz ( Tanzania)

Fally Ipupa- Congo

Wizkid -(Nigeria)

Cassper Nyovest -(South Africa)

Nasty C -South Africa

Flavour – Nigeria

Sarkodie – Ghana

MHD – Senegal/Gambia

Mafikizolo – South Africa

Best Live Act

Flavour – Nigeria

Ali Kiba – Tanzania

Sauti Sol – Kenya

Stonebwoy – Ghana

Sidiki Diabate – Mali

Yemi Alade – Nigeria

Becca – Ghana

Burnaboy – Nigeria

Fally Ipupa – Congo

Jah Prayzah – Zimbabwe

Best Video Director

Justin Campos – South Africa

Patrick Elis- Nigeria

Dr Nkeng -Cameroon

Enos Olik – Kenya

Avalon Okpe – Nigeria

Godfather – South Africa

Clarence Peters – Nigeria
Prince Dovlo – Ghana

Sasha Vybz – Uganda

Unlimited LA – Nigeria

Best Dj Africa

Dj Spinall – Nigeria

Dj Joe MFalme – Kenya

Dj Black Coffee – South Africa

Dj Cuppy – Nigeria

Dj Dollar – Senegal

Dj D-Ommy – Tanzania

Dj Helio Baiano – Angola

Dj Crème Delacreme – Kenya

DJ Slim- Ghana

Dj Neptune – Nigeria

Best African Dj USA

Dj Tunez – Nigeria

Dj Wagura – Ethiopia

Dj Fully Focus – Kenya

Dj Deemoney – Nigeria

Dj Silent Killa – Carribeans

Dj Poison Ivy – Kenya

Dj Ecool – Nigeria

Dj Rell – Sierra Leone

Dj Buka – Nigeria

Dj Shinski – Kenya

AFRIMMA Video of The Year

Shatta Wale – El Gringo

Fally Ipupa – Mannequin feat Keblack & Naza

Falz – This is Nigeria

Wizkid – Soco

Diamond Platnumz ft Omarion – African Beauty

Toofan – Money

Runtown – Energy

Mayorkun – Cheche

Ali Kiba – Mvumo Wa Radi

Cassper Nyovest – Ksazobalit

Music Producer of The Year

Killbeatz – Ghana

Masterkraft – Nigeria

Dr Fizzo – Uganda

Eno Beats – Uganda

The Composers – Nigeria

Tweezy – South Africa

Tud Thomas – Tanzania

Sidiki Diabate – Mali

Kidomminant – Nigeria

Bebe Philip – Ivory Coast

Best African Dancer

Kaffy Dancequeen – Nigeria

The Grove – Angola

Sherri Silver – Rwanda

La Petite Zota – Ivory Coast

Manuel Canza Laurenzo – Angola

Moses Iyobo – Tanzania

Ghetto Triplet Kids(Uganda)

Dream chaser Kids (Nigeria)

Dem3 – Ghana

Didi Emah – Nigeria

Best Rap Act

Shane Eagle – South Africa

Olamide – Nigeria

Zoro – Nigeria

Sarkodie – Ghana

Tha Dogg – Namibia

Casper Nyovest – South Africa

MHD – Senegal

Phyno – Nigeria

Nasty C – South Africa

Khaligraph Jones – Kenya

Best Collaboration

Tiwa Savage ft Wizkid – Ma Lo

Diamond Platnumz ft Neyo – African Beauty

Duncan Mighty x Wizkid – Fake Love

Heavy K ft Bucie , Wokwazi – Inde

Nasty C ft Runtown – Said

Kwesta ft Wale – Spirit

Fally Ipupa – Mannequin ft Kebzla & Naza

Major Lazer ft Dj Maphorisa , Ice Prince, Patoranking & Jidenna – Particular

Nsoki ft Rayvanny – African Sunrise

Dj Spinall ft Wizkid – Nowo

Song of The Year

Wizkid – Soco

Big Shaq – Man’s Not Hot

Davido – FIA

Distruction Boyz – Omunye

Diamond Platnumz ft Omarion – African Beauty

Afro B – Joanna (Drogba)

Nasty C & Runtown – Said

Duncan Mighty ft Wizkid – Fake Love

Major Lazer & Dj Maphoriza ft Ice Prince , Nasty C , Patoranking & Jidenna – Particular

