First City Monument Bank

We Didn’t Mistakenly Transfer ₦573m Into Omale’s Account – FCMB

We Didn’t Mistakenly Transfer ₦573m Into Omale’s Account – FCMB

First City Monument Bank, FCMB, has debunked reports that the sum of ₦573 million was mistakenly transferred into the account of Pastor Emmanuel Omale in error.

Pastor Omale is an associate of the suspended acting Chairman of the Economic and Financial Crimes Commission, EFCC, Ibrahim Magu.

The Managing Director of FCMB, Adam Nuru, was reported to have said the bank just discovered that N573 million was mistakenly posted into the church account of Pastor Omale while testifying before the Presidential Committee on Audit of Recovered Assets last Thursday.

The Presidential Committee on Audit of Recovered Assets (PCARA) had accused Magu …

In Q2, FCMB sustains new strengths

In Q2, FCMB Sustains New Strengths

First City Monument Bank (FCMB) sustained new strengths in operations in the second quarter despite the challenges of the COVID-19 economic lockdown. The bank kept all the growth levers up from the closing levels in 2019.

The addition of new strengths and retention of some key capabilities of the preceding year constitutes the operating advantage for the bank this year. It is maintaining the elevated revenue outlook seen in the first quarter, which is happening for the first time since 2017.

Both interest and non-interest incomes are contributing to revenue improvement but non-interest earnings keep leading the way. Against a …