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Growing The Economy Through Forex Allocation

Growing The Economy Through Forex Allocation

While Nigeria faces shortage of foreign exchange, it is essential that critical sectors of the economy that would spur growth and development have access to dollars in order to speed up the recovery of the the nation’s economy. Last year, Nigeria was officially said to be in recession although the symptoms had been there for […]

CBN – Render Forex Returns In Uniform Format

CBN – Render Forex Returns In Uniform Format

The Deposit Money Banks on Thursday has been directed by the Central Bank of Nigeria  to render returns on foreign exchange in a uniform format. The apex bank has been under pressure in the last few weeks over its policy on foreign exchange management which some people have described as unfriendly to the business and investing […]

Guaranty Trust Bank Appoints New Executive Director

Guaranty Trust Bank Appoints New Executive Director

The Board of Directors of foremost African financial institution; Guaranty Trust Bank plc, has announced the appointment of Mobolaji Lawal as an Executive Director of the Bank. Prior to his appointment, he was the Divisional Head, Digital Banking Division. Mr. Lawal who joined the Bank in 1992 as an Executive Trainee and rose through the […]

Nigeria Raises N160bn Bonds at Yields below Inflation

Nigeria Raises N160bn Bonds at Yields below Inflation

The Debt Management Office (DMO) on Thursday said Nigeria raised N160 billion in local currency bonds at its second debt auction this year at yields lower than the inflation rate in Africa’s biggest economy. The debt office had initially wanted to raise N110 billion at the auction but increased the offer due to demand. Total […]

Nigerian Firms Struggle Against Strong Macroeconomic Headwinds

Nigerian Firms Struggle Against Strong Macroeconomic Headwinds

Nigerian firms to seek ways to boost their capital and reduce costs in order to stay in business. Although the banking and manufacturing sectors are exploring rights issue means of capital raising and rationalisation of staff and operations respectively, to hedge possible collapse, some analysts say liberalisation of foreign exchange policy and more synergy between […]

S. African Investor Laps up Zenith, Access Bank Shares

S. African Investor Laps up Zenith, Access Bank Shares

Allan Gray Ltd., the largest manager of non-government investment funds in Africa, has increased its stake in Zenith and Access Banks. The South African investor, based in Cape Town, is betting on Nigeria’s banking industry despite poor performances by the oil companies it depends on and widespread calls for the naira to be further devalued, […]

10,000 youths, Set To Get Ogun, CBN Aid

10,000 youths, Set To Get Ogun, CBN Aid

No fewer than 10,000 youths and other small-scale farmers are to benefit from the Ogun State/Central Bank of Nigeria (CBN) Anchor Borrowers Programme aimed at creating employment for youths and boosting agricultural production and food security in the state. The state Coordinator and Special Assistant to the Governor on Agriculture, Mr. Tosin Ademuyiwa, disclosed this […]

Fidelity Bank, LBS, NEPC Intensify Promotion Of Exports

Fidelity Bank, LBS, NEPC Intensify Promotion Of Exports

Fidelity Bank has reiterated its resolve to continue to promote and catalyze export businesses in Nigeria with the fourth stream of the Export Management Program (EMP) scheduled to hold at the Lagos Business School (LBS) later this month. The Export Management Program (EMP) is the off-shoot of the collaborative efforts between the bank, LBS and […]

Nigeria Begins Trade Negotiations With African Countries

Nigeria Begins Trade Negotiations With African Countries

The Federal Government will this week begin another round of negotiations with all the countries in the African region under the Continental Free Trade Agreement. The Strategic Communications Adviser to the Minister of Industry, Trade and Investment, Constance Ikokwu, who confirmed the development, said the Nigerian negotiation team, consisting of eight members, would be led […]

Nigeria Targets 7% GDP Growth by 2020

Nigeria Targets 7% GDP Growth by 2020

Nigeria is targeting economic growth of at least 7 percent by 2020, the Ministry of Budget and National Planning said on Tuesday, as the government seeks to lift the country out of its first recession in 25 years. The target for gross domestic product growth (GDP)  is part of a medium-term economic recovery plan, it […]

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