Agriculture Banking Business Economy

BIPC to empower women, youths to create wealth, says MD

Ihesiulo Grace 20 September 2019 0

These include the provision of small and medium scale loans through the company’s micro finance bank, agricultural activities as well as an annual talent hunt show in partnership with the Board of Internal Revenue Service (BIRS). Adum, also appealed to the Benue state Governor, Samuel Ortom to

Africa Banking Business World

FG to get $2.5bn loan from World Bank

Ihesiulo Grace 20 September 2019 0

The Federal Government has approached the World Bank for a loan of $2.5billion, World Bank’s Vice President for Africa, Hafez Ghanem revealed. Ghanem explained that the World Bank was in talks with the Nigerian government for the concessionary loan. He, however, noted that Nigeria had received $2.4billion from the global financial institution in 2018. According […]

Banking Business

Debt service obligations gulp N1.11trn in six months – FG

Ihesiulo Grace 18 September 2019 0

Motolani Oseni Not less than a whooping N1.11 trillion has been spent to cover debt service obligations in the first six months of 2019, the latest data from the Federal Ministry of Finance, Budget and National Planning revealed. This was contained in the ministry’s 2020 budget circular released yesterday, stating that the Federal Government aggregate […]

Banking Business Celebrities Entertainment

Customers, Lagosians agog for Zenith Bank’s Aspire Music Festival

Ihesiulo Grace 18 September 2019 0

Temitope Adebayo All is now set for the “Zenith Bank Aspire Music Festival” holding on Saturday at the Harbour Point Event Centre, Victoria Island, Lagos by 5 pm. Dubbed as the most anticipated entertainment event of the year, the breathtaking festival promises to be a night to remember, as it will feature captivating and thrilling […]

Banking Business Economy Money

CBN reschedules September 2019 MPC meeting

Ihesiulo Grace 18 September 2019 0

Temitope Adebayo The Central Bank of Nigeria (CBN) has rescheduled its September 2019 Monetary Policy Committee (MPC) meeting by one week. The Director of Corporate Communications, Isaac Okoroafor disclosed this in a statement released on Tuesday. Okoroafor noted that the meeting earlier scheduled for next week will now hold on Thursday and Friday this week. […]

Africa Banking Business

BFA signs on to Afreximbank’s AFTRAF, gets initial $50m credit

Ihesiulo Grace 18 September 2019 0

Motolani Oseni Banco de Fomento Angola (BFA) has signed on to the African Export-Import Bank (Afreximbank) Trade Facilitation programme (AFTRAF) for an initial $50-million line of credit, becoming the first Angolan bank to sign on to the programme. Afreximbank in a statement signed by its Global Director, Communications and Branding, Obi Emekekwue, on Tuesday, stated […]

Banking Business News

Afreximbank’s 20th Trade Finance seminar, workshop open for registrations

Ihesiulo Grace 17 September 2019 0

Motolani Oseni The African Export-Import Bank (Afreximbank) has announced the opening of registration for its 20th Afreximbank Trade Finance Seminar and Workshop, which will take place in Durban, South Africa, from 4 to 7 November 2019. The Seminar and Workshop series, formerly known as the Structured Trade Finance Seminar and Workshop, is being organized this […]

Banking Business Politics

Equities market indices increase by N142bn in one day

Ihesiulo Grace 13 September 2019 0

Motolani Oseni Again, the equities market of the Nigerian Stock Exchange (NSE) on Thursday reacted positively to the outcome of the election tribunal ruling for the second consecutive day, as market capitalisation rose by N142 billion to close at N13.351 trillion against N13.209 trillion closed the previous day. Similarly, the All Share Index rose by […]

Banking Business Capital Market Capital Market

NSE ready to launch X-Mobile to boost investors participation

Ihesiulo Grace 11 September 2019 0

Temitope Adebayo The Nigerian Stock Exchange (The NSE or The Exchange) is set to launch X-Mobile, a dynamic and the user-friendly mobile app, to enhance investors’ participation in the Nigerian capital market. The NSE mobile app which is currently in its Beta state will be launched at the 2019 NSE Market Data Workshop taking place […]

Banking Business TV

The Next Titan Season-6: Heritage Bank restates continuous support for entrepreneurship among youths

Ihesiulo Grace 11 September 2019 0

Temitope Adebayo Heritage Bank Plc has again thrown its usual support behind the organizer of The Next Titan, so as to have a better and improved season six of the programme. This year’s edition of the reality TV show is again headlined by Heritage Bank and is targeted at giving young entrepreneurs an opportunity to […]

