The Bank of Industry (BOI) has disbursed interest-free loans to more than 350,000 beneficiaries the 36 states of the federation including the FCT since December 2016, under the Government Enterprise and Empowerment Programme (GEEP), one of the National Social Investment Programmes (NSIP) of the Federal Government.

In the last two editions of this column we outlined some basic features of Wema Bank’s small businesses loan package, ‘myBusiness Account’ in the three variants – Bronze, Silver and Gold.

The Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, has stated that micro, small and medium enterprises (MSMEs) have the potential to greatly enhance the tax revenue profile of the country if adequately harnessed.

Diamond Bank Plc has announced its disbursement of over N1 billion under the cash flow-based small and medium enterprise (SME) lending scheme.

MTN Nigeria has empowered 100 women from the Police Officers Wives’ Association (POWA), Lagos State chapter, with the provision of mobile stalls to sell products such as airtime and data through the use of digital gadgets.

A marathon can be a gruelling test in mental and physical endurance and is not one for the faint hearted. The entrepreneurship journey can be a difficult path for most. Here are tips on marathon preparation that can help on your entrepreneurship journey.

I think regulators are too harsh on companies with the numerous and high amount of fines they impose on companies. The money that companies pay as fine is shareholders own. So I feel regulators should be soft pedal on the fines they impose on companies. It is the employees that somehow flout some of these rules. Why should shareholders bear the brunt? Also, the amount of fine they charge these companies need to be reviewed. For instance, the Central Bank of Nigeria, CBN, for a single offence, charges not less than N50 million. This is really too much and is affecting the amount that would have been given us as dividend.

Linkage Assurance Plc has secured the approval of the National Insurance Commission (NAICOM) to underwrite agric insurance.

The Central Bank of Nigeria, CBN, recently introduced guidelines for USSD transactions. Among other things the guidelines include daily limit of N100, 000 on USSD transaction, apparently in a bid to checkmate fraud through the channel. Some bank customers who spoke with Financial Vanguard shared the opinion about the limit

Banks and other stakeholders in the financial sector have been advised to focus on priority areas in implementing financial inclusion so as to fast-track the achievement of the goals.

Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele will address the third biennial bank customers summit organised by the Bank Customers Association Nigeria (BCAN). 

The Lagos State Government, in collaboration with the office of the Vice Presidency, organised SMEs Clinic for micro, small and medium enterprises, MSMEs, in the Lagos region previous week. At this backdrop, the President of the Association of Micro Entrepreneurs of Nigeria, AMEN, Prince Saviour Iche, in a chat with  Financial Vanguard, said the federal government must ensure proper monitoring of intervention funds made available to development banks for on-lending to the MSMEs in order to ease access to credit, among other issues. Excerpt:

Over 37.3 million adults in the informal sector face the risk of old age poverty, as the informal sector workers are isolated from the formal pension arrangements.

Despite the positive sentiment recorded in the equities market at week close on Friday, investment experts and other capital market operators have said that the market will remain in the negative region as the Friday positive run was not driven by any fundamental.

Shareholders of 11PLC (Formerly Mobil Oil Nigeria Plc) have approved N2.6billion for payment as dividend translating to 800 kobo per share for its shareholders for the financial year ended 31 December 2017.