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The Central Bank of Nigeria (CBN), said more than one million smallholders farmers had access to finance through its Anchor Borrowers Programme.

Central bank: One million farmers benefit from anchor borrowers scheme

The Central Bank of Nigeria (CBN) said more than one million smallholders farmers had access to finance through its Anchor Borrowers Programme.

Central bank governor unveils agenda for economy, to recapitalise banks

The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, on Monday unveiled his economic blueprint for the country, promising to recapitalise banks within the next five years to make them contribute significantly to economic growth.

NIRSAL secures fresh N4.5 billion from three banks for farmers

The Nigerian Incentive-Based Risk Sharing System for Agricultural Lending has secured a total of N4.5bn from four Deposit Money Banks for the cultivation of maize and soybeans in three states.

Reps: Over $900 million found in secret non-TSA accounts

The House of Representatives said it discovered that over $900m was still “being held” by Federal Government’s ministries, departments and agencies (MDAs) outside Treasury Single Account (TSA).

Central bank to withdraw N7.9 trillion dirty, mutilated notes

A large proportion of the N7.9 trillion pieces of naira notes in circulation are dirty, mutilated, unfit for Automated Teller Machines (ATMs) and over-the-counter payments, the Central Bank of Nigeria (CBN) has said.

Godwin Emefiele: MFBs advanced N482.89 billion credit to MSMEs in 2018

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday disclosed that total aggregate loans granted by Microfinance Banks (MFBs) to micro small and medium enterprises (MSMEs) in the country stood at N482.896 billion as at December 2018.

Revenue commission to probe banks over N100 billion stamp duties

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), says it will soon commence probe of banks over stamp duties collection as it expects to recover more than N100 billion from the probe.
Zainab Ahmed

Federal government introduces new revenue initiative

The Federal Government on Wednesday introduced the Strategic Revenue Growth Initiative to generate more revenues to finance national development.

NDIC becomes full member of Islamic financial board

The Council of the Islamic Financial Services Board (IFSB) with its headquarters in Kuala Lumpur, Malaysia, has admitted the Nigeria Deposit Insurance Corporation (NDIC) as a full member of the board.

Central bank: Proposed increase in minimum wage will stimulate growth

The Central Bank of Nigeria (CBN) on Thursday said the proposed increase in minimum wage for Nigerian workers would stimulate output growth in the economy.

N800 billion subsidy debt: Banks take over assets of oil marketers

For their inability to service their huge debts, Deposit Money Banks (DMBs) have taken over the assets of some defaulting oil marketers.

Report: NDIC pays N1.45bn to 34 closed DMBs in 2017

The Nigeria Deposit Insurance Corporation (NDIC), said it paid N1.45 billion to 16, 324 depositors of 34 closed Deposit Money Banks (DMBs) in 2017.
Acting Finance Minister of Finance Zainab Ahmed

Zainab Ahmed wants investigation, prosecution of bank chiefs over non-performing loans

The Supervising Minister of Finance, Zainab Ahmed, on Friday expressed serious concerns over the rising incidence of non-performing loans (NPLs) in deposit money banks (DMBs) in the country.
FILE PHOTO- An MTN starter kit pack on display at a retail stand in Abuja, Nigeria November 17, 2015. REUTERS-Afolabi Sotunde-File Photo

Central bank promises ‘equitable resolution’ over sanctions imposed on MTN, banks

The Central Bank of Nigeria on Wednesday said it has commenced a review of the information provided by telecoms giant, MTN, and four banks sanctioned recently over alleged illegal repatriation of funds.

Centrabk bank orders banks to return failed transfers within 10 minutes

The new regulation covers Instant Electronic Funds Transfer Services in Nigeria on various payment channels and any payment platform that seeks to provide Instant Electronic Funds Transfer Services in Nigeria.

Central bank unveils terms for long-term credit to agric, manufacturing sectors

The Central Bank of Nigeria (CBN) on Thursday unveiled terms for long-term credits to key sectors of the economy to boost real sector growth.

Bank loans to private sector declines by N600 billion in 18 months

The total loans granted by banks to the private sector declined by N600.60 billion, from N16 trillion in the first quarter of 2017 to N15.34 trillion, in the second quarter of 2018.

Central bank may lend directly to companies via commercial papers

The Central Bank of Nigeria might start lending to companies directly by buying their commercial papers.

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The Central Bank of Nigeria (CBN), said more than one million smallholders farmers had access to finance through its Anchor Borrowers Programme.

Central bank: One million farmers benefit from anchor borrowers scheme

The Central Bank of Nigeria (CBN) said more than one million smallholders farmers had access to finance through its Anchor Borrowers Programme.