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Fraudsters on the Prowl

The increasing incidence of fraudulent practices in the microfinance banking sub-sector indicate that the sub-sector may have been hijacked by fraudsters and quacks threatening the effectiveness of a policy aimed at creating millions of jobs and reducing poverty, Babajide Komolafe writes.

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Sanusi First Time Out

The Central Bank of Nigeria under Sanusi’s watch made scape-goats of five managing directors of banks over the weekend for serious liquidity strain as it has made it known from the onset that it would not accept any form recklessness in its oversight functions of banks in the country, Lucky Fiakpa writes

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Investors lose N262bn on NSE

Investors’ woes heightened last week, as the value of their investment on the Nigerian Stock Exchange (NSE) dipped by N262.4 billion.
The dip in their investment value was engendered by continuous decline in the key market indices, represented by the market capitalisation and All-share index. Both the capitalisation and index depreciated by 4.51 per cent each.

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Nigeria’s Debt Creation Office! (2)

No rational person will decry communal debt accumulation if the proceeds were directly applied to the alleviation of critical areas of deprivation, such that the repayment terms and cost of servicing the loan pale into insignificance when compared with the social and welfare benefits which will be enjoyed by the community over time.

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Something Good in Banking Reform

The current reform of the banking sector by the new Central Bank of Nigeria governor is no doubt forcing bitter pills down the throat of bank directors and shareholders but the International Monetary Funds is not only throwing its weight behind it but says it is the right path for the country to tread at the moment

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