Finance

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.

Naira closes at N363.32 to dollar at investors window

The Naira on Wednesday closed at N363.32 to the dollar at the investors window, the News Agency of Nigeria (NAN) reports.

CBN pledges to increase funding of anchor borrowers programme

The Central Bank of Nigeria (CBN) has pledged to increase the funding of the Anchor Borrowers Programme (ABP) due to the success of the programme in the North-east.

NAICOM restructures Goldlink Insurance’s board

The National Insurance Commission has effected changes in the interim board and management of the Goldlink Insurance Plc.

Central bank issues new directive on payment of salaries, pension taxes

The Central Bank of Nigeria (CBN) has issued a directive for the commencement of the end-to-end electronic payment of salaries, pensions, suppliers and taxes in the country.

Farmers in Northeast to repay N1.5 billion loan to central bank

Gombe Commodity and Exchange Depot will on Tuesday in Gombe present a cheque of N1.5 billion as part of the farmers repayment loan to the CBN Anchor Borrowers’ Programme.

Union Bank introduces TechVentures to support tech-based businesses

Union Bank of Nigeria Plc on Monday launch TechVentures, a unique banking proposition aimed at providing tailored services to technology companies in their various stages of business life cycle.

Hameed Ali: Customs generated N4 trillion in four years

The Nigeria Customs Service said it generated about four trillion naira revenue for the country in the last four years.

ABCON: CBN should make Bureaux de Change direct agents of IMTOs

Association of Bureaux De Change Operators of Nigeria, ABCON, has called on the Central Bank of Nigeria, CBN, to implement provisions of its 2014 circular which makes BDCs direct agents of international money transfer operators, IMTOs, as obtained in other countries.

Kenya set to launch $2.5 billion third sovereign bond

Kenya is planning to launch its third sovereign bond worth $2.5 billion, but the East African country requires the assistance of a financial consultant to advice on the timing, pricing and viability.

Merger: Access Bank announces shareholders meeting

Pursuant to its planned acquisition of Diamond bank PLC, Access Bank Friday announced the schedule for the court-ordered shareholders meeting for March 5, 2019.
Trader Moni

Bank of Industry disagrees with ex-President Obasanjo, Transparency International on TraderMoni

The Bank of Industry (BOI) has said that the micro credit scheme of the Federal Government, TraderMoni was not conceived as a political product to induce voters ahead of 2019 elections.
Zainab Ahmed

FAAC disburses N8.03 trillion to federal government, states in 2018

The Federation Account Allocation Committee (FAAC) says it disbursed a sum of N8.03 trillion to the Federal and State Governments in 2018.

DBN: We’ve given loans to 35,000 MSMEs

Tony Okpanachi, managing director, Development Bank of Nigeria (DBN), says in its first year of operations, the bank exceeded its projected performance with a total loan disbursement of N31.36 billion to 35,000 micro, small and medium enterprises (MSMEs).

Naira loses marginally against dollar at parallel market

The Naira on Thursday lost marginally to the dollar at the parallel market in Lagos exchanging at N362.5, weaker than N362 traded on Wednesday.

Pat Utomi: Likely monetary policy rates retention in future reasonable

An economist, Prof. Pat Utomi, has said the likely retention of the Monetary Policy Rates for a while at 14 per cent was reasonable due to non-availability of pressure on the economy.

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Prisons Comptroller speaks on alleged ballot box snatching in Lagos

The Comptroller of Prisons, Lagos State Command, Tunde Ladipo, says there are no cases of ballot box snatching by political thugs in all the places his team visited during the Presidential and National Assembly elections in the state.
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Elections: We’re satisfied with process so far – INEC

The Independent National Electoral Commission (INEC) said it is satisfied with the ongoing conduct of the elections so far from the reports it has received from the 36 states and FCT.

Election: Senator Shehu Sani loses polling unit with wide margin

Shehu Sani is seeking re-election to the Senate under the Peoples Redemption Party (PRP) while Uba Sani is vying on the platform of the All Progressives Congress (APC).

Malfunctioning smart card readers mars voting in llorin

Hundreds of eligible voters’ in several parts of Ilorin metropolis were unable to cast their votes at the commencement of voting on Saturday following malfunctioning of smart card readers.