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CBN: Why Nigerians can’t access loans from commercial banks

Central Bank of Nigeria (CBN) on Monday said that many Nigerians are unable to access loans from commercial banks because they cannot distinguish between working and fixed capital.

Re-capitalisation: Economist wants banks to ensure positive impact

An economist, Dr Boniface Chizea, has urged commercial banks and the Central Bank of Nigeria (CBN) to work together to ensure the proposed re-capitalisation had positive impacts on their operations and economy at large.

Farmers commend President Buhari for central bank supremo’s reappointment

The South, South Animal and Crops Farmers Association of Nigeria, has commended President Muhammadu Buhari for re-appointing Mr Godwin Emefiele as governor of Central Bank of Nigeria (CBN), for another five years.

IIADRI tasks banks on N500,000 withdrawal limit by local councils

A Non Governmental Organisation (NGO) has called on commercial banks to ensure compliance with the Nigeria Financial Intelligence Unit (NFIU) directive to local government councils on cash withdrawal limit.

Governor Ambode: I’m leaving Lagos better than I met it

“We have done it to a particular stage, we have stabilized it from where we have found it and irrespective of the recession and irrespective of the slow pace of the economy, there has been significant growth in the Lagos economy which is visible.”

Kaduna government establishes e-library, seeks banks, mobile networks support

The Kaduna State Government has solicited the support of Central Bank of Nigeria, commercial banks and mobile network providers for internet data subscription to connect its newly established E-Library.

Experts commend central bank for cutting lending rate to 13.5%

Two financial experts, Samuel Nzekwe and Titus Okurounmu, on Wednesday commended the Central Bank for reducing the benchmark lending rate from 14 per cent to 13.5 per cent.

Experts commend central bank for cutting lending rate to 13.5 percent

Two financial experts, Dr Samuel Nzekwe and Dr Titus Okurounmu, on Wednesday commended the Federal Government for reducing the benchmark lending rate from 14 per cent to 13.5 per cent.
Point of Sale - POS

NIBSS, others move to tackle e-payment failures

According to Ajao, the TAT had been configured at 15 seconds in agreement with banks and processors. However, delayed responses from Issuers after this timeout in recent times could cause authorised debits not to return to the terminal before the set TAT.

Central bank restricts sale of forex to importers of textiles

The Central Bank of Nigeria, CBN, has directed commercial banks and Bureau the Change operators to, immediately, stop sale of forex to import textiles and clothing materials in the country.

Banks borrow N6.27 trillion from central bank in seven weeks

As liquidity crunch continues to hold sway in the financial market, commercial banks have continued to access the Central Bank of Nigeria’s (CBN) standing facilities window to square up their positions by borrowing N6.275 trillion from the standing lending facility (SLF) window.
Vice President Yemi Osinbajo

Over 1.5 million benefits from federal government’s empowerment programme

The Executive Director, Micro Enterprise, Bank of Industry, Mrs Toyin Adeniji, says more than 1.5 million Nigerians have benefited from the Federal Government Enterprise and Empowerment Programme (GEEP) scheme since inception in 2016.
The Federal Capital Territory (FCT) administration has raised alarm over rising cases of insecurity and vandalism in the territory. Abuja

FCTA identifies one million taxpayers in Abuja

The Federal Capital Territory Administration (FCTA) said that it has so far identified and captured, in its database, over one million taxpayers in the Federal Capital Territory (FCT), who have received their Taxpayer Identification Numbers (TIN), through personalised SMS.

Minister tasks indigenous industrialists on technological innovations

Minister for Science and Technology, Dr. Ogbonnaya Onu, has urged industrialists across Nigeria to improve on their technological innovations for better products to help Nigeria diversify and be less dependent on crude oil as the mainstay of the economy.
An employee shows US dollar banknotes at a foreign currency brokerage office in Khartoum on October 7, 2018. - Sudan slashed the official value of its currency against the US dollar by more than half on October 7, the third devaluation this year in the face of a mounting economic crisis. (Photo by ASHRAF SHAZLY / AFP)

Naira ends 2018 stable with central bank, bureaux de change deal

The strategic partnership between the Central Bank of Nigeria (CBN) and Association of Bureaux De Change Operators of Nigeria (ABCON) on foreign exchange (forex) supplies and sustenance of market integrity helped the naira’s stability in 2018.

Audu Ogbeh: No politician can fix economic problems soon

The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, has said given the extent of damage already inflicted on the economy by past administrations, no politician currently vying for the seat of power has what it takes to return the economy on the path of growth within a short period.
President Muhammadu Buhari has lauded Nigerians for curbing excessive taste for foreign products, which has positioned the country for food self-sufficiency, and resulted into savings of over $21 billion.

#HAPPYBDPMB: A dozen reasons for Muhammadu Buhari’s reelection

On Monday December 17, 2018, President Muhammadu Buhari who is seeking re-election for a second term of office will be marking his 76th birthday and, in his own words, “still going strong.”
Debt Management Office (DMO)

DMO seeks legislation on debt management in states, FCT as profile rises by 111...

The Debt Management Office (DMO) has advised the 36 states of the federation and the Federal Capital Territory (FCT) to take necessary steps to enact relevant legislations, policy frameworks as well as guidelines to equip the debt management units or departments in their respective jurisdictions.

Recent Stories

US, Nigeria sign new pact on food security

The United States of America and Nigeria have signed a declaration of partnership to launch a five-year plan to improve food security, build greater resilience, and improve household nutrition in the country.

Over 20 feared dead as bandits attack Sokoto villages

Among the villages noted were Kamitau Mala Faru, and Dan Tatsako Some residents of one of the affected areas Kamitau said, the bandits attacked the area around 5:45am yesterday.

Korea to train 45 police on forensic investigation

The Republic of Korea, through its grant aid and technical cooperation agency, Korea International Cooperation Agency, (KOICA), has organised a three-year training programme for 45 Nigerian police personnel.
Tiger Woods

Tiger Woods says ‘Father Time’ catching up with him

Tiger Woods fans were hoping his Masters win in April marked a return to the days when he was a consistent threat at every major championship.
Senate President Ahmad Lawan presiding over the second plenary of the 9th Senate having been inaugurated on Tuesday, the 11th Of June, 20198

Senate seeks Nigeria’s status on extended continental shelf

The Senate yesterday invited the United Nations Resident Team in Nigeria and the Nigeria Boundary Commission to brief it on the status of Nigeria’s claim of extended continental shelf.