ASSETS & FINANCIALS

Nigeria’s anti-corruption body is set to charge senior officials from the central bank and some commercial lenders following their arrest in connection with an alleged 8 billion naira ($40 million) currency fraud scheme, the agency said on Monday. The Economic …

The Director, Nigeria Incentive-based Risk Sharing System for Agricultural Lending (NIRSAL), Alhaji Aliyu Hameed has disclosed that N54 billion has been spent to support the agricultural value chain in the past four years. ‎Speaking at a zonal sensitisation workshop organised …

Desirous of stimulating financial market liquidity and spur economic growth, the Central Bank of Nigeria’s (CBN’s) monetary policy committee (MPC) on Tuesday  harmonised both the private sector and public sector cash reserve requirements (CRR) at 31 per cent. Previously, while …

The Central Bank of Nigeria (CBN), the Nigeria Inter-Bank Settlement System (NIBSS), including banks, are set for this year’s cashless card exposition and conference, tagged CardExpo 2015. Intermarc Consulting Limited, organisers of the annual CBN CardExpo Africa, said it was …

Nigeria’s real Gross Domestic Product (GDP) growth rate further declined to 3.86 percent in the first quarter of the year (Q1 2015) compared to 5.94 percent the previous quarter, according to the  National Bureau of Statistics (NBS). Also, the Consumer …

A turnover of 2.064 billion shares worth N17.179 billion was recorded in 25,577 deals by investors on the floor of the Nigerian Stock Exchange (NSE) this week. This volume of shares traded was however, lower than 1.919 billion shares valued at …

The Central Bank of Nigeria has raised the sum of N150.60bn ($756.78m) from treasury bills, with mixed yields compared with the previous sale last month. Media reported the central bank as saying on Thursday that the yield on the three-month …

The Central Bank of Nigeria (CBN) has ordered banks to publish lists of individuals and companies with non-performing loans to curb a rise in bad debt as the industry stumbles amid low oil prices. CBN has “observed the rising trend of …

The First City Monument Bank Nigerian (FCMB) Limited has said restrictions in foreign-currency trading are the biggest risk to banks in Africa’s largest economy as they struggle against a slump in oil prices and a weak naira. “What we clearly …

The demand for food in sub-Saharan Africa, including Nigeria, is projected to grow over the next 15 years by about 60 per cent, and 30 per cent in South Asia, a report just released by the World Bank Group has …

The International Monetary Fund (IMF), has advised the federal government to adopt a stringent approach on public spending to ameliorate the adverse effects of plummeting  oil price on the  citizens. Fiscal prudence and removal of all forms of subsidies often …

A World Bank report has revealed that 700 million people became account holders at banks, other financial institutions, or mobile money service providers between 2011 and 2014. The report released yesterday also showed that the number of “unbanked” individuals dropped …

Nigeria’s FBN Holdings will focus on short-term trade financing to make up for slower growth in its loan book forecast to expand by four per cent this year, from 23 per cent last year, its chief executive officer, Mr. Bello …

The Federal Government said it had successfully moved all the capital accounts of its Ministries, Departments and Agencies to the Central Bank of Nigeria. The Minister of Finance, Dr. Ngozi Okonjo-Iweala, who confirmed the development in a statement made available …

The Central Bank of Nigeria, CBN, in collaboration with the International Finance Corporation, IFC will in June 2015 establish a national collateral Registry, NCR to stabilize Micro Small and Medium Enterprise, MSME financing in Nigeria. The establishment of NCR is …

The naira appreciated by seven per cent to 211 against the United States dollar at the parallel market following the victory of the candidate of the All Progressives Congress, Gen. Muhammadu Buhari, in Saturday’s presidential election. The local currency, which …

As the Central Bank of Nigeria (CBN) struggles to meet demand for dollars in the foreign exchange market, its governor, Mr. Godwin Emefiele, has taken the well-worn path of his predecessors by declaring that the currency for transacting business in …

As revenue tightens on account of soft oil prices, Nigeria has now advanced negotiations with both the World Bank and African Development Bank (AfDB) to borrow about $2 billion to enable it implement its N4. 4 trillion 2015 budget. The …

Nigeria’s treasury bill yields fell across the board at an auction on last week, compared with a previous sale on March 4, the central bank said. The CBN said it sold a total of around 167 billion naira ($840 million) of …

Nipco plc has declared a dividend of 375 kobo per share for the financial year ended 31st December, 2014 representing a leap of 25% than the 350 kobo paid to its shareholders a year earlier. Chairman Nipco plc, Chief Bestman …