ASSETS & FINANCIALS

In an effort to reduce the unemployment rate in the country, the Central Bank of Nigeria, said it has approved the sum of N3 million credit line to each beneficiary of Youth Innovative Entrepreneurship Development Programme, YIEDP. The Governor of …

The Consumer Protection Council on Thursday said it was investigating cases of consumer rights abuse by the banking and hospitality sectors of the economy. The Director-General, CPC, Mrs. Dupe Atoki, disclosed this at a stakeholders’ workshop held in Abuja as …

The House of Representatives on Thursday began an investigation into the alleged ‘secret’ recruitment of 909 employees by the Central Bank of Nigeria. The controversial recruitment was reportedly carried out by the apex bank on the directive of the Governor, …

An economic retreat convened by the present administration to offer solutions to the current economic challenges facing Nigeria will hold on Monday and Tuesday next week. The retreat, being put together by the National Economic Council, which has the 36 …

The Minister of Power, Works and Housing, Babatunde Fashola, has said that the Federal Government will exploit the country’s construction sector to grow its economy. Fashola, who spoke in Abuja during a stakeholders’ workshop organised by the Quantity Surveyors Registration …

Even with its $1.1b investment in Nigeria, the Turkish government has called for increased investments and collaborations with Africa’s biggest economy. To this end, the Turkish government said it is ready and willing to invest in the nation’s agriculture; energy …

The Central Bank of Nigeria on Wednesday granted an approval-in-principle to Innovectives to operate as a super-agent in the country’s financial services system. Innovectives is a provider of secure and affordable transaction channels for the unbanked and under-banked members of …

Indigenous pharma-ceutical company, May & Baker Nigeria Plc, said it recorded 10 per cent growth in 2015 despite the economic crisis at the time. The Managing Director, M&B, Mr. NnamdiOkafor, at a customers’ forum in Lagos on Thursday, said the …

The Central Bank of Nigeria on Thursday raised the alarm that about $20bn (N3.94tn) was lying idle in different domiciliary accounts of the citizens. The Deputy Governor, Financial System Surveillance, CBN, Dr. Joseph Nnana, stated this during a meeting of …

The Central Bank of Nigeria has moved to give a further boost to its Cashless Nigeria policy introduced about five years ago. The CBN has collaborated with the Nigeria Inter-Bank Settlement Plc to introduce an award programme aimed at motivating …

For United Bank for Africa, a new Group Managing Director emerged on Tuesday. He is Kennedy Uzoka who had been Deputy Managing Director, UBA Group and was also the Chief Executive Officer of UBA Africa, responsible for the Group’s operations …

The President of the Dangote Group, Aliko Dangote, retained his position as Africa’s richest person and was listed as the 51st richest person in the world in the Forbes 2016 World’s Billionaires list released on Tuesday. Dangote’s net worth, according to the …

EFCC, CBN, ministry silent on figures Barely four days after the Economic and Financial Crimes Commission (EFCC) said its anti-graft campaign could recover N1.5 trillion of ‘looted funds’ for the country, there is pressure on the presidency to publish an …

Thousands of bank customers across the country are expected to boycott banking services on Tuesday (today) to express their grievances against alleged “arbitrary, illegal and excessive charges” by the Deposit Money Banks. The Consumer Advocacy Foundation of Nigeria, a non-profit-making …

The continued depreciation of the naira against the world’s major currencies is hitting hard on the Nigerian economy, with the importation and patronage of used vehicles, popularly called Tokunbo, at an all-time low. These are not the best of times …

  The United Kingdom says its ready to repatriate the looted Nigerian funds in the UK banks, the British High Commissioner to Nigeria, Mr. Paul Arkwright has said. Arkwright told the News Agency of Nigeria in Abuja that the UK Government had …

Ecobank Nigeria on Thursday said that the recent reorganisation that affected some senior staff was designed to strengthen the bank’s business across all markets. This is contained in a statement issued by the bank and made available to the News …

The Institute of Chartered Accountants of Nigeria, Western Zonal District, says there is an urgent need for the Federal Government to review the nation’s tax administration system for optimal performance. This was contained in a communiqué issued by the body …

The Federal Government and World Bank have formed a partnership aimed at assisting state governments to grapple with the effects of the financial challenges occasioned by the slump in global crude oil prices. Speaking at the end of a two-day …

The federal government thursday tasked the management of Stallion Group, manufacturers and assemblers of different brands of vehicles on the 17 per cent local content capacity in its assembly plants. The Minister of Science and Technology, Dr. Ogbonnaya Onu, while …