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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 […]

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 […]

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 […]

CBN Pumps In $995m, Mulls New Forex Retail Option

CBN Pumps In $995m, Mulls New Forex Retail Option

The Central Bank of Nigeria is contemplating introducing a new FOREX retail option in Nigeria, just as it released another $195million into the market today. The bank last week released $800 million , making a total of $995million injection, in eight days. The bank hoped that the fund will adequately meet the requests of customers […]

Nigeria’s Current Account Balance Hit N823 Billion

Nigeria’s Current Account Balance Hit N823 Billion

Showing a sign of recovering from a deficit of $15.43 million in 2015, Nigeria recorded a positive current account balance of $2.72 (N823 billion) million in 2016. The Organisation of the Petroleum Exporting Countries (OPEC), which made the disclosure in its 2017 Annual Statistics released recently, showed that OPEC countries recorded a collective current account […]

Accounts Assistant – Bank Reconciliations Job At African Development Bank (AfDB)

Accounts Assistant – Bank Reconciliations Job At African Development Bank (AfDB)

The African Development Bank Group (AfDB), established in 1964, is the premier pan-African development institution, promoting economic growth and social progress across the continent. There are 80 member states, including 54 in Africa (Regional Member Countries). The Bank’s development agenda is delivering the financial and technical support for transformative projects that will significantly reduce poverty through […]

CBN Lifts Naira With $418 Million

CBN Lifts Naira With $418 Million

The Nigeria’s Naira is set to be given further lift in the forex market with the Central Bank of Nigeria, CBN’s injection of another $418 million into various segments of the inter-bank Foreign Exchange market on Tuesday. This is coming on the heels of a cumulative $2.2bn boost in the transactions at the Investors’ & […]

Senate Says CBN Has 7 Days To Recover N536bn Non-remitted Revenue

Senate Says CBN Has 7 Days To Recover N536bn Non-remitted Revenue

Today, we will address the non-remittance of revenue collected on behalf of Customs The Senate on Tuesday gave Central Bank of Nigeria (CBN) seven days to recover monies collected by banks on behalf of Nigeria Customs Service but not remitted to it. The order was given by the Committee on Customs, Excise and Tariff at […]

Every Effort On Economy Will Fail If Interest Rates Remain High: Senate

Every Effort On Economy Will Fail If Interest Rates Remain High: Senate

Nigeria’s Senate on Tuesday stated that business enterprises could not survive under the current interest rates being charged by financial institutions, which range between 25 and 30 per cent. The legislature noted that the economy would not grow despite the current efforts by the Federal Government to revive it if the interest rates remained high. […]

Embrace Low Interest Loans: FMBN Urges Civil Servants

Embrace Low Interest Loans: FMBN Urges Civil Servants

Apart from usual loans given to contributors to build their houses, FMBN has introduced house renovation loan to assist contributors to renovate their houses The Federal Mortgage Bank of Nigeria (FMBN) on Tuesday called on civil servants in Kuje Area Council, FCT to embrace the low interest loans of the bank. Mrs Shakirat Oyawoye, the […]

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