Data released by the Debt Management Office (DMO) has revealed that the World Bank Group controls a total of 62 per cent of Nigeria’s public external debt at end-September this year. Analysis of the data also revealed that the International …
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The Central Bank of Nigeria (CBN) in its resolve to sustain stakeholder confidence in the country’s currency has commenced the education of Nigerians on the incorporated security features of the naira, even as it warned culprits to desist from the …
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The Regional Director of the Manufacturing Partnership for Africa (MPAD) said that the slow growth of the manufacturing sector in Nigeria can be attributed to the shortage of gas supplies to power plants. According to her “there is a large …
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The Central Bank of Nigeria (CBN) circular TED/FEM/FPC/GEN/01/022 dated 6th of November 2014 which excludes finished products, along with four other import categories from accessing foreign exchange at the official exchange (RDAS forex window), is negatively impacting healthcare business, leading …
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PrepayGo Technologies has partnered SIBS International to introduce the SIBS virtual card solution that will help combat ‘Card Not Present Fraud’ in Nigeria. Owing to the importance of the solution in addressing online financial fraud faced by financial institutions globally, …
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The Bank Directors Association of Nigeria (BDAN) has highlighted the need for increased remuneration for their members in view of the role they play in the banking sector. BDAN President, Dr. Sonny Kuku made this call in an address presented …
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The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele has said he will continue to defend the naira after the currency plunged to a record low. “There’s no need for anybody to panic or worry,” Emefiele told Bloomberg. “The …
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The Federal Government, yesterday, said nine states had so far accessed the N220bn Small and Medium-scale Enterprises Fund floated by the Central Bank of Nigeria. The Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, disclosed this to State House …
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Worried by the preference of banks to keep their idle funds of over N300 billion with the Central Bank of Nigeria’s (CBN) Standing Deposit Facility, (SDF), rather than lending to the economy, the apex bank has placed a daily maximum …
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The Asset Management Corporation of Nigeria (AMCON) announced in Abuja, that it had completed the scheduled redemption of its Series five N976,042,060,000 zero-coupon bonds that was due October 2014, at par. In December 2013, AMCON had redeemed its issued Series …
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The contributory pension scheme (CPS) has accumulated a large pool of investible funds of over N4.5 trillion pension assets as at June this year, the Director General, National Pension Commission (PenCom), Mrs. Chinelo Anohu-Amazu stated yesterday. Anohu-Amazu disclosed this in …
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The Head, Financial Inclusion Secretariat at the Central Bank of Nigeria (CBN), Mrs. Akin-Fadeyi Temitope has said the central bank has outlined strategies to achieve 80 per cent financial inclusion by 2020. Temitope, who stated this during a one-day National …
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The Federal Government, on thursday, said it was considering approving N100 billion for the establishment of mini modern ranches across the country. The fund, according to the Committee on Grazing Reserves chaired by the Benue State Governor, Gabriel Suswam, would …
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The effort by the Central Bank of Nigeria (CBN) to prop up the naira months before the 2015 elections is being threatened by the slide in crude oil prices. The naira has come under intense pressure and has tumbled to …
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A Federal High Court in Abuja has been urged to restrain the Central Bank of Nigeria (CBN) from further implementing its reintroduced N65 on cash withdrawal from others’ banks’ ATMs. The new CBN Governor, Godwin Emefiele had on August 13 …
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First City Monument Bank Limited (FCMB) and Dana Motors Limited yesterday launched the auto alliance scheme. Under the scheme, qualified customers would be able to own a brand new KIA for a low as N47, 400 monthly repayment plan. Executive …
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The Federal Government is going beyond its recent $3.5 million lifeline to help Sierra Leone, Liberia and Guinea fight the dreaded Ebola Virus Disease (EVD) as it last week expressed its plan to commit Nigeria’s Trust Fund in the African Development Bank (AfDB) …
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The board of directors of PZ, last week, approved the disbursement of N2,421,990,997.45 dividends for shareholders for the year ending May 31, 2014. Emmanuel Edozien, chairman of the board who declared this at the 66th annual general meeting (AGM) held …
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In order to improve access to finance for micro, small and medium enterprises (MSMEs) in the country, the Central Bank of Nigeria (CBN) has approved the collateral registry regulations. The document signed by the CBN Governor, Mr. Godwin Emefiele, a …
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The World Bank Group has stated that most states across Nigeria have continued to implement regulatory business reforms , with Cross River, Ekiti, Niger, Ogun, and Rivers making the biggest stride. According to the World Bank report on business climate, …
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