Naijanewsngr- Nigerians living in the diaspora will soon have the opportunity to acquire Bank Verification Numbers (BVN) before the end of the year, according to Yemi Cardoso, the Governor of the Central Bank of Nigeria (CBN).

During a meeting with the Nigerian community in Washington, D.C., Cardoso announced that the initiative will be managed by the Nigerian Inter-Bank Settlement System (NIBSS). He emphasized that the BVN project will not only improve financial inclusion for diaspora Nigerians but will also bolster remittances sent back home. This strategic move aligns with the CBN’s broader goal of enhancing financial services for Nigerians globally, making it easier for them to maintain financial ties with Nigeria.

In his address, Cardoso stated, “As far as we are concerned, it is totally unacceptable that you should be out here and be having hassles in operating your accounts or doing business in your original country.” His remarks underscored the importance of ensuring that diaspora Nigerians can access and operate their Nigerian accounts without undue complications.

This initiative is expected to significantly impact diaspora remittances, a major source of foreign exchange for Nigeria. With a streamlined process in place, Nigerians abroad will be able to remit funds more easily, contributing to the nation’s economy. The BVN registration will allow for more secure and efficient financial transactions, while also opening doors for diaspora Nigerians to invest more actively in Nigeria.

In a separate meeting with international investors, Cardoso discussed the recent monetary policy reforms in Nigeria. He urged investors to explore the opportunities within the Nigerian market, highlighting the favorable economic climate for foreign investment. This call to action aims to attract international capital into the country, further driving economic growth.

By rolling out the BVN to Nigerians abroad, the CBN seeks to ensure that all citizens, regardless of location, can engage meaningfully with Nigeria’s financial system, strengthening the overall economy.

Naijanewsngr– Abbey Mortgage Bank, a leading institution in the mortgage sector, has made significant strides with its groundbreaking roadshow tagged “Abbey Sales Storm” held at the Federal Capital Territory (FCT), Abuja.

The “Abbey Sales Storm” is aimed at bringing the financial and real estate opportunities to residents of the Federal Capital Territory and sharing valuable information on how it can be achieved with the Abbey Mortgage Banking investment.

The exciting roadshow which kicked off on Thursday, October 17, 2024 made stops at different locations in Abuja including popular spots like UTC and Barnex with Sales reps and activation agents distributing flyers and engaging with prospective clients about its products and service offerings.

Speaking during the roadshow organized by the bank, The Group Head of Retail Sales and E-Business, Abbey Mortgage Bank, Felix Omodayo-Owotuga, noted that “It was a good turnout. We’re thrilled to have finally made a buzz here in Abuja. Our goal is to bring greater awareness to what Abbey has to offer, and today’s roadshow is a big step in that direction.”

Owotuga further noted;

“Abbey Mortgage Bank has a strong presence in Abuja, with branches in key locations including Baze University and Area 11, making it easier for residents to access their trusted mortgage and financial services.

“Abbey continues to lead the industry as an innovator in the Nigerian mortgage sector, not just offering mortgage services but also retail & investment banking solutions, positioning itself as a one-stop-shop for all domestic banking needs.” He added.

Abbey Mortgage Bank recently celebrated the annual Customer Service Week, with daily themed dress codes; ranging from dressing in attires to highlight the bank’s signature corporate navy blue colour, to a fun day in which staff ‘twinned’ outfits and Abbey-branded T-shirts. These activities underscore Abbey’s commitment not only to excellent customer service but also to fostering a positive and engaging work environment.

As Abbey continues to expand its footprint in the Nigerian finance sector, the bank remains dedicated to offering top-tier services in the mortgage space and beyond.

Zenith Bank Plc has announced the launch of a N290 billion hybrid rights issue and public offer. This strategic initiative aims to meet the Central Bank of Nigeria’s (CBN) new minimum capital requirement of N500 billion, while providing additional capital to support the bank’s growth and investment in technology infrastructure.

Naijanewsngr reports that the offer includes a Rights Issue of 5.233 billion ordinary shares at N36 per share for existing shareholders, alongside a Public Offer of 2.767 billion shares at N36.50 each. This represents a potential gain of about 32% for investors, with shares previously trading as high as N47.35.

Zenith Bank’s strong financial performance, including a 57% increase in share price over the past five years, makes it a compelling investment opportunity. In 2023, Zenith Bank was the most profitable listed bank on the Nigerian Exchange Group, with a pre-tax profit of N795.962 billion. The bank’s impressive performance continued into the first quarter of 2024, with a 189% rise in gross earnings to N781 billion compared to the previous year.

The bank has received multiple awards, such as the Best Commercial Bank in Nigeria for the fourth consecutive year by the World Finance Banking Awards, reflecting its robust corporate governance and customer service excellence.

Zenith Bank, founded by Jim Ovia, CFR, in 1990, is a leading financial institution in Africa and remains committed to delivering top-tier banking services.