NDIC pays N1.48bn to 10,312 depositors of 47 closed MFBs
The Nigeria Deposit Insurance Corporation, NDIC, has paid N1.48 billion to 10,312 insured depositors of 47 recently closed microfinance banks, MFBs, as part of efforts to strengthen confidence in the banking system.
Manufacturers, Banks confused over new Forex policy
The new Forex policy introduced by the Central Bank of Nigeria (CBN) has created confusion for the manufacturing sector in Nigeria and their banks. The Lagos Chamber of Commerce and Industry, LCCI, in a communiqué following an interactive forum on CBN Forex policy organised by the chamber, said the new CBN policy is ambiguous as the restricted items are not well-defined and specific and has plunged both manufacturers and banks into confusion.
Job creation: IES to empower three million entrepreneurs
The institute of Empowerment and Strategy, IES, has announced plans to empower over three million entrepreneurs with the resources to grow their businesses and positioning them to contribute meaningfully to job creation and economic development.
Nigeria lags in global outsourcing industry
“Here (Nigeria) we started from the supply side, we have not started the domestic demand side, we are servicing the outsiders, the thing is that Nigerian companies have not be able to embrace outsourcing because they don’t know the value. “If they know the value of the thing you want, you have to invest and protect that thing. So we are saying that outsourcing is the key to economic growth, it is the key to job creation, it is the key to creating wealth, for individuals and for the nation.”
BVN Extension: CeBIH advocates prompt enrolment by customers
“The four months extension seems a long period, but customers should not delay or postpone their enrolment – it is better to do it now. Customers should not wait a few days to October 31st to avoid last minute registration rush and avoid spending hours in banking halls. They should also remember that they can enroll for their BVN from any branch of their bank, hence there is no need to wait till when you can visit the branch where the account is domiciled”, he said.
How NB divides beer market along taste line
Despite the avalanche of various beer brands in the market, Nigerian Breweries Plc has gone ahead to introduce a new beer brand; Star Triple X, thereby further dividing the taste line of consumers. The company says the beer is brewed with 14 natural extra African herbs of bitter kola, kola nut, ginger etc. The continuous development and introduction of new product (s) is an important source of improvement in consumer (s) welfare and company’s income.
