FOLLOWING the advent of money loan apps, an online borrowing system and Central Bank of Nigeria, CBN’s NIRSAL Microfinance Bank, MfB, competition may have escalated in the MfB subsector.

  By Mustapha Sumaila, Abuja Mr. Godwin Emefiele the Governor of Central Bank of Nigeria (CBN) says the implementation of cashless policy in six states of the federation is in public interest to promote an efficient payment system. Emefiele stated this while fielding questions from journalists after the Monetary Policy Committee meeting held in Abuja […]

By Olubukola Aiyedogbon, Ilorin Residents of Ilorin, capital of Kwara have expressed concern over the charges on deposits by the Central Bank of Nigeria. Some of them who spoke with the News Agency of Nigeria (NAN) in Ilorin on Friday said that it is was nothing but extortion by the apex bank. Mrs. Adejumoke Olumuyiwa, […]

By Victor Young Organized Private Sector, OPS, has warned against immediate deployment of cashless policy as directed by the Central Bank of Nigeria, CBN, saying “the current business environment and available infrastructures are not ready for such deployment.”   Speaking through Nigeria Employers’ Consultative Association, NECA, OPS contended that several sub-sectors of the economy would […]

United Bank for Africa (UBA) Plc, yesterday, announced that the services of its Chatbot, Leo, is now available for customers on Apple Business Chat, where its users can communicate directly with businesses using the Messages app on iPhone and iPad.

The federal government is negotiating for a new tranche of $2.5 billion concessionary loans with the World Bank, in a move to fund its estimated N2.15 trillion deficit contained in 2020 national budget. Also, the 2019 budget has a deficit of N1.64 trillion to be funded by loans.

The Central Bank of Nigeria (CBN) says its current effort to revive Cotton, Textile and Garment (CTG) industry is targeting at engaging 300,000 farmers to achieve 450,000 metric tonnes of cotton in 26 states in the next three years. The CBN Governor, Mr Godwin Emefiele, disclosed this at a meeting to brief some state Governors […]

By Vincent Ujumadu, Awka The Financial Inclusion State Steering Committee (FISSCO) in Anambra State has mapped out strategies aimed at achieving 80 percent adult financial inclusion in the state by 2020. The FISSCO members were drawn from commercial banks, microfinance banks, as well as representatives from ministries of Basic Education and Women Affairs and National […]

CONTRARY to popular views power supply may not witness significant improvement with privatisation, as industry experts call for a long term sustainable strategy.

Average price of petroleum products across the 36 states of the federation have recorded some increases in the month of August, 2019, the Nigerian Bureau of Statistic, NBS, has said.

 In Order to adequately fund critical projects in Nasarawa state, the state government has sought and obtained a loan approval of N5bn private bond issuance by the state House of Assembly. It would be recalled that the state government had approached the state House of Assembly for its support and approval of N5bn only which […]

The Federal Government has taken another determined step in its bid to recover over N5 Trillion outstanding debts owed by the Asset Management Corporation of Nigeria (AMCON), with the formal inauguration of an inter-agency Committee to speedily resolve the challenges in recovering the debts. Vice President Yemi Osinbajo, SAN, inaugurated the Committee on Monday at […]

As the insurance industry digs deep into the recapitalisation programme set to terminate by mid-2020, an industry analyst has hinted of a possible threat to the benefits of a successful programme.

Union Bank supports women capacity building with Alpher

DESPITE the sluggish economic growth and headwinds recorded in the first half of 2019, HI’19, aggregate growth rate in topline (gross earnings) and bottom-line (Profit Before Tax, PBT) of both tier-1 and tier-2 banks listed on the Nigerian Stock Exchange, NSE, tipped up to 5 percent and 11.6 percent to N 2.2 trillion and N561.3 billion.