Finance

The Board of Directors of Polaris Bank Ltd and Asset Management Corporation of Nigeria has appointed Mr Segun Opeke as an Executive Director.

The directive by the Nigerian government for account holders in financial institutions to complete a new “self-certification” form is not for all bank customers, the Federal Inland Revenue Service (FIRS) and tax experts have clarified.

The federal government on Friday apologized to Nigerians for asking all account holders in the financial institutions to re-register.

According to Ray Youssef, CEO, and co-founder of Paxful, “The #BuiltWithBitcoin initiative now supports over 400 students.” He highlights that through the 100-school plan, Paxful expects to bring education to nearly 15,000 young people throughout Africa while providing jobs to almost 300 teachers.

Accountancy giant Deloitte failed to properly audit the accounts of software giant Autonomy ahead of its 11 billion-dollar sale to Hewlett Packard almost a decade ago, the accounting regulator has found.

Open Banking Excellence (OBE), Moneyhub Enterprise, and Streeva launch QR code-based open banking payments with automated Gift Aid today, providing people in the UK with another way to donate to charity.

China’s central bank on Thursday continued to pump cash into the banking system via reverse repos, to maintain liquidity.

The International Monetary Fund (IMF) on Wednesday said it would disburse 1 billion dollars to Angola to address the impact of the coronavirus pandemic.

The Central Bank of Nigeria (CBN) has announced N200 billion mortgage finance loan to Family Homes Fund (FHF).

A financial expert, Mr Okechukwu Unegbu, has urged the Central Bank of Nigeria (CBN) to increase support for commercial banks to address the impact of the COVID-19 pandemic on the sector.

Nigeria’s highest external debt stock to a multilateral or bilateral financial institution is its $10.46bn (N3.965tn at the official rate of N379/$) indebtedness to the World Bank Group, latest figures from the Debt Management Office have shown.

Nigerian President Muhammadu Buhari on Thursday directed the central bank to stop issuing foreign exchange for food and fertiliser imports, according to a statement by his spokesman.

The African Development Bank’s board of directors has approved the sum of $27.33m in grants to boost the African Union’s efforts to mobilise a continental response to the COVID-19 pandemic.

Coronavirus-related bad debts have set South African banks’ profits back by around a decade or more and they are unlikely to recover for at least three years, two top executives told Reuters, as the economy struggles with recession.

Uganda’s central bank has introduced a new lending window for commercial banks that might encounter short-term liquidity challenges, it said on Tuesday, unveiling another tool to complement its main monetary policy instrument.

The banks: Eco, Zenith and Fidelity; are among six banks in Ghana that initiated services to allow the public pay for goods and services through the universal Ghana Quick Response (Gh QR) code. The Ghana banks are GCB Bank, Bank of Africa, and the Agriculture Development Bank.

According to the Principal Lead MasterCard Advisors for Sub-Saharan Africa, Bola Asiru, “POS transaction volume along with mobile transactions (Interscheme) value, reached four years high with N416 billion and N275 billion transactions in July respectively.

After taking a critical look at security challenges ravaging the country, a professional economist, Dr Felix Amieye-Ofori, has suggested that economic development will continue to elude Nigeria if the situation is not urgently addressed.