Lack of capacity in practical microfinance banking has been identified as a major challenge to microfinance banks in the country. Meanwhile 999 graduates have assessed N171.3milion loan from microfinance banks.

Governor, Central Bank of Nigeria, Mallam Sanusi Lamido Sanusi, has said empowering the 70 per cent of people living below the poverty line through financial inclusion would boost economic growth and development.

Finance Minister Olusegun Aganga says the Sovereign Wealth Fund (SWF) is needed for stronger fiscal framework to manage the nation’s resources.

The National Bureau of Statistics (NBS), says inflation rate stood at 11.8 per cent in December. It said in a statement in Abuja, that the figure was lower than the 12.8 per cent recorded in November.

Nigeria’s Foreign Direct Investment (FDI) inflows fell from six billion dollars in 2009 to $2.3 billion in 2010, a new UN report says.

Banks are increasingly adopting cash deposit Automatic Teller Machines (ATMs) to improve service delivery and enhance convenience for customers. And to reinforce its unwillingness to relinquish its leading position in this regard, First Bank recently unveiled the services of this unique electronic banking innovations in three strategic locations in Lagos State namely Lagos Island, Ikeja and Yaba.

The Federal Government has issued an open invitation to local and international business community through a series of global investors’ forum, with a view to attracting credible investors into Nigeria’s ailing power sector.

Emerging market countries should consider all possible means to prevent rapid and volatile capital inflows destabilizing their economies, according to the World Bank.

The Chairman, LASACO Assurance Plc, Mr Edward Akin Leigh has confirmed that the adoption of Transformation and Growth Strategy (Project TAGS) has helped transform the operations of the company positively.

Insurance operators have been urged to examine their positions on issuance of bonuses to forestall having excess stocks.