As part of the reforms in the banking industry, Managing Directors of microfinance banks (MFBs) will, in the nearest future, sit for Central Bank of Nigeria (CBN) organized exams with any manager who fails the test will cease to manage their banks.

By Babajide Komolafe, Peter Egwuatu, Yinka Kolawole and Michael Eboh Stakeholders in the financial service sector are divided over the plan of the Central Bank of Nigeria (CBN) to replace universal banking system with niche banking – specialised, regional sector specific banking. The Senate committee on banking has accepted the concept but said the Senate […]

The rate at which companies have been relocating from Nigeria to Chana is an indication that the nation’s economy has become unattractive to businesses.

“Banking Reforms: Soludo Deceived Us – Mark”. The foregoing was the caption of a report on pg 15 in the Business & Economy section of the Punch Newspaper edition of Friday, 15/3/2010.

Even so, well over 40 million Nigerians continue to be jobless despite the recently announced figure of 29%. Unemployment, however, is only one of many reasons behind youth unrest across the country and in the Delta region in particular. Others include:

The upward trend in the equities segment is expected to continue this week, as investors continue to patronise the market due to the stability and impressive returns on investment in recent times.
A bullish trend was recorded in the capital market, last week, as the value of listed equities appreciated by N111.04 billion.

FirstBank of Nigeria Plc has obtained a 3-year Medium Term Loan Facility worth USD350 million from Standard Chartered Bank UK. The purpose of the facility is for general financing requirements.

It is often said and rightly too, that little drops of water make a mighty ocean and it has been proved time and time again that economies of nations are made great through the efforts of small and medium scale enterprises. Any economy that neglects small and medium scale enterprises does so at its own peril.

FinBank Plc is offering unique banking services at the Enugu International Trade Fair in line with its renewed business focus. The Bank is showcasing a bouquet of convenient electronic products such as FlashMeCash, FlashWallet, SpeedPay and other personalized banking services at the Fair.

Banks are battling with a new wave of non-performing loans occasioned by the ongoing credit freeze and slowdown in economic activities.

The managing director and chief executive officer, Eagle Package Printing Limited, Mr. Olusoga Sonaike, has called on the Federal Government to fashion out efficient implementation strategy for its draft national tax policy to address the problem of multiple taxation in the industrial sector of the economy.

GROUP Managing Director designate of the United Bank for Africa [UBA] Plc Mr. Philips Oduaza yesterday in Benin declared the preparedness of the bank to provide funds to the Edo State Government to enable it realize its developmental programmes. Mr. Oduaza who disclosed this when he led management team of the bank to pay courtesy visit on Comrade Governor Adams Oshiomhole, said the UBA was very pleased with the developmental strides of the state government.

Nigeria has raised its planned spending for this year to around N4.3 trillion from an initial N4.079 trillion proposal, outgoing finance minister Mansur Muhtar said on Thursday.

SAP Africa has announced the completion of one of its largest Enterprise Resource Planning (ERP) System implementations in Nigeria, with the completion of the Greenfields rollout at Oceanic Bank International Plc.

Investors’ holdings on the Nigerian Stock Exchange (NSE) recorded significant appreciation, as the value of their investment appreciated, last week, by N111.04 billion.