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About 400,000 of our customers have BVN – Accion MfB

Even before the CBN made the BVN mandatory, AMfB has started requesting BVN from all our customers, we partnered with top commercial banks to get them to enroll our customers for BVN and we linked up with the Nigeria Inter-Bank Settlement System (NIBBS) to ensure we can verify those BVN and as at today almost 40,000 of our customers already have BVN and we are extending that to all savings customer. We are on track regarding that.

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AMCON stopped buying bad loans to discourage corporate rascality—Kure

It is going to be difficult in the next one or two years because what is happening now is that they are contributing a percentage of their balance sheet, which means that even if they are making loss, they will still contribute. And some of them are contributing more than the profit they are making because it’s tied to their balance sheet. But the law is very flexible, to the extent that CBN, based on the law, has the discretion to tweak with the contribution rate. But I am sure if the industry picks up, at certain point in time and the banks are doing well, I am sure it will be visited but all of us know what is happening in the banking industry today, so we have to be careful so that we don’t overburden them with contributions, and at the end of the day it will come back and create another problem.

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ASeM: NSE should increase engagement with SMEs – Kurfi

The truth of the matter is that those companies that are listed in the ASeM are more like moribund. They are not active in terms of releasing their results. What the alternative market is supposed to be is the stepping stone to the main market. A company that is aiming to go to the Main Board will first be listed there, and after it has demonstrated some level of competence, it will be graduated to the main market, but that is not the case in our country. If you look at it, for the last three to four years, no single company has moved from the alternative market. Rather, the companies will want to jump from the starting point to the main broad.

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Investors & exporters forex window sustaining rally in stocks —ASHON boss

The Nigerian stock market was adversely affected by economic situation of the country in the last two years; but in recent time, we have started seeing some improvement. The rally in stock market is majorly attributed to the monetary policy changes, such as the Investors and Exporters, I & E forex window, which allow investors to bring in their money at a well known market determined price.

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Stanbic IBTC throws weight behind REIT

INVESTORS in Real Estate Investment Trust, REIT, have received a boost as Stanbic IBTC Holdings Plc has indicated its preparedness to support individuals and businesses interested in long-term investment in the real estate sector. The bank said that in doing so, the industry will play its catalytic role in driving growth and development of the economy. The bank made the declaration at the inaugural edition of the Nigerian Stock Exchange, NSE, Real Estate Investment Trust, REIT, conference in Lagos.

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