Islamic Banking On The Rise

The Central Bank of Nigeria, CBN has acceded to rising demand for Islamic financing also known as Islamic banking in Nigeria by increasing the number of Islamic Bank to two. The apex bank recently announced that it has licensed more banks for operations. Two more commercial banks, Blobus Bank and Titan Bank have been given approval to operate, thus increasing the number of commercial banks in the country to 23. The CBN also gave approval for Taj bank to operate as an Islamic financing institution. In 2012, then CBN governor,…

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N219m Fraud: Sterling Bank Loses More Customers

Victim Drags Bank to Court By Bayo Bernard Just barely two months after his elevation as Managing Director of Sterling Bank Plc. Abubakar Suleiman faces a striking point in his career. Suleiman had held the position of Executive Director, Finance and Strategy from May 2012 till January this year when he was appointed the Chief Executive Officer, CEO following the retirement of Yemi Adeola, the former managing director of the bank. As the bank’s chief strategist for five years between 2012/2017 the new CEO cannot be unaware of a financial…

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