THE Board of Directors of the African Development Bank has approved a $124.2 million loan to finance the Urban Water Sector Reform and Akure Water Supply and Sanitation Project in Nigeria.

FIDELITY Bank Plc has rewarded thirteen customers with N19 million for being faithful and committed to servicing their accounts. The lucky winners emerged from the second monthly/ first bi-monthly draw of the Get Alert in Millions Savings Promo Season 4, which held at the bank’s regional office in Abuja.

Analysts at the FBNQuest Research, an arm of the FBN Merchant Bank, have given a comparative view of Nigeria’s pension assets under management indicating under performance of peers. According to their report, ‘‘The Assets Under Management (AUM) of the regulated pension industry increased by 16.1% y/y in October to N9.81trn (US$32.0bn), and by 2.4% m/m. They represent just 7.7% of 2018 GDP.  This coverage lags peer emerging markets because the Nigerian industry, dating from 2004, is one of the newest. 

Nigeria’s inflation figure is still on the upswing with Financial Derivative Company, FDC, hinting of 127 bases point uptick.

The Managing Director, Imowo Microfinance Bank, MfB, Ijebu Ode, Ogun State, Mr. Ajayi Abiodun, in this interview, said that the survival of a bank is largely determined by its financial performance which requires good management and corporate governance, rather than capital base. He also highlighted other issues affecting the sub sector and its operations.

MANAGING Director/ Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), Umaru Ibrahim, has said that the proposed amendments to the Corporation’s enabling act will help to solve the various challenges to deposit insurance in the country.

Meanwhile cost of funds is expected to remain low this week  in the interbank money market due to expected inflow of N500 billion from matured secondary market (Open Market Operations, OMO) TBs.

The downward trend in the fortune of the naira against the dollar is expected to persist this week even as the nation’s external reserve falls to the lowest level in two years.

…As FEC Okays N40.4bn for Roads, By Johnbosco Agbakwuru – Abuja The Federal Government on Wednesday approved the automated platform for the issuance of Import Duty Exemption Certificate (IDEC) as well as vehicle identification and registration number. The platform is for government to effectively track and manages all revenue accruable from import duties and other […]

THE Nigerian Association of Small and Medium Enterprises, NASME, has said that micro and small businesses may not survive charges from bank loans.