The Bank of Industry (BoI) has said it recorded a profit after tax of N35.54 billion for the financial year ended Dec. 31, 2020, as its total assets hit N1.86 trillion.
The Central Bank of Nigeria (CBN) has mandated all development finance institutions (DFIs), microfinance banks (MFBs), primary mortgage banks (PMBs) and finance companies (FCs) operating in the country to enrol on its credit risk management system (CRMS).
Analysts have expressed concerns over a recent claim that the federal government resorted to printing money to augment the monthly allocation to the three tiers of government, warning that it could heighten inflationary pressure with dire consequences for the country’s exchange rate and economy.
The Nigeria Interbank Settlement System (NIBSS) has issued approved standard operating guidelines for the Bank Verification Number (BVN) matching system, mainly for a harmonised way of verifying customer’s identity.
A total of 44 companies quoted on the Nigerian Stock Exchange, NSE, may face sanctions from the Exchange for failing the timeline in rendition of 2020 audited financial results.
PanAfrican Capital Holdings Limited, PACN, has stated that recent media reports to the effect that liquidity crisis had hit one of the nation’s oldest banks, Wema Bank did not in any way represent its position or from them.
ActionAid, stakeholders express worry over unstable levels of borrowing, rising national debt profile
A non-profit making organisation, ActionAid Nigeria, AAN, and stakeholders, Friday, expressed worry over unstable levels of borrowings and rising national debt profile under the Buhari-led administration and poverty increasing daily.
African nations aim to double funding for climate change adaptation projects to $25 billion over five years as they look to foster a green recovery from the economic damage wrought by the coronavirus pandemic.
The Central Bank of Nigeria (CBN) has secured the orders of the Federal High Court, Abuja to freeze 193 corporate and individual bank accounts, pending the outcome of investigations into allegations of foreign exchange (FX) infractions against holders of the accounts.
Speaking at the fair with the theme: Promoting Financial Stability and Economic Development at Sultan Maccido Quranic institute, Sokoto, the CBN Governor Mr Godwin Emefiele said this was to enlighten the general public about the products and interventions of the bank to grow the nation’s economy.
Eleven bank accounts of some companies and an individual were on Wednesday frozen by the Central Bank of Nigeria (CBN).
The International Monetary Fund (IMF) says it will propose a $650 billion special drawing rights (SDR) to boost international reserves of its member countries.
The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending has debunked reports that the Central Bank of Nigeria has suspended further disbursements to the agency over allegations of corruption in its handling of the Federal Government’s Anchor Borrower’s Programme.
Canada’s top banks are shedding workers for the second straight year, moving toward leaner operations to satisfy investors demanding returns on tens of billions of dollars that lenders have poured into new technologies
Debt experts, charity groups and investors welcomed news on Wednesday that the world’s poorest countries will get new IMF funds and COVID-19 debt relief, but they also cautioned that for some it would still only be a band-aid solution.
The International Monetary Fund (IMF) has urged countries in Sub-Saharan Africa to do more domestically to increase tax revenues and improve the quality of spending.
The Accountant-General of the Federation, Ahmed Idris, on Wednesday charged the Financial Reporting Council of Nigeria to enforce the acceptable financial management and reporting standards in ministries, departments and agencies of government.
Against the backdrop of a pandemic impacted global and national economies, the International Monetary Fund (IMF) and World Bank have urged fiscal authorities to execute flexible and supportive fiscal policies to support economic recovery and cushion the long-term impact of the pandemic.
Finance ministers of G-20 countries have approved an extension of debt relief for the world’s poorest nations till December 2021.
Microfinance banks in Nigeria will not be able to meet up with recapitalisation requirement of the Central Bank of Nigeria, within the proposed time, because of the effect of the coronavirus pandemic on the economy, an official has said.
Kingsley Moghalu, former presidential candidate of the Young Progressives Party (YPP), says terrorists and kidnappers are now demanding ransom in cryptocurrency.
Senate President, Ahmed Lawan, and the governor of Lagos State, Babajide Sanwo-Olu, were on Wednesday in Abuja presented with the Honourary Fellowship Award of the Nigerian Institution of Surveyors (NIS) alongside a former Minister of Defence, Brig-General Mansur Dan-Ali (rtd) and the Emir of Nasarawa, HRH Alh. Ibrahim Usman Jibril, at the institution’s 2021 investiture ceremony.
Academic Staff from public institutions across the country have so far accessed over N120 billion for training, within and outside Nigeria, from the Tertiary Education Trust Fund (TETFund) since its inception in 2008.
The Gombe State Government has approved the sum of N1.499 billion for the supply and installation of biometric attendance system to check payroll fraud in the state’s civil service.
The national caretaker/extraordinary convention planning committee (CECPC) of the ruling All Progressives Congress (APC) has disowned a zoning arrangement list in circulation on the social media.
Rome’s Stadio Olimpico has been “fully confirmed” as a venue for Euro 2020 matches after the Italian government guaranteed the presence of at least 25 per cent of fans, UEFA announced on Wednesday.
Participants in the Federal Government’s Special Public Works programme have complained about the non-payment of their stipends three months after the initiative took off.
Director General of the centre, Mrs. Mary Ekpere-Eta who said this in Abuja during the official launch of the Nigerian women for Liquefied Petroleum Gas project, said this was in a bid to improve women’s livelihoods, survival, clean environment, as well as pulling millions of households out of poverty.
Amidst rising tension across the country, the Peoples Democratic Party (PDP) Governors Forum, yesterday, said an urgent devolution of power and restructuring of the polity has become imperative, as the country cannot afford another civil war.
Ondo state boxer, Adedeji Adegbola, on Friday, knocked out his opponent, Oluwafemi Adetoye of Yobe state, in a record 15 seconds of their first round heavyweight boxing bout at the ongoing National Sports Festival in Benin.
A group known as Shangev-Tiev Assembly (STA) has condemned the military invasion of parts of Konshisha Local Government Area of Benue State in which many lives have allegedly been lost and several property destroyed.