Money

How 6 commercial banks record N992.4bn operating expenses in 2017

Ihesiulo Grace 3 January 2018 0

No fewer than six commercial banks operating in the country have recorded total sum of N992.4 billion in their Operating Expenses (Opex) in nine months of 2017, represented an increase of N143.5bn or 17per cent from N848.9bn reported in the corresponding period in 2016. The Daily Times checks,

Money

Naira strengthens at official forex market, flat at parallel segment

Ihesiulo Grace 2 January 2018 0

Following the appreciable closing rate of Naira at 306 per dollar on the last trading day in 2017, the Nigeria’s currency on Tuesday, first official foreign exchange trading activities in 2018, extended gaining streak to close at 305.50 per dollar, Central Bank of Nigeria (CBN) data has revealed. As at close of yesterday trading activities, […]

Money

BVN: MFBs’ investments in enrolment machines register 80% customers

Ihesiulo Grace 31 December 2017 0

As Biometric Verification Number (BVN) registration for Microfinance Banks’ customers ends December 31, 2017, not less than 80 per cent depositor of the national licensed MFBs has been registered during the year, former Managing Director, ACCION Microfinance Bank Limited, Bunmi Lawson, has disclosed. Responding in to enquiries over the weekend, she said: “We have to

Money

FG rakes N7.3bn from savings bond in 2017

Ihesiulo Grace 28 December 2017 0

The Nigerian currency, Naira at the official foreign exchange market on Thursday appreciated further against US Dollar to close at N306.05, even as the Federal Government has raised a total sum of N7.3 billion in the past 10 months from its savings bond that was introduced in March 2017 to boost domestic investors’ participation in […]

Money

Ecobank boss lauds Okpekpe Road Race status

Ihesiulo Grace 28 December 2017 0

The Managing Director, Ecobank Nigeria Limited, Charles Kie has commended Pamodzi Sports Marketing, organisers of 10km Okpekpe International Road Race on the recent upgrade of the Road Race to silver Label by International Association of Athletics Federations (IAAF). The bank Managing Director stressed that the elevation does not only lend credence to the standard and […]

Money

300 Adamawa civil servants to benefit Housing loan from FMB

Ihesiulo Grace 19 December 2017 0

About three (300) civil servants in Adamawa State are to benefit from the Federal Mortgage Bank housing scheme loan. Governor Muhammad Umaru Jibrilla, who presented the cheques to some of the beneficiaries at the Murtala Nyako Training Center, Yola, said the effort in line with the policy of this present administration which is aim to […]

Money

Naira steadies across forex markets as I&E window records $109.7m turnover

Ihesiulo Grace 19 December 2017 0

The Nigerian currency, Naira on Monday maintained rate to the US Dollar across the foreign exchange markets, even as the Investors & Exporters FX window recorded total transactions turnover of $109.67 million. The Naira, at the official foex market closed at 306.25 per dollar, the same it traded on Friday, even though it was better […]

Business Money

Inflation slows for 10th consecutive period, eases to 15.90%

Ihesiulo Grace 19 December 2017 0

The Nigeria’s annual inflation has slowed for the 10th consecutive period in November, easing to 15.90 per cent against15.91 per cent recorded in October 2017, the new report by the National Bureau of Statistics (NBS) on Monday has revealed. The new food price index showed inflation at 20.30 per cent in November, compared to 20.31 […]

Money

Access Bank produces first ‘Home Owner’ in family promo

Ihesiulo Grace 15 December 2017 0

The on-going promotional campaign by Access Bank Plc tagged: ‘Family Fortune’ Promo, has produced the first winner of a family home. The family of Celestine Ikwuka Obinabor,currently a tenant and resident of Oka Afa in Ejigbo area of Lagos ,won one of the 3 four-bedroom terrace houses located in highbrow Lekki area of Lagos in […]

Money

Niger proposes N128 bn budget for 2018, as Agric gets lion’s share

Ihesiulo Grace 15 December 2017 0

Governor Abubakar Sani Bello of Niger State, has presented a budget estate of over N128billion for the 2018 fiscal year which is nineteen billion higher than the 2017 approved budget. Presenting the estimates before the State House of Assembly, in Minna, the governor noted that the budget which he christen, the peoples budget was aimed […]

