There are strong indications that the on-going wind of massive job cuts in banks will blow unabated before the end of the year.
Investigations by the Nigerian Tribune indicated that apart from the two banks that sacked over 4,000 workers over the weekend, four banks have also concluded plans to distribute sack letters today.
Nigerian Tribune learnt that two of the four banks fall in the category of those declared safe and sound by the recent special audit instituted by the Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC). Read the rest of this entry »
For Nigerian banks to avoid another case of bail-out by the government, there is a need to properly reassess the risks they take, review their risk management systems, and create a value system that is embodied in capacity and character.
As African banks strive to meet regulatory trends within the global financial market, First Bank of Nigeria is staying ahead of the pack with the acquisition of a world-class risk management solution from SAS.
Skye Bank, one of the top 10 banks in Nigeria, has undertaken to implement the SAS Money Laundering Detection solution across its organisation. Skye Bank is one of the industry leaders in Nigeria. It is a publicly quoted company with over 500,000 shareholders, and operates out of over 250 branches and transaction centres across Nigeria, serviced by over 6,000 professional bankers and business experts with a N1 trillion ($7 billion) balance sheet.
