Tag Archives: Business News

The Central Bank of Nigeria has voted unanimously to leave its monetary policy rate (MPR) unchanged at 11.5% and other key monetary policy parameters, as approved by its Monetary Policy Committee (MPC) during its September of 2021 meeting. The decision came against the backdrop of decelerating inflation and is aimed …

…As Nigerian Migrant Workers Top List The Naira4Dollar policy of the Central Bank of Nigeria (CBN) may have begun to yield dividends as remittances from Nigerians in the Diaspora now stand at an average of $34 billion annually. This translates to an increase of $9 billion from the previous record …

Nigeria’s leading financial institution, Zenith Bank Plc, has introduced an Artificial Intelligence (AI) powered Chatbot on WhatsApp named ZIVA (Zenith Intelligent Virtual Assistant), which enables customers to perform financial transactions and enjoy real-time customer service from their mobile phones. Customers can enrol by simply adding the bank’s verified WhatsApp mobile …

A new report by Agusto & Co. Limited has shown that in the 2020 fiscal year, the banking industry in Nigeria recorded a decline in electronic banking  (e-banking) income. In the report by the nation’s foremost research house and rating institution, it was stated that the drop was by 27.3 …

The federal government has disclosed that it expended N2.02 trillion for debt service in the first six months of this year. This figure represents 90.5 per cent (approximately 91 per cent) of the total revenue of N2.23 trillion generated by the national government within the period. Mr Alfred Okon, who …

Wema Bank Plc says it has, in partnership with SheCan Nigeria, empowered 1,000 women through a skills acquisition programme in order to help women achieve their personal and business potential. To further help women realise their personal and business potentials, Wema Bank Plc again partnered with SheCan Nigeria on a …

…As Health, defence, transport, works get highest capital budget allocations The Ministries of Works and Housing, Defence, Health and Education are to get the highest capital allocation in the 2022 federal budget. This is according to the 2022 Budget Call Circular released on Tuesday night. The circular sets out the …

Bank customers who present fake travel documents for foreign exchange (FX) requests are at risk of criminal prosecution by the Central Bank of Nigeria (CBN). The United Bank for Africa (UBA), in a statement, conveyed this to its customers, ask them to desist from such practice. The CBN had directed …

The Federal government on Monday disclosed plans to unveil the Medium-Term National Development Plan 2021-2025 in October. According to the Minister of State for Finance, Budget and National Planning, Clem Agba, the plan is aimed at lifting millions of Nigerians out of poverty and ensuring economic stability, development and good …

FirstBank of Nigeria Ltd on Sunday announced a N500,000 business grant to five Small and Medium Enterprises (SMEs), through its SMEConnect initiative aimed at boosting employment. Group Head, Retail Banking, Lagos Mainland 1, FirstBank, Mrs Oludolapo Adigun  listed the five beneficiary SMEs to include: Buyscrap Nigeria Enterprise; Arteasy Nigeria; Gris …