Harmonize ft Diamond Platnumz – Kwangaru

Best Lusophone

C4 Pedro – Angola

Mr Bow – Mozambique

Preto Show – Angola

Nelson Freita – Cape Verde

Anselmo Ralph – Angola

Maira Andrade – Cape Verde

Cakema – Sao Tome

Kyaku Kyadaff – Angola

Puto Portugues – Angola

Yola Semedo – Angola

Best Francophone

Stanley Enow – Cameroon

Fally Ipupa – Congo

Hiro – Congo

Toofan – Togo

Serge Beynaud – Ivory Coast

Dj Arafat – Ivory Coast

Daphne – Cameroon

Numerica – Cameroon

Maitre Gims – Congo

Locko – Cameroon

Best African Dancehall/Reggea Act

Stonewbwoy – Ghana

Burnaboy – Nigeria

Shatta Wale – Ghana

Timaya – Nigeria

Samini – Ghana

Patoranking – Nigeria

Winky D – Zimbabwe

Yxng Bane – Congo/Angola

Wyre – Kenya

Takana Zion – Guinea

AFRIMMA ACHIEVERS AWARD

Luol Deng – South Sudan

Trevor Noah – South Africa

Lupita Nyongo – Kenya

Fatma Samoura – Senegal

Kamaru Usman – Nigeria

Serge Ibaka – Congo

Bismack Biyombo – DRC

D. J Mbenga – Congo DRC

Nigerian Bobsled Team

Djimon Honsou – Benin

2018 AFRIMMA Awards & Music Festival releases nominees list

MUSIC

HML August 10, 2018 0

Davido posted on his twitter about the 02 arena sellout ticket

Lifestyle

HML July 19, 2018 0

Beautiful people in London. It’s time for us to sellout O2 Arena 27th Jan 2019. Follow this link to purchase PreSale tickets (live for only 48hrs)https://t.co/UcnpQyJMlG
password is ‘smadenation’
#DavidoLiveat02 #Davidoo2arena @smadeevents @livenationuk @iamsmade 🚀🚀🚀 pic.twitter.com/VCI3N86GqJ
— Davido (@iam_Davido) July 18, 2018

Davido posted on his twitter about the 02 arena sellout ticket

Lifestyle

HML July 19, 2018 0

Beautiful people in London. It’s time for us to sellout O2 Arena 27th Jan 2019. Follow this link to purchase PreSale tickets (live for only 48hrs)https://t.co/UcnpQyJMlG
password is ‘smadenation’
#DavidoLiveat02 #Davidoo2arena @smadeevents @livenationuk @iamsmade 🚀🚀🚀 pic.twitter.com/VCI3N86GqJ
— Davido (@iam_Davido) July 18, 2018

CBN denies assigning dollars

business

HML December 04, 2016 0

The Central Bank of Nigeria has debunked the report that it has started allocating United States dollars.
The apex bank said it had rather set up an interbank foreign exchange market for anyone interested in buying the greenback through Deposit Money Banks.
The Acting Director, Corporate Communications, CBN, Mr. Isaac Okorafor, said this in a statement issued on Sunday.
Okorafor was apparently reacting to a statement credited to Emir of Kano, Sanusi Muhammad II, who had on Friday said the country’s foreign exchange management lacked credibility.

Okoroafor said, “There is one rate for petroleum marketers, there is inter-bank rate, there is another for money market operators such as Western Union and MoneyGram, there is the Bureau De Change rate, and there is a special rate that you get when you call the CBN for a transaction.”

“It is not true that the CBN allocates dollars. There is nowhere in the world that the central bank sits by and allows vicious speculators to solely distort the value of its currency endlessly,” Okoroafor added.

According to him, all central banks intervened to buy or sell in the market to ensure that local currencies were protected from dubious attacks.

Okorafor said, “The channels for advice and contribution of ideas on the current economic situation by all patriotic Nigerians are open. It is rather unfortunate that some people have chosen to play to the gallery and to make statements to disparage those in leadership at this time in total insensitivity to the larger interests of the Nigerian economy.

“We should not forget that the seed of our current economic crisis was planted by the failure of those who occupied public offices in the past but failed to act in the long-term interest of the Nigerian economy. It is easy to criticise from outside.”