Money

FG to repay N340bn worth of Treasury bills

Ihesiulo Grace 15 December 2017 0

The Federal Government of Nigeria has concluded plans to repay the total sum of N340 billion or $1.1bn worth of treasury bills on Thursday. The government’s move is expected to lower borrowing. The repayment, which included the N131.4bn worth of treasury bills issued by the Debt Management Office (DMO), with the balance in the open […]

Money

Naira slips to 364/$1 at parallel market

Ihesiulo Grace 15 December 2017 0

.As I&E FX window daily turnover drops to $59.7m The Nigerian currency, Naira, suffered a slight blow at the end of Thursday trading activities to close at 364 to the Dollar against 363 recorded on Wednesday, at the parallel market of the official foreign exchange market. Also, the Investors & Exporters FX window daily transactions […]

Money

Access sweeps CBN’s inaugural sustainable banking awards

Ihesiulo Grace 14 December 2017 0

Access Bank Plc has received top honours at the inaugural Nigeria Sustainable Banking Awards convened by the Central Bank of Nigeria (CBN) in recognition of its outstanding success and leadership in Nigeria’s sustainable development. Access Bank emerged the winner across all four categories during the award presentation which took place in Lagos, recently. The categories,

Money

Electronic payment channels transactions hit N19.33trn in Q3- NBS

Ihesiulo Grace 14 December 2017 0

The National Bureau of Statistics (NBS) has disclosed that a total volume of 213,693,964 transactions valued at N19.33 trillion were recorded in third quarter of 2017 data on Electronic Payment Channels in the Nigeria Banking Sector. The NBS report, stated that Nigeria Inter-Bank Settlement System (NIBSS) Instant Payment (NIP) transactions dominated the volume of

Money

Naira steadies at official FX, gains slightly at parallel market

Ihesiulo Grace 14 December 2017 0

.As NAFEX records mid-week turnover of $301.2m The Nigerian currency, Naira, on Wednesday stood steadied at the official foreign exchange market to close at 306.30 the same rate it exchanged the previous day, but gained slightly at the parallel market segment of the forex market. This is just as the Nigerian Autonomous Foreign Exchange (NAFEX) […]

Money

PTAD verifies 6000 pensioners in Abuja

Ihesiulo Grace 13 December 2017 0

The Pension Transitional Arrangement Directorate (PTAD) has concluded the verification of the last set of Civil Service Pensioners under the Defined Benefit Scheme. The exercise, which commenced on Monday across several centres in Abuja, witnessed the verification of 6000 pensioners. It could be recall that the exercise began in 2016; and has seen the verification […]

Money

LSETF boosts MSMEs through technology, innovation

Ihesiulo Grace 13 December 2017 0

As part efforts to boost economy and provides access to finance for Micro, Small and Medium-sized Enterprises (MSMEs) operating in Lagos, the Lagos State Employment Trust Fund (LSETF), has announced a series of programs designed for the benefit of technology- and innovation-driven startups in the State. LSETF, which is a Lagos State Government’s initiative created

Money

Naira gains as FG set to repay N198.03bn worth T- bills

Ihesiulo Grace 13 December 2017 0

The Naira, on Tuesday gained further at both the official foreign exchange market and the Investors & Exporters FX (I&E) window, while the Federal Government of Nigeria has concluded all plans to repay total sum of N198.03 billion or $647million worth of treasury bills maturing in December. As at close of yesterday trading activities, the […]

Money

AFREXIMBANK identifies challenges impeding intra-African trade

Ihesiulo Grace 11 December 2017 0

The Executive Vice President for Business Development and Corporate Banking, African Export-Import Bank (AFREXIMBANK), Amr Kamel, has identified limited knowledge about trade opportunities in African countries constitutes the greatest impediment to the growth of intra-African trade. Kamel, who was contributing to a panel of discussion at the Africa 2017 Forum in Egypt,

Money

Why Access upgrades mobile, Internet banking platforms

Ihesiulo Grace 11 December 2017 0

Access Bank Plc has upgraded its Mobile and Internet banking platforms to provide an Omnichannel experience alongside a range of new and exciting features. The Omnichannel experience simply means customers of the 2017 Karlsruhe Outstanding Business Sustainability Award winner would enjoy a seamless and consistent interaction with the Bank across multiple channels. With