Finance

Banks get two-week deadline on ATM, e-banking complaints

The Central Bank of Nigeria has directed all banks to resolve all outstanding issues relating to failed Automated Teller Machine, Point of Sale terminal and other electronic banking transactions within two weeks, starting June 8, 2020.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

Analysts welcome reduction of lending rate by central bank

Financial analysts on Friday said the reduction of the monetary policy rate from 13.5 to 12.5 per cent, as announced by the Central Bank of Nigeria would expand the level of output in the economy and to some extent address inflation trend occasioned by the COVID- 19.

AfDB: ‘No decision’ yet on demands for probe of Akinwumi Adesina

The African Development Bank (AfDB) on Thursday said “no decision” had been taken regarding a US push for an outside probe into its president, Akinwumi Adesina, accused by whistleblowers of ethics breaches.
South Africa’s central bank (SARB) said on Friday it would reduce overnight repo auctions to one per day from the two it has held since early March to inject liquidity into the banking system amid the coronavirus pandemic.

South Africa’s credit growth slows to 7.37% year on year in April

Growth in private sector credit in South Africa in April slowed to 7.37% year on year from a revised 7.75% in March, central bank data showed on Friday.
Illustration photo shows a two-rand coin above a South African flag April 12, 2017. REUTERS-Thomas White-Illustration

South Africa’s rand falls, focus on Donald Trump’s Hong Kong response

South Africa’s rand weakened against the dollar early on Friday as investors monitored the latest U.S. response to China tightening its control over the city of Hong Kong.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

MPC slashes interest rate to 12.5 percent

The Monetary Policy Committee (MPC) of Central Bank of Nigeria has reduced Monetary Policy Rate (MPR), to 12.5 per cent.

Akinwumi Adesina has not been asked to step down – AfDB board chair

The President of the African Development Bank, Akinwumi Adesina has not been asked to step down, Mme Niale Kaba, the chairman of the bank’s Bureau of the Boards of Governors said today.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

Central bank reduces lending rate to 12.5%

The Monetary Policy Committee of the Central Bank of Nigeria on Thursday reduced the Monetary Policy Rate to 12.5 per cent.
Kenya Central Bank Governor Patrick Njoroge arrives for a news conference at the Central Bank of Kenya (CBK) headquarters in Nairobi, Kenya July 25, 2019. REUTERS-Stringer

Kenya central bank governor says small businesses need urgent help

Kenya’s small and medium businesses need urgent help to survive the economic slowdown caused by the novel coronavirus, and many are at risk of shutting down by the end of June, the head of the central bank said on Thursday.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

Central bank announces reliefs on OFI loans

As part of its continued effort to mitigate the impact of the coronavirus (COVID-19) on households, businesses and regulated institutions, the Central Bank of Nigeria (CBN), has announced more relief measures.

Akinwumi Adesina: I’ve not violated AfDB’s code of ethics

The President of the African Development Bank, AfDB, Dr Akinwumi Adesina, has reiterated his confidence in the integrity of the Bank, saying that he has not violated the Code of Ethics of the bank.
South African Rand coins are seen in this photo illustration. REUTERS-Mike Hutchings

South Africa’s rand climbs to eight week high against dollar

South Africa’s rand raced to its highest in more than eight weeks against the U.S. dollar on Tuesday, as optimism about a global recovery from the COVID-19 pandemic boosted riskier assets, with investors looking past Sino-U.S. trade tensions.
The central bank of eSwatini has cut its main lending rate by 50 basis points to 4%, its latest reduction in recent months in response to the outbreak of the coronavirus.

eSwatini cuts rates further in response to virus

The central bank of eSwatini has cut its main lending rate by 50 basis points to 4%, its latest reduction in recent months in response to the outbreak of the coronavirus.
Debt Management Office (DMO)

Nigeria begins sale of N150 billion sovereign Sukuk at 11.2 percent

The Federal Government on Thursday began the sale of its third tranche 7-year N150 billion Sovereign Sukuk, the Debt Management Office (DMO) said.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

Central bank reschedules MPC meeting over holidays

The Central Bank of Nigeria (CBN) has rescheduled it’s Monetary Policy Committee (MPC) meeting from Monday and Tuesday May 25 and 26 to Thursday, May 28.
The National Coordinator of the Presidential Task Force (PTF) on COVID-19, Dr Sani Aliyu, says restriction measures like social distancing, and wearing of face masks need to continue during the period of Ramadan, which is around the corner.

Coronavirus: Nigeria issues fresh directives to banks, offices

The National Coordinator of the Presidential Task Force on COVID-19, Sani Aliyu, has asked banks and offices to start adjusting their structure, as the federal government ponders lifting restrictions.
A man is silhouetted against the logo of the World Bank at the main venue for the International Monetary Fund (IMF) and World Bank annual meeting in Tokyo. REUTERS-Kim Kyung-Hoon

Minister: Nigerian states to get $1.5 billion from World Bank

The World Bank has got a proposal of 1.5 billion dollars to states as part of economic stimulus to cushion the impact of the COVID-19 pandemic, says Minister of Finance, Zainab Ahmed.
As part of its ongoing effort to revitalise the growth of SME’s in the Health Sector, Polaris Bank has announced the introduction of a new Polaris Health Sector Loan bundle to support the growth of the sector.

Polaris Bank optimistic on post-coronavirus performance

Polaris Bank plans to leverage its investment in cutting-edge information technology to harness emerging opportunities and mitigate the disruptive effect of the COVID-19 pandemic on its business.

Recent Stories

The Nigeria Police Force says its investigation shows that Boko Haram, Ansaru and other terror groups are getting support from some Nigerians.

Police arrest father of six for ‘rape’ of 13-year-old girl

The Police in Jos have arrested a 39-year-old businessman, Abdul Abdul, for allegedly raping a 13-year-old girl after buying N20 sachet water in her mother’s makeshift store.
Inspector-General of Police Mohammed Adamu

IGP: Video in circulation of maltreatment of man not Nigerian

The Inspector General of Police (I-G), Mohammed Adamu, says a video in circulation, credited to “NigeriaDream”, showing a security officer meting inhuman treatment on a man, did not happen in Nigeria.
Kalidou Koulibaly has called Napoli's 4-0 Champions League win over Genk on Tuesday night an important victory.

Sadio Mane: I’d be very happy if Liverpool signed Kalidou Koulibaly

Mane believes the 29-year-old Napoli defender would be a huge hit for the newly-crowned Premier League champions.

US judge orders delay of first federal executions in 17 years

A U.S. judge on Monday ordered a delay in federal executions, hours before one was to be carried out for the first time in 17 years, hampering the Trump administration’s plan to revive capital punishment by the federal government.
Lionel Messi on Monday allowed a deadline to pass in his contract that would have allowed him to terminate the deal unilaterally and leave Barcelona on a free, Marca today report.

Lionel Messi future is here, in football and after football – Barca chief

Barcelona president Josep Maria Bartomeu is adamant Lionel Messi will not be leaving.