Okorafor said, “The challenge we face today is a choice between pandering to the established interest in Nigeria’s speculative economy and the protection of the wages of the real stakeholders who work hard on fixed incomes and are the core victims of naira depreciation.

“Already, Nigerians are waking up to the call to be more productive and look inwards, and to be less dependent on the importation of foreign goods and services.‎”

CBN denies assigning dollars

business

HML December 04, 2016 0

Banks reject naira for visa payment

business

HML October 29, 2016 0

THE ATM

Thousands of United Kingdom and Canadian visa applicants and intending travellers wanting to book hotels online were stranded on Monday as Deposit Money Banks stopped their naira debit cards from being used for dollar and other foreign currency-denominated transactions.

The DMBs had on Friday stopped their naira debit cards from dispensing dollars to customers via Automated Teller Machines in foreign countries, as well as disallowed the cards from being used for online and Point of Sale transactions.

The banks cited dollar scarcity and volatility in the foreign exchange market as reasons.

Guaranty Trust Bank, Standard Chartered Bank and Stanbic IBTC Bank have already stopped the withdrawal of foreign currencies from the ATMs by their customers who travel abroad and cut the value of their online and PoS transactions to $100 per month.

The development made the UK visa applicants wanting to pay the mandatory $118 for the six-month and $499 for the two-year visas through their naira debit cards to be stranded.

Payment for the UK visa is done online via the government-designated website.

Travelling agents and applicants said they could not complete the UK visa application procedures on Monday. They said payments with naira debit cards of Guaranty Trust Bank Plc, Ecobank Nigeria, United Bank for Africa Plc and other banks were declined.

It was further learnt that intending travellers and visa applicants wanting to make hotel booking online could not do so as their transactions via the naira debit cards were declined by the banks.

“This is terrible. I am finding it difficult to pay for my UK visa online. I have filled the form. I have got to the payment section and I was trying to pay online but the transaction was declined,” a visa applicant, who identified himself simply as John, told our correspondent at the UK visa application centre in Victoria Island, Lagos on Monday.

Travelling agents assisting the visa applicants to fill their forms said they found it difficult to make payment for UK and Canadian visas online using naira debit cards.

The Chief Executive Officer, Flying Partner, a Lagos-based travel agency, Mr. Kunle Oladele, said, “We could not make payment for the UK and Canadian visa applications online. The few payments we made were done through our partners in foreign countries, who used international debit cards issued by foreign banks.

“We called our partners in South Africa, UK and the United States to do so for us. It is very terrible. I am not sure we can continue like this. Canadian visa applicants will have to go to the country’s visa office now.”

Bank officials told our correspondent on Monday that they could not help the situation, citing the scarcity of dollars as the reason for the suspension of visa payment services.

“There is no dollar again in the country. There is nothing we can do about it,” an official of GTBank told our correspondent on the condition of anonymity.

Meanwhile, hundreds of customers besieged banking halls on Monday to apply for dollar debit cards, a day after the banks suspended naira debit cards from working overseas.

When our correspondent visited some bank branches, crowds of customers were seen filling forms to open domiciliary accounts and to obtain dollar debit cards.

Stanbic IBTC Bank and Standard Chartered Bank Nigeria had on Friday advised customers seeking to carry out transactions denominated in foreign currencies to apply for dollar or pound sterling debit and credit cards.

According to them, such cards will be linked to the customers’ domiciliary accounts.

In a notice to customers on Friday entitled: ‘Review of the international spending limit on your naira MasterCard’, GTBank stated, “We write to inform you of the monthly spending limit currently applicable when using your GTBank naira MasterCard for international payments via PoS and online.

“(The) previous monthly limit via PoS and online was $250; the new monthly limit via PoS and online is now $100. Kindly note that ATM cash withdrawal on your naira MasterCard is now only available in Nigeria.”

The development has also made students studying in the UK, US, Canada, Ukraine and other parts of the world to face more challenges getting their monthly stipends from their parents.

Most of the students had relied on ATM card withdrawals to get their monthly stipends from their parents before now.

Although other banks have yet to announce the suspension of ATM card services abroad, findings by our correspondent showed that many lenders had reduced drastically the amount that customers could withdraw via ATMs abroad.

