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We Want To Repay Etisalat’s $1.2bn Loan, Not Takeover The Company – Banks

We Want To Repay Etisalat’s $1.2bn Loan, Not Takeover The Company – Banks

We are not telecommunication companies, all we want is our money Consortium of 13 banks involved in Etisalat Nigeria loan on Thursday refuted reports that they have taken over the operations of the company. A management source close to the banks who pleaded anonymity in Lagos said that there was no truth in the report […]

Forex: Naira Remains Stable This Week In Parallel Market

Forex: Naira Remains Stable This Week In Parallel Market

The ​N​aira ​on Thursday remained stable at N364 per dollar in the parallel market. ​There was no significant increase or decrease in the figure all week days. The stability was attributed to weak demand for dollar and increased supply due to dollar sale to bureaux de change by the Central Bank of Nigeria (CBN​). CBN […]

Growbiz Account: Keystone Bank Restates Support For SMEs

Growbiz Account: Keystone Bank Restates Support For SMEs

Keystone Bank Nigeria Limited in line with the Federal Government’s recent drive to support growth of SMEs through its policies, has reiterated its commitment to the support of the growth of small and medium scale enterprises in Nigeria. This sentiment was expressed by the Acting Managing Director of the bank, Hafiz Bakare. ‎Mr. Bakare noted […]

World Bank Approves $961m Support For Nigeria

World Bank Approves $961m Support For Nigeria

The World Bank, in alignment with the Economic Recovery and Growth Plan of the Federal Government of Nigeria for 2017–2020, has approved two Programme-for-Results operations totalling $961m to support Nigeria’s federal and state governments in their effort to foster inclusion and revive growth. The Better Education Service Delivery for All Programme-for-Results is a $611m credit […]

N541 Billion Debt: Etisalat Nigeria Taken Over By Access Bank, Others

N541 Billion Debt: Etisalat Nigeria Taken Over By Access Bank, Others

A consortium of banks, led by Access Bank PLC and other Nigerian and foreign banks, has taken over the management of Etisalat Nigeria, effective June 15. The takeover followed the collapse of the effort by Emerging Markets Telecommunications Services, EMTS, promoted by-one time Chairman, United Bank for Africa, UBA, Hakeem Bello-Osagie, to reach agreement with […]

Don’t Underestimate Inflation: Bank Of England’s Forbes Warns

The increase in headline inflation isn’t just a temporary effect of the exchange rate that’s going to go away Bank of England policy maker Kristin Forbes has a message for her colleagues as her term ends: don’t leave it too late to rein in consumer prices. “For a period now, we have been underestimating the inflationary […]

Nigeria To Fund 2017 Budget With Improved Tax And Customs Revenue Collection

Nigeria To Fund 2017 Budget With Improved Tax And Customs Revenue Collection

Nigeria seeks to improve its collection of revenues from taxes and customs duties to fund the country’s record 7.44 trillion-naira ($22.99 billion) 2017 budget, the minister of budget and national planning said on Monday. Africa’s largest economy has been in recession since last year, largely due to low oil prices and militant attacks on the […]

Dollar Rises To 3-week High Against Yen

Dollar Rises To 3-week High Against Yen

The U.S. currency rose to a three-week high against the yen as Asian investors carried on from their North-American peers in buying the greenback as Federal Reserve speakers pointed to strength in the U.S. economy. The dollar gained for a second day versus Japan’s after New York Fed President William Dudley said he was confident the […]

Experts Warn Against Trouble For The Stock Market

Experts Warn Against Trouble For The Stock Market

There may be trouble ahead for the U.S. stock market, two experts warned on Monday. Scott Wren, senior global equity strategist at Wells Fargo Investment Institute, said there is a little enthusiasm and a bit of chasing going on right now in the market. “Valuations are stretched. There’s plenty of headwinds in the second half […]

Forex: Naira Firms As CBN Injects $195m Into Market

Forex: Naira Firms As CBN Injects $195m Into Market

The Nigeria’s Naira on Monday strengthened against the other foreign currency after the Central Bank of Nigeria (CBN) injected a total sum of $195 million into the inter-bank forex market on same day to meet the requests of customers in the various segments of the market. This follows the CBN’s intervention in the inter-bank foreign […]

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