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The Central Bank of Nigeria says it has retained the minimum 65 per cent of Loan Deposit Ratio in the interim.
The Nigeria Deposit Insurance Corporation (NDIC) has assured depositors of its drive to adopt cost effective method of bank failure resolution to protect depositors.
The Central Bank of Nigeria has deducted N500 billion from the accounts of 12 banks for failing to meet the target to provide credit to their customers.
The Central Bank of Nigeria has directed commercial banks to raise their Loan-to-Deposit Ratio from 60 to 65 per cent before December 31, 2019 deadline.
Nigeria has lost about $10 billion (about N3.6 trillion) over the past five decades in non-oil export opportunities, comprising crops such as cocoa, oil palm, cotton and groundnut.
Recalcitrant tax defaulters, high-end politicians, top civil servants, businessmen and other wealthy Nigerians with questionable sources of income are now in panic mode as the Nigerian Financial Intelligence Unit (NFIU) and other anti-graft agencies began beaming their searchlight on them in line with the Federal Government’s effort to retrieve state funds tallegedly siphoned in shady transactions.
The Central Bank of Nigeria (CBN) has directed Deposit Money Banks (DMBs) to dishonour instructions on the payment of salaries, pensions, and taxes of public and private companies that are not transmitted on approved electronic payment and collection platforms.
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.
The Central Bank of Nigeria (CBN) has warned Nigerians to beware of fraudulent messages in the social media circles requesting unsuspecting loan seekers and owners of small-scale businesses to apply for loans provided by the Federal Government through an e-mail address ([email protected]) purportedly being handled by the Central Bank of Nigeria (CBN).
The banking industry recorded 106 per cent increase in profitability to N310 billion in 2018 from N150 billion in 2017.
In a bid to further stimulate lending to the economy, the Central Bank of Nigeria, CBN, yesterday, said bank deposit placement through its Standing Deposit Facility, SDF, in excess of N2 billion will not attract interest payment.
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.
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.
The Central Bank of Nigeria (CBN), says it will issue loans at five per cent and with no collateral to Small and Medium Enterprises (SMEs) through the NIRSAL Micro Finance Bank (MFB).
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.
A government decree could see sport in the regions of Italy affected by Coronavirus played behind closed doors for as much as a week according to a report in today’s print edition of Gazzetta dello Sport.
Arsenal youngster Bukayo Saka has expressed his excitement after providing his 10th Assist of the season in Sunday’s Premier League win against Everton.
A circular released by the Ministry of Commerce (MOC) said the local commerce departments should tap into the efficient supply network of daily necessities across nine provinces to secure the supply in Hubei Province and its capital city, Wuhan.
Some residents of Maiduguri are observing the special prayer sessions and fast to end insurgency and restore peace to the war-tone Borno.
Kano State Governor, Dr. Abdullahi Umar Ganduje, has disclosed that his administration boosts local rice production to 3 million tonnes a year to meet the people’s demands on rice consumption.
Arsène Wenger wants to rush through a huge change to the offside rule so that it can be in place in time for Euro 2020.
“In his speech, Tamimi spoke at length about Rimi and his jihadi journey, and stated that Khalid bin Umar Batarfi is the new leader of AQAP,” it said.
The International Monetary Fund (IMF) has announced a downward review of its 2020 growth forecast for Nigeria to two per cent from the 2.5 per cent it predicted earlier.
The Federal Government is building the capacity of workers and stakeholders in the health sector to respond appropriately to health humanitarian crisis in the country, Dr Abdulaziz Mashi, Permanent Secretary, Federal Ministry of Health, said.
The coronavirus epidemic could damage global economic growth this year, the IMF head said Sunday, but a sharp and rapid economic rebound could follow.