Banking Business Economy

CBN reviews e-payments regulation for public, private sectors

Ihesiulo Grace 11 September 2019 0

…Lifts forex market with $210m FX injection Motolani Oseni The Central Bank of Nigeria (CBN) on Tuesday released regulation for electronic payments and collections for public and private sectors in the country. This is just as the apex bank boosted the interbank segment of the Foreign Exchange Market with an injection of $210 million. The […]

Banking Business

CBN orders banks to remove interest rate, CAP on goods and services

Ihesiulo Grace 10 September 2019 0

Philip Clement – Abuja The Central Bank of Nigeria has directed all financial institutions and mortgage banks to eliminate interest rate and lending fees on goods and services rendered to customers. In a circular signed by the Director, Financial Policy and Regulations of the bank, Kelvin N. Amugo, the apex bank said the decision was […]

Banking Insurance News

NAICOM grants operational approval to two new insurance firms

Ihesiulo Grace 10 September 2019 0

Motolani Oseni The National Insurance Commission (NAICOM) has granted approval in principle (AIP) to Cornerstone Takaful Insurance Company Ltd and Salam Takaful Insurance Company Ltd. This was contained in a statement issued by the Head, Corporate Affairs of the Commission, Rasaaq Salami, stating that the companies will operate as composite Takaful operators to transact

Banking Business

Annual banking confab critical to building sustainable financial system – CIBN

Ihesiulo Grace 4 September 2019 0

Temitope Adebayo The Chartered Institute of Bankers of Nigeria (CIBN) has said that it set to hold the 12th Annual Banking and Finance Conference at the Transcorp Hilton Hotel, Abuja on September 24-25, 2019, to brainstorm on strategic issues that are critical to building a sound and sustainable financial system and economy. The President/Chairman of […]

Banking Business Capital Market Capital Market

Entrepreneurs lament impact of insecurity on investments

Ihesiulo Grace 3 September 2019 0

Jide Oke – Osogbo Small and Medium Scale entrepreneurs operating in Nigeria have warned that the security situation in the country has reached a global and disturbing dimension with implications on the investment environment, saying that there exists a declining investors’ confidence across the broad spectrum of domestic and foreign prospective investors in the

Banking Business Capital Market Capital Market

NSE records N19bn gain on first trading day in September

Ihesiulo Grace 3 September 2019 0

Motolani Oseni The equities market segment of the Nigerian Stock Exchange (NSE) commenced trading in September on positive note with a marginal growth of 0.14 per cent, which translated to investors’ gain of N19 billion. Specifically, the All Share Index (ASI) rose by 39.28 points or 0.14 per cent to 27,565.09 points. Accordingly, investors gained […]

Banking Business Money Money

Naira gains as CBN’s interventions hit $13bn in 1yr

Ihesiulo Grace 3 September 2019 0

Temitope Adebayo The Nigeria’s local currency, Naira, at the Investors and Exporters (I&E) FX window has appreciated by 0.06 per cent to close at N362.73 to the US Dolar, even as the volume of the Central Bank of Nigeria’s (CBN’s) interventions in the retail secondary market intervention sales (SMIS) hit the sum of $13 billion […]

Banking Business Capital Market Capital Market

SEC urges shareholders of defunct Afribank to claim their dividends

Ihesiulo Grace 3 September 2019 0

Motolani Oseni The Securities and Exchange Commission (SEC) has asked shareholders of the defunct Afribank Plc to claim their dividends. SEC said this is part of its investor protection programme. It said it was also to ensure that shareholders get the benefits of investing in the capital market. Mary Uduk, the commission’s acting DG, said, […]

Africa Banking Business

We’re investing $25bn to make agribusiness Africa’s biggest industry -AfDB

Ihesiulo Grace 30 August 2019 0

…Trade within AfCFTA worth $3.3trn – Adesina Philip Clement – Abuja The African Development Bank (AfDB) says it is currently investing $25 billion to help make agriculture and agribusiness Africa’s biggest industry. The AfDB, also, disclosed that the size of trade within the African Continental Free Trade Area (AfCFTA) is worth 3.3 trillion dollars. The

Banking Business News

TrustBond, First Mortgages merge to become largest PMB

Ihesiulo Grace 30 August 2019 0

Temitope Adebayo TrustBond Mortgage Bank Plc and First Mortgages Limited have just concluded a merger scheme that will see the combined entity emerge as the largest primary mortgage bank (PMB) in Nigeria. Their emergence was sequel to their Court-Ordered Meeting contemporaneously held by the two mortgage banks on Wednesday, in Lagos. In the Scheme of […]