Finance

Banks commit N10 billion loans to firms

First Bank of Nigeria and Access Bank have committed N10 billion loan to firms that have good credit ratings.

Central bank predicts boost in credit with moveable collateral

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday stated that given that the inherent risks in granting loans to Micro Small and Medium Enterprises (MSMEs) by banks is now reduced tremendously through the introduction of the National Collateral Registry (NCR), small businesses will now be able not only to access credit but also access such at reasonable rates.

Central bank lists measures for anti-money laundering, combating financing of terrorism

The Central Bank of Nigeria (CBN) has warned employees of financial institutions to avoid establishing relationships with individuals or entities who may pose undue reputational risks to their organisations.

MfBs push for implementation of NMP in intervention funds

The National Association of Microfinance Banks, NAMB, has called for a full implementation of the National Microfinance Policy, NMP, in the application of intervention funds.
euro

Mystery buyer props up euro as bond yields fall

The euro held at a two-week low on Friday as traders nursed losses in a week of bad data that indicated an economic slowdown in Europe was spreading as trade tensions between United States and China remain high.

FIRS recovers N23 billion from 45,000 tax defaulters

The executive chairman, Federal Inland Revenue Service (FIRS), Tunde Fowler, has said that the Service, in collaboration with other stakeholders like the Nigeria Police Force, will continue to go after wealthy tax defaulters in 2019.

SEC shuts down Ponzi scheme in Kano

The Securities and Exchange Commission (SEC) has sealed off the premises of Dantata Success and Profitable Company, Kano for engaging in illegal capital market activities,

CBN’s Godwin Emefiele foresees tomato revolution in Nigeria

The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, has expressed optimism that another revolution, similar to what was recorded in the production of rice production, was about to occur in the tomato sub-sector.

AfDB, ECOWAS sign agreement on 1,000km Abidjan-Lagos highway

The African Development Bank (AfDB) and ECOWAS, have signed an agreement for a study into a 1,000 km highway that will link Cote d’Ivoire’s commercial capital Abidjan, to Lagos.
bitcoin

Cryptocurrency trader dies with password to £110m clients’ investments

Canada’s leading cryptocurrency exchange company has said it cannot repay $190m (£110m) to clients because its founder died with their passwords.

CBN: We remain focused on forex stability

The Central Bank of Nigeria (CBN) on Monday assured Nigerians that it will continue to act in the best interest of the country.

Central dank disputes Business Day report of sleaze in forex market

The Central Bank of Nigeria, CBN, has refuted a front-page news story of Business Day which claims that faceless agents pocket over N32bn annually in profit from the foreign exchange market with the aid of CBN officials.
Zainab Ahmed

Minister: Nigeria’s debt within fiscal limits

Nigeria’s borrowing is still within acceptable fiscal limits, despite the country’s growing debt level, the Minister of Finance, Zainab Ahmed, has said.
Zainab Ahmed

Minister: No cause for alarm over federal government’s borrowing plan

The Minister of Finance, Mrs Zainab Ahmed, has assured Nigerians that there is no cause for alarm over Federal Governments’ borrowing as it still remained within the fiscal limits.

Naira stable at N360.5 to dollar at parallel market

The Naira on Thursday traded flat at N360.5 to the dollar at the parallel market in Lagos, the News Agency of Nigeria reports.

Central bank commends Northeast farmers for paying loans

The Director of Development Finance of the Central Bank of Nigeria (CBN), Mr Mudashiru Olaitan, has commended farmers in the north-east for paying the loan granted to them by the bank under its Anchor Borrowers Programme (ABP).
Bank of Agriculture - BoA

Official: Bank of Agriculture prosecutes debtors to recover N60 billion debt

The Bank of Agriculture (BOA) has commenced legal action against bad debtors, while trailing those that intentionally diverted loans to other uses, as part of efforts to recover N60 billion debt.

Election: BDC operators complain of low patronage in Benin

Bureau De Change operators in Benin are lamenting low patronage in spite of current political activities ahead of the general elections.

Recent Stories

Hundreds of demonstrators, in defiance of a ban of protests, rallied in the Algerian capital against a bid by ailing President Abdelaziz Bouteflika for a fifth term in office.

Algerians protest against President Bouteflika’s bid for fifth term

Hundreds of demonstrators, in defiance of a ban of protests, rallied in the Algerian capital against a bid by ailing President Abdelaziz Bouteflika for a fifth term in office.

Elections: Rivers APC kicks as INEC chairman claims every judgment has been obeyed

The Director of Strategic Communications for the All Progressives Congress (APC) governorship candidate in Rivers State, Tonye Cole, Prince Tonye Princewill, has expressed dissatisfaction with the Chairman, Independent National Electoral Commission (INEC), Prof. Yakubu Mahmood, over the claim that all court judgments have been obeyed by the electoral umpire as regards the state.

Elections: Police summon APC Reps member over Kano violence

The police in Kano on Friday ‘invited’ a member of the House of Representatives, Abdulmumin Jibrin, over his alleged role in a bloody clash between members of the PDP and APC in Bebeji Local Government Area.

Elections: Liberia’s Ellen Sirleaf urges politicians to maintain peace, adhere to rule of law

Head of the ECOWAS Election Observetion Mission (EOM), former Liberia’s President, Ellen Johnson-Sirleaf, has urged Nigerians, particularly the political class, to sustain the peace that characterised the postponement of the Presidential and National Assembly elections and also conduct themselves according to the laws of the land as they go to the polls Saturday.

Policeman, thugs arrested for branding private vehicles in police colours

An unidentified police inspector was arrested on Thursday at a hotel in Ewet Housing Estate for aiding some people to brand two private vehicles in police colour.