Finance

NDIC charges bankers on financial literacy, consumer protection

The Nigeria Deposit Insurance Corporation (NDIC) has called on bankers in the country to pay more attention on financial literacy and consumer protection issues.

Only one per cent Kano farmers return central bank loan – AFAN

The All Farmers Association of Nigeria, AFAN, in Kano State has expressed concern over the refusal of most of its members to repay their Anchor Borrowers loans.

Naira closes at N362 as central bank injects $547m in one week

In anticipation of Sallah holiday, the Central Bank of Nigeria on Thursday raised the total intervention for the week to 547 million dollars as against 195 million dollars offered the previous week.

Sallah: Kuje residents demand more commercial banks

Residents of Kuje Area Council, FCT, on Thursday called for the establishment of more commercial banks to reduce the difficulty faced by customers, especially at month end.

Fidelity Bank grows profit after tax by 66% to N9bn in 6 months

Shareholders of Fidelity Bank Plc should expect a bounteous harvest at the end of the current year given its impressive performance for the half year (H1) ended June 30, 2017.

Germany’s Allianz buys Nigerian insurer for $35m

Germany’s Allianz plans to pay $35 million for 98 per cent stake in Nigerian insurer, Ensure Insurance, in a push for growth in Africa, where many people are uninsured.

How new innovations challenge banking – NDIC chief

Managing director and Chief executive officer of Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim, says the banking environment is witnessing rapid changes, which are a challenge to bankers in the performance of their job.

Access Bank takes impairment on 9mobile loan

Nigeria's Access Bank said on Wednesday it had booked a 4 billion naira ($13 million) impairment on its loan to troubled telecoms firm 9mobile, formerly known as Etisalat Nigeria.

Warren Buffett becomes top shareholder in Bank of America

American billionaire Warren Buffett's Berkshire Hathaway group has officially become the top shareholder in Bank of America after exercising its right to buy 700 million shares at a discount.

Fed govt withdrew N359.39bn from ECA for fuel subsidy – FRC

The Federal Government withdrew the sum of N359.39bn from the Excess Crude Account in 2015 to fund the payment of petroleum products subsidy in 2015, the Fiscal Responsibility Commission has said.

Central bank injects fresh $250m into Forex market

The Central Bank of Nigeria, CBN, has again intervened in the Inter-Bank Foreign Exchange Market to the tune of 250 million dollars.

Naira maintains N367 the the dollar at parallel market

The Nigerian currency maintained its Friday rate, while the Pound Sterling and the Euro traded at N478 and N433 respectively.

Nigeria trains Ghana on deposit Insurance

The Nigeria Deposit Insurance Corporation (NDIC) is organising a five-day capacity building programme for senior officials of Ghana Deposit Protection Corporation (GDPC).

Naira devaluation is a risk to Nigeria’s external debt – PwC

PricewaterhouseCoopers, one of the big four consulting firms in the world, says a devaluation of the Nigerian naira will be a key risk to the sustainability of the country’s foreign debt.

Central bank pumps $9.96bn into FX market in 6 months

The Central Bank of Nigeria (CBN) has injected $9.964 billion into the interbank segment of the foreign exchange (forex) market since it commenced its aggressive interventions in February this year.

How Nigerians can access housing finance, pay within 25 years – CBN

The Central Bank of Nigeria (CBN) is spearheading a new scheme targeted at providing improved access to housing finance to aspiring homeowners.

N13bn fraud: Heritage Bank admits being investigated by EFCC, clears MD

The management of Heritage Bank has refuted report of an alleged N13billion fraud involving the Managing Director and other staff members of the bank of funds belonging to the Oyo State government.

House c’ttee alleges threat to BoI over N8bn bad debts

The House of Representatives Committee on Public Accounts yesterday grilled the Managing Director of Bank of Industry (BoI), Mr. Olukayode Pitan, over N8 billion unrecovered loan advance to customers.

Recent Stories

Former Green Eagles goalkeeper, Emmanuel Okalla, has commended Youth and Sports Development Minister Mr Sunday Dare for his commitment to the welfare of Ex-players and athletes.

Minister leads sports icons coronavirus awareness campaign

As part of efforts to stem the spread of the covid-19 scourge, Youth and Sports Development Minister Mr Sunday Dare has teamed up with some Nigerian sports icons and the Nigerian Olympic committee on a massive awareness campaign to educate people on keeping safe.
Five Italian Serie-A weekend matches including Sunday’s clash between Juventus and Inter Milan have been postponed due to the novel Coronavirus, the Italian football league said Saturday.

Coronavirus pause could force global football to change

Football has ground to a halt due to the coronavirus pandemic, and the immediate concern is the simple survival of many clubs because of the financial impact, but there is hope that the global game could ultimately emerge better from this crisis.
Recall that President Muhammadu Buhari in a nationwide broadcast on Sunday ordered a total lockdown in Abuja, Lagos and Ogun State as a proactive measure to contain the spread of the deadly novel coronavirus in Nigeria.

Experts: Coronavirus a threat to food security

Prof. Veronica Obatolu, the Executive Director, Institute of Agricultural Research and Training (IAR&T), Ibadan, says Covid-19 remains a threat to food security due to the negative effects on production and research.
Italian Prime Minister Giuseppe Conte said Wednesday he will ask the European Commission to give Italy’s poorer south a special status to help boost employment and tackle organised crime.

Italy’s coronavirus death count still high as lockdown extended to April 13

Italy’s record death toll from the novel coronavirus grew by more than 700 on Wednesday, as a top official said that social restrictions were getting harder to bear for the population.
Elon Musk is calling for regulation on organizations developing advanced artificial intelligence, including his companies.

Nigerian begs Tesla founder Elon Musk for ventilators

Nigeria’s Ministry of Finance, Budget and National Planning on Wednesday headed to Twitter to beg the founder of the electronic automobile company, Tesla Inc., Elon Musk, for ventilators.