Business

Buhari orders CBN, others to provide stimulus packages for SMEs

Ihesiulo Grace 28 April 2020 0

.Commends insurance sector for N11bn cover for 5,000 health workers In recognition of  the critical role that the Small and Medium Scale Enterprises (SMEs) play in Nigeria’s economy, President Muhammadu Buhari on Monday directed the Central Bank of Nigeria (CBN) and other financial institutions

News

SEC announces regulatory framework for crowdfunding, proposes N70m limit for SMEs

Ihesiulo Grace 30 March 2020 0

The Securities and Exchange Commission Nigeria (SEC), at the weekend announced a detailed draft of its regulatory framework for crowdfunding in the country. The draft, if eventually approved, proposes conditions under which private companies are permitted, “with the required structure and mechanism in place” to raise capital from the public through a process called

Business

FirstBank boost support for SMEs

Ihesiulo Grace 14 December 2019 0

The Small and Medium Scale Enterprises (SME) sector is, no doubt, strategic and essential to accelerating economic growth and development of countries around the world, particularly Nigeria. The sector is largely considered the backbone of many developed economies as well as an important contributor to employment, economic and export growth. A survey conducted by PWC […]

Editorial

World Bank rating and EODB in 5 states, FCT

Ihesiulo Grace 22 October 2018 0

Nigeria’s ranking on Ease of Doing Business (EODB) has received a boost as the World Bank on Thursday announced that five states in the country- Lagos, Kaduna, Abia, Enugu, Anambra and the Federal Capital Territory (FCT) – are making stride to improve the ease of doing business for domestic small and medium enterprises (SMES). The […]

Business Top Stories

Heritage Bank wins three prestigious awards in Agric, SMEs

Ihesiulo Grace 24 September 2018 0

Heritage Bank Plc, ­­­­­­­­Nigeria’s Most Innovative Banking Service provider, has been adjudged “Best SMEs Bank Nigeria 2018” by Capital Finance International (CFI.co) and “Agriculture Bank of the Year 2018” by the Nigeria Agriculture Awards (MAA). Also, the bank was awarded the Best CIBN Chapter of the Year 2018. The best chapter in terms of members […]

Business News

Diamond Bank disburses ₦1bn under cash flow-based SME lending scheme

Ihesiulo Grace 20 August 2018 0

Leading retail bank, Diamond Bank Plc, has again reiterated its support for Small and Medium-Scale Enterprises (SMEs) as the Bank announced its disbursement of over N1 billion under the cash flow-based SME lending scheme. Launched in January 2017 in partnership with the Women’s World Banking (WWB), the scheme features the Cash Flow-based MSME Lending Methodology, […]

Business News

Red Star plans logistics support for SMEs

Ihesiulo Grace 15 June 2018 0

Nigeria’s foremost Logistics Solutions Provider, Red Star Express Plc, is set to boost Small and Medium Enterprises (SMEs) in 2018. The company is looking to achieve this by offering logistics support that are specifically tailored for the small businesses. Recently, the company sponsored and participated in Trade Fairs and Exhibitions which includes MSME Trade Fair […]

Business

CBN pumps $210m to forex market

Ihesiulo Grace 9 May 2018 0

The Central Bank of Nigeria (CBN) has pumped $210 into the market to boost the inter-bank Foreign Exchange. The Bank again on Tuesday offered the sum of $100 million to authorized dealers in the wholesale segment of the market. The Small and Medium Scale Enterprises (SMEs) segment received the sum of $55 million while the […]

Politics

OGUN 2019: Tella promises 6,000 jobs, 1000 millionaires in 1000 days

Ihesiulo Grace 28 October 2017 0

….Says ‘I’ll eradicate hunger and poverty in Ogun’ A governorship aspirant on the platform of the All Progressives Congress (APC), In Ogun State, Omo Oba Aderibigbe Adeleke Tella, has promised to create 6,000 jobs in the agro allied sector within his first 100 days in office if voted into power. Addressing a mammoth crowd made […]

Capital Market

‘37m SMEs can revamp economy’

Ihesiulo Grace 27 September 2017 0

….As NSE, Ciuci celebrate 10 successful SMEs Nigerian Small and Medium Scale Enterprise (SMEs) have the potential to lift the nation’s economy as conglomerates of tomorrow spread across the globe from their point of listing on The Nigerian Stock Exchange (NSE). This was disclosed Tuesday, in Lagos during the 10th year anniversary celebration of the […]

Banking

Digital banking, SMEs push Fidelity Bank’s profit by 22%

Ihesiulo Grace 30 August 2017 0

The management of Fidelity Bank says the 22% profit it recorded in the first half of 2017 can be attributed to deepening market share in the small and medium enterprises (SMEs), retail and digital banking spaces. According to a statement signed by Ejike Ndiulo, head, corporate communications of the bank, gross earnings rose from N70.3billion […]

Editorial

Funding for Small and Medium Enterprises (SMEs)

Ihesiulo Grace 4 December 2016 0

Recently, the Nigerian-British Chamber of Commerce (NBCC) called on the Federal Government to adequately fund small businesses in order to achieve price stability and increase aggregate output in the Nigerian economy. According to the chamber, the Federal Government should develop policies that will enhance accessibility of funds to these enterprises in order to leapfrog