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The African Development Bank, AfDB, says it has approved a 70 million dollar loan for a road project in Ebonyi. The bank said on its website on Friday that it would provide $40 million, while its co-financier, the Africa Growing Together Fund (AGTF), would contribute $30 million for the project.

AfDB invests $50m equity in AFC

The African Development Bank on Wednesday announced a $50m equity investment in African Finance Corporation.
Acting Finance Minister of Finance Zainab Ahmed

Federal government to remove tax exemption on oil companies’ dividends

Dividends paid from the profits of oil companies will no longer be tax-exempt if the finance bill submitted by President Muhammadu Buhari is passed by the national assembly.
Debt Management Office (DMO)

Edo not among ‘commercial borrowing states’ – DMO chief

The Director-General of the Debt Management Office (DMO), Mrs Patience Oniha, has lauded Governor Godwin Obaseki of Edo State for his prudent borrowing habit.
Interswitch

Nigeria’s Interswitch hits $1billion valuation with Visa investment

Nigeria’s digital payments firm Interswitch said Visa has acquired a minority equity stake in the firm, TechCrunch has reported.
Some bankers said they were unaware of the alleged report that Nigerians are being defrauded through Western Union.

Bankers unaware of reports defrauding Nigerians using Western Union

Some bankers said they were unaware of the alleged report that Nigerians are being defrauded through Western Union.

Report: Emerging markets still deprived of fit-for-purpose financial systems

The lack of an efficient and resilient financial system is still holding back inclusive and sustainable growth in emerging markets. Policymakers, regulators and financial services organisations should more actively shape a financial system that is fit for purpose.

Nigerian banks assets, liabilities hit N39.58 trillion

The total assets and liabilities of commercial banks in Nigeria rose from N37.14tn at the end of November 2018 to N39.58tn as of the end of August 2019.

Nigerian banks attract $4.74 billion foreign investments in six months

Data obtained from the National Bureau of statistics showed that the amount of investment attracted by 22 banks accounted for 33.16 per cent of the total amount of foreign investment recorded in the first half of the year, which stood at $14.31bn.
FILE PHOTO - Wads of British Pound Sterling banknotes are stacked in piles at the Money Service Austria company's headquarters in Vienna, Austria, November 16, 2017. REUTERS-Leonhard Foeger

Britain’s credit rating slips to negative

Credit ratings agency Moody’s on Friday downgraded the outlook for Britain’s debt, citing mounting policy challenges amid the Brexit debate.
Good times are underway for Micro, Small and Medium Enterprises (MSMEs) in the country as Jaiz Bank Plc, the premier non-interest bank has secured an N3 billion financing facility from the Bank of Industry (BOI) to boost and develop their operations.

Jaiz Bank to open more branches as management pledges bumper returns to shareholders

Managing Director of Jaiz Bank Plc, Mr Usman Hassan, has assured the bank would continue to target an organic growth strategy that would enable it have presence in all 36 states of the country following its recent national banking license granted it.

House of Reps probe central bank’s $7 billion to banks from foreign reserve

The House of Representatives has begun investigation of the non-refund of $7bn withdrawn from Nigeria’s foreign reserves by the Central Bank of Nigeria in 2006 to pay banks and assets managers, which have since not been refunded.
Good times are underway for Micro, Small and Medium Enterprises (MSMEs) in the country as Jaiz Bank Plc, the premier non-interest bank has secured an N3 billion financing facility from the Bank of Industry (BOI) to boost and develop their operations.

Jaiz Bank transcends religious affiliation – chief

The Managing Director, Jaiz Bank Plc, Mallam Hassan Usman has explained that the workings and offerings of the bank are available to all customers regardless of their religious beliefs and ethnicity.
Umaru Ibrahim Kurfi

NDIC has zero tolerance for corruption – chief

The Nigeria Deposit Insurance Corporation (NDIC) says it has zero tolerance for corruption and all forms of malpractices within the Corporation and in the implementation of its mandate.
Participate in the largest lifestyle event of 2019. Style By Zenith 2.0 promises to be 3 days of fun, bargain price yuletide, shopping, games, masterclasses, music performance by top Nigerian artistes and lots more.

Style By Zenith 2.0

Participate in the largest lifestyle event of 2019. Style By Zenith 2.0 promises to be 3 days of fun, bargain price yuletide, shopping, games, masterclasses, music performance by top Nigerian artistes and lots more.

Nigeria on steady economic growth – central bank chief

The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, said on Monday that Nigeria’s economic outlook remained positives despite the current global uncertainties.

Senate summons central bank chief over exchange rates for infrastructure projects

The Senate Committee on Finance has summoned the Governor of Central Bank of Nigeria, Godwin Emefiele, to appear before it on Monday.

DBN, NSE partner to create capacity for MSMEs

The Development Bank of Nigeria (DBN) has announced that it is partnering with the Nigerian Stock Exchange to explore ways in building capacity and bringing Micro Small and Medium Enterprises (MSMEs) to the floor of the Exchange.

Godwin Emefiele: CBN’s unconventional growth policy paying off

Central Bank of Nigeria Governor, Godwin Emefiele, has said that ensuring price stability and growing the nation’s economy through unconventional policy is paying off.

Recent Stories

Japan’s SoftBank plans to merge internet unit Yahoo Japan with messaging app operator Line to create a $30 billion tech giant, as it bags struggling internet companies to bulk up against rivals like Rakuten.

SoftBank proposes $30 billion merger between Yahoo Japan and Line

Japan’s SoftBank plans to merge internet unit Yahoo Japan with messaging app operator Line to create a $30 billion tech giant, as it bags struggling internet companies to bulk up against rivals like Rakuten.
Prosecutors have called for Quim Torra to be declared ineligible for public office for 20 months, which would make it impossible for him to remain president of the wealthy region.

Catalan president goes on trial for ‘disobedience’

The president of Catalonia’s regional government went on trial in Barcelona on Monday for “disobedience” after refusing to remove separatist symbols from public buildings, amid heightened tensions in the Spanish region.

Federal government should focus more on wellness, less on disease – MWAN chief

The Federal government must change its current focus on the treatment and cure of diseases and, rather, embrace the practice of taking care of the overall wellness of Nigerians if the currently poor health indices of the country are to improve.
The minority leader, Ndudi Elumelu, who stated this yesterday, in a statement by his Special Adviser (Legal) Oyorima Idahosa, dismissed allegations of disloyalty leveled against them by the party leadership.

House of Reps minority leader blasts PDP national chairman over ‘unguarded utterance’

Leader of the Minority Caucus in the House of Representatives, Ndudi Elumelu, has expressed shock over what he described as “unprecedented and unguarded” comments credited to the national chairman of the opposition Peoples Democratic Party (PDP), Prince Uche Secondus via one of his aides.
Super Eagles captain Ahmed Musa says he’s excited staging a return to the national team after missing out recent games due to injury.

Super Eagles captain rates Lesotho’s Crocodiles high despite 4-2 win

Super Eagles captain Ahmed Musa has applauded Lesotho’s Crocodiles despite Nigeria’s 4-2 win in an Africa Cup of Nations qualifying match on Sunday, November 17, at Maseru.