Business

CBN lays out rescue plan to end oil palm importation

Ihesiulo Grace 19 March 2019

…Bemoans loss of $10bn Forex earnings from Oil Palm value chain Mathew Dadiya- Abuja The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, on Monday, laid out another rescue plan for oil palm production, and ended the importation of the product into the country. This is even as

Business

Post-Christmas expenditure, others to dip January inflation to 11.35% -Analysts

Ihesiulo Grace 8 February 2019 0

…As liquidity mop-up pushes OMO sales to N2.38trn Motolani Oseni A group of analysts at Financial Derivatives Company (FDC) have projected that Nigeria’s headline inflation is expected to slide to 11.35per cent in January from 11.44per cent stood in the preceding month. The National Bureau of Statistics (NBS) had disclosed that the inflation rate of […]

News Technology Telecoms Top Stories

FG to ban use of SMS to send customers’ bank details

Ihesiulo Grace 16 October 2017 0

* As NCC boss accuses banks of conniving with fraudsters * Says banks under-reporting fraud cases for fear of desertion by customers * ‘Non-disclosure of fraud cases militating against cybersecurity’ Tony Nwakaegho, Lagos The sending of vital bank details via short message services (SMS) may soon be banned in Nigeria because of its associated risks. […]

Business Economy

Nigeria was faced with depression, says ex-CBN Director

Ihesiulo Grace 6 September 2017 0

Titus Okunronmu, a former Director, Budgetary Department, Central Bank of Nigeria (CBN), said on Wednesday that Nigeria’s economy had been experiencing depression rather than recession since 2015. According to NAN, Okunronmu, while responding to questions concerning the country’s economy in Ota, Ogun state, said that a recession could only last for a quarter or two,

News

SystemSpecs Lauds CBN Cashless Policy Success

Ihesiulo Grace 8 April 2015 0

Managing Director/Chief Executive Officer, SystemSpecs Company Limited, Mr John Obaro has lauded the Central Bank (CBN) Cashless policy initiative for achieving some feats despite the infrastructural challenges confronting it. Obaro made this remark while speaking to journalists in an interview, stressing that some of the challenges facing the cash policy drive remained

Banking

CBN Issues Conditions for Bancassurance Operations

Ihesiulo Grace 2 April 2015 0

Central Bank of Nigeria (CBN), has issued a new set of guidelines for banks providing bancassurance, mandating them to conduct thorough due diligence/ periodic assessment on selection of insurance partners, which must hold valid operational license from National Insurance Commission (NAICOM). The directive in a circular to banks and signed by Director of Banking

News

Crisis looms in Enugu Assembly over approval of N11bn secret loan

Ihesiulo Grace 23 March 2015 0

Tension is heightening in Enugu State, following an allegation that some members of the House of Assembly have secretly conceded to the fresh request by the outgoing government of Sullivan Chime to obtain N11 billion loan from a first generation bank purportedly for payment of debts owed to some government contractors. Concerned Citizens of Enugu […]

Business

Duke Seeks Coop Loans for Young Entrepreneurs

Ihesiulo Grace 17 March 2015 0

The Minister of Culture and Tourism and the Supervising Minister of Information, Chief Edem Duke , has appealed to the over 500,000 registered cooperative societies in Nigeria to give loans to young people for small and medium enterprises in order to check unemployment. He made the appeal when members of the National Association of Cooperative […]