The Central Bank of Nigeria (CBN) is set to increase the minimum paid-up capital of Unit Micro-Finance Banks (MFBs) by 500 per cent to N100 million. It also increased that of State MFBs by 100 per cent to N2 billion. Under the micro-finance bank policy introduced in 2006, there are two categories of MFBs -State MFBs and Unit MFBs.

The economic growth of any nation cannot be achieved without putting in place well focused bank products that could reduce poverty and increase people’s access to factors of production, especially credit.

In every facet of business, there are always an attempt by companies to draw a line and difference between sponsorship, in the past and present. Studies have shown that past sponsorships were primarily focused on awareness building and strategies, but had ignored brand image issues.

A NIGERIAN, in the person of Dr. Oladele Ajayi has been named Managing Director designate, Heineken Hungary.
With this appointment, Dr. Ajayi becomes the first African to manage a Central European operating company of Heineken as part of the global Brewer’s policy of giving equal opportunities to employees worldwide.

The federal government has directed the management of the Federal Housing Authorities (FHA) to ensure transparency and due process in the sale of houses and allocation of land across the country.

N igerian entrepreneurs are ready and willing to work to give Nigeria a pride of place in the comity of nations but there is a snag. All of them without exception lament the lack of basic infrastructure. With one voice they are asking the government to provide the basic infrastructure especially power and deal with corruption, and they will ensure that Vision 20-2020 will not be a mirage.

Oceanic Bank International Plc has entered into a strategic partnership with the International Chamber of Commerce (ICC) with the aim of promoting increased local participation in regional and global trade ventures.

Ecobank has extended its Regional Card (ATM Card) services; enabling holders of the card withdraw cash within South Africa from any Nedbank ATM. The inclusion of South Africa in the usage of the Ecobank Regional Card was announced on Thursday by Ecobank Nigeria Managing Director, Mr. Jibril Aku in Lagos.

The first year of Mallam Lamido Sanusi as Governor, Central Bank of Nigeria (CBN), has been not surprisingly turbulent with unprecedented radical developments in the nation’s financial system.

EQUITIES:Market fluctuation to persist The fluctuation of shares prices on the Nigerian Stock Exchange (NSE) is expected to continue this week, as apprehension continue to trail activities in the global financial landscape.

The federal government may have begun moves to address the shortage of skilled personnel in the aviation industry, even as it has vowed to clamp down on mushroom aviation training schools in the country.

PETROLEUM and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, has called on the Federal Government to tailor ongoing efforts to reform the oil and gas sector towards equitable distribution of wealth among all stakeholders.

Nigeria’s central bank has set up a technical team to value bad bank loans that will be purchased by the new asset management company, Sanusi Lamido Sanusi said on Friday.

The winner of the Guinness 250 Anniversary consumer promotion, Mrs. Gbemisola Oladunni
Awofade has meet with the music group; Black Eyed Peas in Dublin, Ireland, a statement emanating from Guinness Nigeria has said.

A bearish trend was recorded on the Nigerian Stock Exchange (NSE) last week, as the value of listed equities dropped by N7.23 billion.