ABUJA, March 29 Nigeria's central bank has approved a licence for the Development Bank of Nigeria, the finance ministry said on Wednesday.
The bank aims to support small-scale businesses as the country contends with its first recession in 25 years. It has a commitment from the World Bank for $1.3 billion in seed money. (Reporting by Felix Onuah; Writing by Alexis Akwagyiram; Editing by Andrew Roche)
MOVES-Wells Fargo Securities hires JPMorgan's commercial banking exec
June 26 Wells Fargo Securities named Donald Wenzel, a commercial banking veteran of JPMorgan Chase & Co , as executive vice president of its government and institutional banking unit and head of the division's business operations risk.