African governments with large foreign reserves in western banks have been urged to keep such reserves with African Financial Institutions (AFIs).Read More
Interswitch, an e- payment and switching company, has deployed Gemaltoâ€™s Dexxis Instant Issuance solution to to accelerate banksâ€™ migration to its chip and PIN Verve paymnet card.Read More
Actis, a private equityÂ Â Â investor in developing countriesâ€™ capital market, has restated its commitment to the development of emerging markets in Africa and around the world, through partnering with Small and Medium Scale Enterprises (SMEs) in these countries, by helping them achieve their growth plans and contributing positively to the economic development of their various
An expert in the Nigerian financial market, Mr. Akin Oladeji, has tasked banks in the country on the need to cooperate with the newly introduced credit bureaus, in order to address the issue of bad loans in the nationâ€™s financial system.Read More
ABUJA -THE Independent Petroleum Marketers of Nigeria have file a petition before the Economic and Financial Crimes Commission against some officials of the Pipeline and Products Marketing Company for alleged fraud and sharp practices in the distribution of petroleum products.Read More
* MEND apologizes to Chief Clark By Emma Amaize WARRI- MOVEMENT for Emancipation of the Niger-Delta (MEND) yesterday bombed the Chevron Nigeria Limited (CNL)-owned Okan manifold, which controls about 80 per cent of the companyâ€™s off shore crude oil to its BOP Crude Loading Platform in Delta State. The group also made a volte face
Banks shareholders are agitating for detailed disclosure, in precise term, of how much contribution their off-shore subsidiaries are making to the overall performance of the group given the huge shareholdersâ€™ funds deployed in setting them up, Lucky Fiakpa writesRead More
The wave of competition caught up with the two card giants in Nigeria last week as they make claims of superiority over each others products, Babajide Komolafe writesRead More
If the President is coming to attend, there has not been any special invitation to that effect. Anyway, there are no signals that the president will be coming.â€Read More
The Association of Corporate Affairs Manager of Banks (ACAMB) has condemned in totality the publication by The Africa Report, a bi-monthly published by Paris-based Groupe Jeune Afrique which was quoted by The Punch, a Nigerian daily tabloid, classifying Nigerian Banks into an unknown and unacceptable ratings.Read More
Dangote and his co-cement manufacturers alleged in the petition that the Ministry of Commerce and Industry had allowed the importation of cement into the country at the expense of local manufacturers.
The petitioners, it was learnt, argued that local manufacturers had invested a lot in machinery and equipment to set up factories to produce cement locally.
The Federal Housing Authority (FHA) is set to restructure its Public-Private Partnership (PPP) unit with a view to accelerating its housing delivery mandate, with Nigeria said to be having a housing shortfall of 16 million currently.Read More
With two millionaires already announced in the bankâ€™s saving bonanza, all eyes are now on who will emerge winners of the Prado Jeeps and the landed properties in Lagos and Abuja, Lucky Fiakpa writesRead More
Strong indications emerged last week that the federal government might be contemplating reducing the present number of insurance companies in the country from 49 to 15 underwriters.Read More
In last weekâ€™s column, we invited Sanusi to take a closer look at the proposal in our paper titled â€œA Liberalised Foreign Exchange Market: and its Economic Benefitâ€ Boyo/Ojomaikre 2002 to the National Economic Intelligence Committee (see www.geocities.com/lesleba) in which we recommended that CBN auditors be permanently embedded in the Treasury and Foreign Exchange Departments of each bank as the only way to guarantee that the information submitted by our banks are accurate and reflect a true position of their state of health.Read More