Finance

Financial experts say the Central Bank of Nigeria’s (CBN) proposed policy that will ensure that loan defaulters forfeit their deposits in other banks is commendable.

Nigeria’s Gross Domestic Product (GDP) growth rate dropped to 1.94 per cent (year on year) in real terms in the second quarter of the year (Q2 2019) compared to 2.10 per cent in the preceding quarter, according to the National Bureau of Statistics (NBS).

The Debt Management Office (DMO) says that the September savings bonds’ offer of the Federal Government has opened for transactions.

South Africa’s rand traded sideways on Monday, with investors holding fire ahead of second quarter economic growth figures that could help gauge the future direction for the currency.

The Securities and Exchange Commission (SEC) on Monday asked shareholders of the defunct Afribank Plc to claim their dividends.

Widespread adoption of Facebook’s proposed “Libra” cryptocurrency could harm the European Central Bank’s ability to manage the eurozone economy and threaten the euro itself, a top official said Monday.

The Central Bank of Nigeria (CBN) has rolled over N208.6 billion Treasury Bills across all maturities at the Primary Market Auctions.

The three-month deadline set by the Central Bank of Nigeria (CBN) for bank customers to deposit dirty naira notes in their banks will elapse at the close of business today.

Otunba ‘Debola Osibogun, CAFEi President, said in Lagos on Sunday that extension of the deadline would give room for more people to key into the initiative.

Contrary to insinuations in some quarters, the Central Bank of Nigeria (CBN) new policy regime mandating banks to go after customers who default on the repayment of their loans by seizing their deposits in other accounts is backed by law.

In its bid to assist people, especially small and medium entrepreneurs and those living in rural areas, to have access to credit facilities, a firm, Credit Assist Investment Limited, has launched a standard secured web and mobile application, KoloMoni.

First Bank of Nigeria Limited has disbursed over N100 billion under the Central Bank of Nigeria Commercial Agriculture Credit Scheme initiative introduced to strengthen agricultural value chain.

President Muhammadu Buhari on Friday held investment talks with top officials of Japan Bank for International Cooperation, and Toyota Group, at the margins of the Seventh Tokyo International Conference on African Development (TICAD 7), holding in Yokohama, Japan.

Nwani said there is nothing bad in borrowing but added that it should be for developmental projects in such a way that would have positive effects on economic growth and human development.

The Managing Director, Ecobank Nigeria, Patrick Akinwuntan, has called on bankers to reposition their skillsets and knowledge-scope in order to meet with the challenges of a fast-changing business environment and marketplace.

The Board Chairman, Bank of Industry (BoI), Aliyu Dikko, on Thursday said the lender has provided financial support worth N678 billion ($2.4 billion) to over two million Small and Medium Enterprises (SMEs).

The African Export-Import Bank (Afreximbank) and MUFG Bank on Thursday in Yokohama City, Japan, announced the signing of a Memorandum of Understanding (MOU) to provide a broad framework for collaboration between the two organisations.

The African Development Bank (AfDB) says it has committed $2 billion to the education and training of six million science students in Africa from 2005 to date.