Tag Archives: Business News

The Central Bank of Nigeria (CBN) on Thursday said it re­duced the minting of the nai­ra in order to boost electronic banking transactions in the country. The CBN Deputy Gover­nor, Economic Policy Direc­torate, Dr. Kingsley Obiora, said this on Thursday in Abu­ja at the Grand Finale of the eNaira Hackathon. …

The Central Bank of Nigeria (CBN) has announced the reversal of the interest rate on all its intervention loans to 9 per cent from 5 per cent. In the wake of the COVID-19 pandemic in 2020, the apex bank slashed the interest rate on its facilities offered to manufacturers to …

The Nigeria Inter-Bank Settlement System (NIBSS) has revealed that Nigerians digital transactions spending on utility bills including as electricity, Pay TV subscriptions, and other common utilities hit N1.69 trillion in the first seven months of 2022. This is an increase of 32.06 percent over the N1.28 trillion that was electronically …

Access Bank in its continuous bid to empower female entrepreneurs with financial and business skills has called on women entrepreneurs globally to apply for its Womenpreneur Pitch-a-Ton Africa season four. The Group Head, W Initiative, Access Bank Group, Mrs. Abiodun Olubitan, made the call at a media roundtable for the …

The Securities and Exchange Commission, SEC has advocated for a unified foreign exchange rate in order to attract Foreign Portfolio Investment, FPI into the country. The Commission said that the Central Bank of Nigeria (CBN) needs to harmonise exchange rates to boost FPI which has been on the downside for …

The African Development Bank (AfDB) Group, has said that its financial sector portfolio in Nigeria is currently valued at $1.3 billion of which the figure represents 30% of the bank’s portfolio. This was made known by the Director-General, Nigeria Country department of AFDB, Mr. Kanin Barrow on Monday in Abuja …

In today’s dynamic economy, investors around the world are interested in investment opportunities that will guarantee a good return on investment (ROI) with minimal risk. This means proper risk assessment before building an investment portfolio. An investment portfolio is a collection of financial assets owned by an investor, which may …

Mastercard and Ecobank Group have partnered to connect millions of smallholder farmers in Sub-Saharan Africa to Mastercard’s Farm Pass – a digital platform that makes it safer and easier for farmers to sell their produce at a fair price. Under the partnership, Ecobank will extend the reach and impact of …

Mobile transactions in Nigeria have jumped by 4,009.58 per cent to hit N8.07tn within a five-year period as the number of telecommunication subscribers rises by 34.91 percent to 195,128,265. This is according to data from the Nigeria Interbank Settlement System and Nigerian Communications Commission. According to mobile inter-scheme transaction data …

The Central Bank of Nigeria on Thursday kicked against plan by the Senate to enact new anti-money laundering laws without required amendments on the existing Money Laundering ( Prevention ) Act 2011. The CBN Governor, Godwin Emefiele, made the position known during a public hearing in Abuja organised by Senate …