The decision by some banks to suspend overseas ATM card services and online forex transactions came barely one week after the Central Bank of Nigeria, through the Bankers’ Committee, raised concerns about what it called the indiscriminate and suspicious manner in which some bank customers were spending dollars and other foreign currencies abroad through their naira debit cards.

Consequently, the regulator said it had concluded that bank customers who spent above the $50,000 annual forex limit it imposed would be barred from the forex market.

Dollar scarcity has been ravaging the economy after the price of crude oil, Nigeria’s main forex earner, crashed from $115 per barrel in June 2014 to around $51.4 per barrel currently.

The nation’s foreign exchange reserves have been depleting since then.

Last Wednesday, the country’s external reserves hit an 11-year low of $24.21bn, the latest data posted on the CBN website showed.

Banks reject naira for visa payment

business

HML October 29, 2016 0

Top Five Nigerian Banks Face Credit Challenges Ahead

business

HML October 10, 2016 0

While Nigeria’s five biggest banks share common credit challenges related to the slowdown in Nigeria’s oil and gas dependent economy, their ability to withstand weak economic growth and volatile monetary conditions varies, one of the global rating agencies, Moody’s Investors Service said in a report monday.

The banks – Zenith Bank Plc, Guaranty Trust Bank Plc, Access Bank Plc, United Bank for Africa Plc (UBA), and First Bank of Nigeria Limited, have all been affected by the weakening domestic operating environment following the prolonged period of lower oil and gas prices, it stated.
It further pointed out the more challenging environment, coupled with Moody’s view of the high likelihood of support from the Nigerian government, largely explains its narrow range of issuer ratings of the five banks.

“However, despite shared credit challenges, there are differences among the banks in terms of their respective abilities to withstand weak economic growth and volatile monetary conditions, which are reflected in their differing baseline credit assessments (BCAs) that range from b1 to b3,” a Moody’s Vice President Senior Analyst and co-author of the report, Akin Majekodunmi added.
“Overall, Moody’s views Zenith and GTBank as best placed to cope, followed by Access and UBA, and then FBN.”

The publication of the peer comparison report followed Moody’s announcement on 15 September that the ratings agency had assigned first-time ratings to Zenith, GTBank, UBA and FBN, which account for approximately 48 per cent of Nigeria’s banking assets.

Looking across the whole of the Nigerian banking sector, Moody’s expects non-performing loans (NPLs) to increase to around 12 per cent over the next 12 months, compared to the five per cent as of December 2015 recorded in central bank data. The forecast rise in NPLs stems from lower oil prices, a weakening naira, slower GDP growth and rising inflation.

“Likewise, the agency expects foreign currency deposits, which have fallen around 30 per cent since the start of 2015, to stabilise over the next 12 to 18 months as the impact of lower oil prices and the central bank’s adoption of a Treasury Single Account fades.

“Moody’s expects loss-absorbing capital buffers to hold steady on account of muted loan growth of around 5-10 per cent over the next 12 to 18 months. However, as a result of this weak loan growth, net interest income and fee and commission income will remain depressed.

“On the upside, Nigeria’s economic potential remains strong and continues to attract investment. Depositor confidence and local currency buffers at the banks also remain robust,” it added.

Top Five Nigerian Banks Face Credit Challenges Ahead

business

HML October 10, 2016 0

WELLPRESSBLOG

Hot

Search This Blog

Photography

Thursday, 8 December 2022

CBN CASH WITHDRAWAL POLICY TO ALL NIGERIANS

Friday, 10 August 2018

2018 AFRIMMA Awards & Music Festival releases nominees list

2018 AFRIMMA Awards & Music Festival releases nominees list

Thursday, 19 July 2018

Davido posted on his twitter about the 02 arena sellout ticket

Davido posted on his twitter about the 02 arena sellout ticket

Sunday, 4 December 2016

CBN denies assigning dollars

CBN denies assigning dollars

Saturday, 29 October 2016

Banks reject naira for visa payment

Banks reject naira for visa payment

Monday, 10 October 2016

Top Five Nigerian Banks Face Credit Challenges Ahead

Top Five Nigerian Banks Face Credit Challenges Ahead

MGID

Social

Recent

Popular

Recent

Comments

Archive

Sponsor

Photography

About Us

infolink

Contact Form

Labels