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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.

Nigeria partners AfDB for special agro-industrial processing zones

The African Development Bank, AfDB, in collaboration with the government of Nigeria, has held a meeting with stakeholders to discuss details around Special Agro-Industrial Processing Zones in Nigeria.

CBN: No ban on domiciliary accounts deposits

The Central Bank of Nigeria has said that it has not prohibited the acceptance of foreign currency cash deposits by Deposit Money Banks.
The Nigeria Governors’ Forum (NGF) and the Federal Government have commenced a Human Capital Development (HCD) plan towards moving 24 million Nigerians out of poverty before 2030.

Governors upset by excess crude account depletion

Governors are worried about the depletion of the Excess Crude Account (ECA) and the resurgence of insecurity especially the upsurge of Boko Haram attacks, it was learnt at the weekend.

Zenith Bank to pay N2.80k as final dividend for 2019

Zenith Bank Plc has announced that it will pay a final dividend of N2.50 for every 50 kobo shares, thereby bringing the total dividend paid for FY 2019 to N2.80.

Excess liquidity to persist as N1.7 trillion inflow hit interbank market

The surfeit of excess liquidity in the interbank money market will persist this week courtesy of inflow of about N1.7 trillion.

Nigeria liquidates 425 banks in 32 years

Since incorporation in 1988, the Nigeria Deposit Insurance Corporation has carried out liquidation activities on 425 financial institutions in the country.

Forex: Central bank injects $292.34 million, CNY 22.8 million into Retail SMIS

The Central Bank of Nigeria (CBN) on Friday, February 21, 2020, continued its intervention in the inter-bank foreign exchange market by injecting the sum of $292.34million into the retail Secondary Market Intervention Sales (SMIS).

Central bank recovers N60 billion excessive charges imposed on customers by erring banks

This is just as the apex bank has announced that it has commenced the process of creating 10 million jobs in the next five years through investment support in agriculture, using 10 commodity models.
Governor Babajide Sanwo-Olu stated this during a courtesy visit to Lagos House, Ikeja by the Executive Chairman, Federal Inland Revenue Service, (FIRS) Mr. Muhammad Nami.

FIRS seeks Lagos support to hit N8.5 trillion revenue target

The Federal Inland Revenue Service, FIRS, is seeking the cooperation of the Lagos Inland Revenue Service, LIRS, to realise its N8.5 trillion revenue target to fund the 2020 budget.
Dollar

Dollar dominates as investors dump yen, Asia currencies on coronavirus spread

The yen was headed for its worst week in two-and-a-half years on Friday, as worries about the coronavirus’ spread in South Korea, Japan and Beijing drove funds from Asia to the towering U.S. dollar.
Debt Management Office (DMO)

Investors stake N458.2 billion for N140 billion FGN Bond

The appetite of investors to take up Federal Government Bond has remained unabated, as they staked a total of N458.2 billion for the N140 billion bond put on offer by the Debt Management Office (DMO), yesterday.
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 earmarks $500 million for four agro zones in Nigeria

The African Development Bank (AfDB), has earmarked $500 million loan for the development of four agro-industrial zones across the country.

World Bank: 12 states miss out of N1.37 billion fiscal transparency grant

The World Bank on Tuesday said 12 states missed out of its $4.5 million (N1.37 billion) State Fiscal Transparency, Accountability and Sustainability (SFTAS) Programme for Results 2018 grant for not meeting the eligibility criteria.

HSBC to cut 35,000 jobs in next three years

Banking giant Hongkong and Shanghai Banking corporation (HSBC), says it plans to cut some 35,000 jobs worldwide in the next three years as it restructures and increases its focus on Asia.

MAN: Central bank’s forex intervention dampens backward integration

The Manufacturers Association of Nigeria (MAN) has linked the low utilization of local raw materials in the manufacturing sector to policy intervention in the official foreign exchange (forex) market by Central Bank of Nigeria (CBN).
The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr Muhammad Nami, has launched a national tour of the six geo-political zones to sensitise the nation, especially taxpayers, on the 2019 Finance Act.

Nigeria: FIRS sole collector of stamp duty

The federal government has finally put to bed the controversy over who will collect stamp duty has finally been rested.

Contempt: Wema Bank chief, six others must appear Tuesday – court

There is no reprieve yet for the Wema Bank Plc and its seven officials cited for contempt, as a Federal High Court sitting in Lagos, reinforced its order compelling the said official to appear before the court on Tuesday to explain why committal to prison order should not be made against them.
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 declares N1.79 billion profit

Jaiz Bank Plc, Nigeria’s premier non-interest Sharia-compliant financial institution, has declared a profit after tax of N1.79 billion in its 2019 unaudited financial results as submitted to the Nigerian Stock Exchange (NSE).

Recent Stories

Japan’s Prime Minister Shinzo Abe delivers a speech to demand the return of the Northern Territories, a group of islands held by Russia, at a national rally in Tokyo on February 7, 2019. – Called the Kurils by Russia and the Northern Territories by Japan, the string of volcanic islands are at the heart of a feud between the two countries has prevented Russia and Japan from signing a formal World War II peace treaty. (Photo by Kazuhiro NOGI / AFP)

Japan premier calls for nationwide closure of schools over coronavirus

Japan’s Prime Minister Shinzo Abe on Thursday urged schools nationwide to close for several weeks to prevent the spread of the new coronavirus, as authorities reported the country’s fourth death linked to the outbreak.
All Progressives Congress (APC) Nigeria

Protesters clash at APC secretariat

Newsmen learnt that the protesters, who had also gathered to protest against the APC National Chairman, Adams Oshiomhole, on Tuesday, turned on one another as they matched towards the secretariat.
Dr Janet Ekpeyong, Director-General, Cross River State Primary Health Care Development Agency (CRSPHCDA) has advised parents to ensure their children are fully immunised against measles following the high temperature currently being experienced.

Heat: Cross River, stakeholders proffer solutions, task parents

Dr Janet Ekpeyong, Director-General, Cross River State Primary Health Care Development Agency (CRSPHCDA) has advised parents to ensure their children are fully immunised against measles following the high temperature currently being experienced.
Manchester City’s Spanish manager Pep Guardiola gestures during the UEFA Champions League round of 16 first-leg football match between Real Madrid CF and Manchester City at the Santiago Bernabeu stadium in Madrid on February 26, 2020. (AFP)

Pep Guardiola warns Manchester City after Real Madrid win

Pep Guardiola warned his Manchester City players that Real Madrid is more than capable of a Champions League fightback after a historic 2-1 last 16, first-leg win for the English champions at the Santiago Bernabeu.
The Alaafin of Oyo, Oba Lamidi Olayiwola Adeyemi III, has broken his silence over the heated reactions generated by his statement over the Mayegun title he conferred on the fuji musician, Alhaji Wasiu Ayinde, stating that the context through which he made the statement should be understood.

Alaafin: No incantation, climbing of prayer mountains can curb cancer

The Alaafin of Oyo, Oba Olayiwola Adeyemi III, says no amount of spiritual incantation or use of concoctions can curb cancer.