CBN Alloted 3 New Banking Licences To Banks

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The Central Bank of Nigeria has issued licences to three new banks.

According to an updated list made available on the apex bank’s website, the number of banks has increased to 23 from 21.

The CBN also issued a licence to a non-interest bank, increasing the number to two.

The new deposit money banks are Titan Trust Bank Limited and Globus Bank Limited.

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TAJ Bank Limited also joins Jaiz Bank as a non-interest bank.

In June, Godwin Emefiele, CBN governor, had announced that the bank is considering a recapitalisation exercise for deposit money banks in the country.

“In the next five years, we intend to pursue a programme of recapitalising the Nigerian banking industry so as to position Nigerian banks among the top 500 in the world,” he said.

Bank recapitalization is the act of changing the capital structure of a bank to provide more equity funds to meet the bank’s long-term financing needs to ensure the security of shareholders fund.

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In July 2004, the CBN announced the recapitalization of the banking sector from N2 billion to N25 billion with effect from December 31, 2005.

Read Also:  Local Bourse Sees Highest Week-On-Week Decline in 10-Months Amidst Coronavirus Scare-Induced Sell-Off

This led to the reduction in the number of banks to 24 from 89.

A number of mergers saw that figure drop to 21.

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CBN Alloted 3 New Banking Licences To Banks - Brand SpurCBN Alloted 3 New Banking Licences To Banks - Brand Spur

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CBN Alloted 3 New Banking Licences To Banks - Brand SpurCBN Alloted 3 New Banking Licences To Banks - Brand Spur

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Hong Kong ICT Awards 2021 opens for enrolment

HONG KONG SAR - Media OutReach - 23 April 2021 - The Hong Kong ICT Awards (HKICTA) 2021 is open for enrolment today (April 23). Entries of locally developed information and communications technology (ICT) products and solutions are invited to compete for the Grand Awards in the eight award categories, and the top accolade of the competition - the Award of the Year. The deadline for enrolment is July 16, 2021.


Steered by the Office of the Government Chief Information Officer (OGCIO), the HKICTA 2021 is organised by eight local industry associations and professional bodies. The award categories and respective Leading Organisers are listed below:


Award Categories

Leading Organisers

Digital Entertainment Award

Hong Kong Digital Entertainment Association

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The Hong Kong Institute of Bankers

ICT Startup Award

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Smart Business Award

Hong Kong Computer Society

Smart Living Award

Hong Kong Information Technology Federation

Smart Mobility Award

GS1 Hong Kong

Smart People Award

The Hong Kong Council of Social Service

Student Innovation Award

Hong Kong New Emerging Technology Education Association


A Grand Award will be granted in each category. A Grand Judging Panel, to be led this year by the President of the Hong Kong University of Science and Technology, Professor Wei Shyy, will select the Award of the Year from the eight Grand Awardees.


Since its debut in 2006, the HKICTA has endeavoured to recognise and promote outstanding ICT inventions and applications, thereby encouraging the pursuit of innovation and excellence among Hong Kong's ICT professionals and enterprises to meet business and social needs, bring benefits to the community through adoption of innovation and technology, and foster Hong Kong's smart city development together.


Details of the HKICTA are available on the thematic website (www.hkictawards.hk). Enquiries can be made to the OGCIO at 2582 4318 or by emailing [email protected]


CBN Alloted 3 New Banking Licences To Banks - Brand Spur
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