Tag Archives: Business News

Access Bank has commenced the 13th season of its DiamondXtra promo as part of its continuous drive to encourage savings culture and reward its loyal customers. The bank in a briefing to announce the commencement said the promo, which kickoff over the weekend, will reward over 2,000 customers and would …

Binance, the biggest cryptocurrency alternate firm on the planet, says Nigeria has the very best adoption fee globally Regardless of the Central Financial institution of Nigeria ban on the usage of cryptocurrency for transactions inside the nation, the adoption fee hit 32%. Nigeria leads Vietnam, Philippines, Turkey and Peru in …

The Central Bank of Nigeria, CBN has said it sees the country’s inflation rate dropping to a single digit next year, with the full implementation of its recent policies designed to boost different sectors of the economy. The Director of Monetary Policy Department, CBN, Dr Hassan Mahmud, said this on …

Data from Nigeria’s apex bank has shown that amid ease in the economy, commercial banks in Nigeria borrowed N9.97trillion from the Central Bank of Nigeria (CBN) between January and July 2021. The CBN financial data revealed that commercial and merchant banks, through the Standing Lending Facility (SLF), between January and …

Nigeria’s foreign liabilities stood at $187.36bn while the country’s foreign assets amounted to $102.15bn as of December 2020, the International Monetary Fund has said. From 2016, Nigeria’s foreign liabilities jumped by 42.41 per cent from $131.56bn, while foreign assets rose by 13.67 per cent from $89.87bn. Foreign assets are the …

Wema Bank Plc said it is considering a merger or acquisition with either a financial technology company or a bank as it hits the market next month with a rights issue to raise N40 billion in capital. This was revealed at the presentation on the bank’s 2021 half year result …

Access Bank Plc has equipped 74,000 Access Closa agents to provide financial services to customers across the country, to drive financial inclusion.   Mr Robert Giles, Senior Banking Advisor, Retail, Access Bank, made this known in a statement on Friday in Lagos. He said the agents were empowered with POS, to deliver …

The Financial Derivatives Company Limited (FDC) Ji has described the documentation process required by banks for the sale of foreign exchange (forex) as cumbersome, saying this will pose a challenge to the public. The CBN Governor, Mr Godwin Emefiele, had last week, at the end of the Monetary Policy Committee meeting, …

The Lagos Chamber of Commerce and Industry, LCCI has advised the Federal and State Governments to liberalise the infrastructure sector by breaking government monopoly and securitize corporate assets via public offerings to attract investment. According to an official statement released on Sunday titled ‘Practical steps for boosting revenue and foreign …

From next week, the Central Bank of Nigeria (CBN) will begin the disbursement of the N30 billion revitalisation fund set aside for them by the Federal Government. But there is a caveat: Each university must present an audit report on how it utilised previous disbursements. Labour and Employment Minister Chris Ngige, …