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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.
A new directive by the Central Bank mandates Nigerian banks to give N65 as loans for every N100 they have as deposits.
There is still high rate of poverty in Nigeria despite government’s effort in pulling the country out of recession, the national chairman of the All Progressives Congress (APC), Adam Oshiomhole, has said.
Lagos Chamber of Commerce and Industry (LCCI) says the lending policy of the Central Bank of Nigeria (CBN) will normalise the credit markets, spur economic growth and broaden the interface between entrepreneurs and the banking industry.
The Central Bank of Nigeria has pegged bank deposit placement through its Standing Deposit Facility (SDF) at N2billion, saying that any amount in excess of that will not attract interest payment.
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.
Less than two weeks to the general elections, gubernatorial candidate of the All Progressives Grand Alliance (APGA) in Kaduna State, Polycarp Gankon, has denied the rumour making round in the state that he has collected money to mortgage his candidature.
A Federal High Court presided over by Justice Ijeoma Ojukwu has ordered the interim forfeiture of assets and properties traced to Ngozi Olejeme, a former chairman of Nigeria Social Insurance Trust Fund, NSITF.
Ahead of the 2019 general elections, the Nigerian Guild of Editors (NGE) has advised the Independent National Electoral Commission (INEC) to be truly independent and show its loyalty to Nigeria and neither to any particular politician nor individuals.
The Central Bank of Nigeria (CBN), has said that companies seeking licenses as Mortgage Guarantee Companies (MGCs), shall maintain a N6 billion minimum capital in addition to N100,000 non-refundable application; non-refundable licensing fee of N1 million; and N50,000 change of name fee.
An activist, Ogedi Ogu, has asked a Lagos High Court Igbosere, to order Oxford University Press to pay N10 million as damages, over alleged wrong word definition.
The Court of Appeal sitting in Makurdi has upheld the decision of the election petition tribunal affirming the election of Abdullahi Sule as governor of Nasarawa State.
An engineer in the employ of Nnamdi Azikiwe University, Awka, Anambra State, Emeka Chiaghana, has been abducted.
The crisis rocking the Edo State chapter of the All Progressives Congress (APC) has got messier with State Working Committee of the party passing a vote of no confidence in the state chairman, Anselm Ojezua.
President Donald Trump on Tuesday signalled that he would be open to striking a deal with Democrats on the Deferred Action for Childhood Arrivals (DACA) programme if the U.S. Supreme Court were to uphold his decision to repeal the initiative.
Former Minister of Sports, Bolaji Abdullahi, has said that the restoration of the governing system of the National Sport Commission (NSC) remains the best way of managing sports in Nigeria.
Super Eagles ace Peter Olayinka was in the thick of the action as his Czech Republic side Slavia Prague played out an impressive 0-0 against Barcelona at Camp Nuo on Tuesday night.
The leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu, has given the Federal Government fresh condition upon which he would sit at a round table with Nigerian Government officials to discuss the issue of the Biafran struggle.
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Thousands of people with mental health conditions across Nigeria are chained and locked up in various facilities where they face terrible abuse, Human Rights Watch said in a report on Monday.
The governor of Ebonyi State, Chief David Umahi, on Thursday reacted to the collapsed building in Akaeze community, Ivo LGA which resulted to death of three siblings in the state.