CBN’s lending to banks rises 466 % to N268bn
Banks’ borrowings from the Standing Lending Facility (SLF) of the Central Bank of Nigeria (CBN) increased year-on-year (YoY) by 466 percent to N268.3 billion as at end of October 2023 from N47.35 billion as at October 2022 reflecting the increase in currency outside banks.
NOVA Merchant Bank promotes staff, flags-off Executive Trainee scheme
MONEY MARKET NOVA Merchant Bank, has announced the promotion of its staff as well as the flag off of its executive trainee scheme, noting that the promotions were in line with its goal of building a high performance culture. It also stated that the promotion cut across most grade levels including General Manager subject to […]
Nigeria needs policies to retain foreign portfolio investment-Ezeh, CEO, Everdon BDC
The VFD Group is a proprietary investment company with subsidiaries in banking, asset management, real estate, currency exchange and mortgage financing. In this interview, Chief Executive Officer of Everdon BDC, the currency exchange subsidiary of the Group, Theresa Ezeh speaks on the firms outlook for the foreign exchange market, Foreign Portfolio Investment (FPI) inflows […]
Access Bank partners Africa Fintech Foundry on 2021 Accelerator
program MONEY MARKET Africa Fintech Foundry (AFF) in partnership with Access Bank has commenced procedure for the 2021 Accelerator program. The group said it has opened up its registration portal for the 2021 Accelerator program. The ‘Accelerator’ program seeks to fast-track the growth of the best start-ups operating within the African technology ecosystem. The programme […]
E-payment transactions rise 80% to N2trn
Cashless economy has recorded further boost as the value of electronic payment transactions rose year-on-year (YoY) by N9.7 trillion or 80 percent to N21.9 trillion in 2020 from N12.2 trillion in 2019.
Nigeria’s debt service charges rise 89% to N803bn
By Elizabeth Adegbesan MONEY MARKET The cost of servicing Nigeria’s public debt has increased quarter-on-quarter (QoQ) by 88.8 percent to N803.69 billion in third quarter of last year (Q3’20), from N425.7 billion in Q2’20. The amount was used to service the country’s debt stock of N32.22 trillion during the review period. The figures in the ‘Nigeria […]
