The federal government is considering a review of insurance brokers’ annual renewal of licenses to operate as brokers in the industry by the National Insurance Commission (NAICOM). This is as speculations are already making rounds that the renewals could be reviewed from being an annual activity to once in three years.

The Bank of Industry (BoI) believes firmly on the need to develop Small and medium Enterprises (SMEs) and the Micro, Small and Medium Enterprises (MSMEs) towards boosting the country’s economic growth. Giving inisght on how SMEs can access its facilities, Acting Managing Director, BoI, Mr. Waheed Olagunju, said: “Tthe bank’s objective is to re-examine the strategy or to explore means of mitigating the numerous challenges inhibiting the SMEs and MSMEs in the country from accessing loans.”

Diamond Bank Plc has announced N16.3 billion in gross earnings for the half year, H1, ended June 30, 2016, representing 13.3 per cent growth over N14.4 billion posted in the half year period in 2015.

The Central Bank of Nigeria (CBN) will this week mop up N245 billion from the interbank money market in a bid to reduce money supply in the economy. Meanwhile, cost of funds in the interbank money market fell by more than 50 percent last week due to inflow of N315 billion which increased the amount of idle funds in the market.

THE harsh economic situation in the country is beginning to take its toll on the nation’s legislative arm of government as paucity of funds has stalled the public hearing of the Ports and Harbours Bill.