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CBN Finances 370 Agric Projects With N287.5bn

CBN Finances 370 Agric Projects With N287.5bn

Since its inception in 2009, a total sum of N287.47bn has been disbursed to finance 370 projects under the Commercial Agriculture Credit Scheme, statistics obtained from the Central Bank of Nigeria have revealed. The figures are contained in the Financial Stability Report for the first half of this year prepared by the Financial Policy and […]

Banking Industry; 2014 -2016 Challenges

Banking Industry; 2014 -2016 Challenges

The continuing headwinds in the economy may be defining the sustenance of the resilence banks have demonstrated in their 2014 operations. A consecutive year of severe negative operating environment may end up signposting both 2015 and 2016 as seasons of locust after signficant rises in performance indicators in the previous three years. Much cannot be […]

CBN Cuts Interest Rate

CBN Cuts Interest Rate

Nigeria’s Central Bank (CBN) has cut policy interest rate for the first time in almost four years. At the end of its two-day rate setting meeting, the CBN Chief, Godwin Emefiele announced a 200 points cut to 11% in headline interest rate from 13% previously. The financial regulator also shaves-off the Cash Reserve Ratio (CRR) […]

Access Bank Hosts Anti-Fraud Forum

Access Bank Hosts Anti-Fraud Forum

Access Bank Plc will host stakeholders involved in anti-fraud functions in various banks at a forum in Lagos. The forum, with the theme: “Fraud Management – The need for a Harmonised Approach” is an initiative of the lender to engage stakeholders on how to proactively solve the industry’s fraud challenges and to minimise frauds with […]

CBN: BVN Registration Continues

CBN: BVN Registration Continues

The Bank Verification Number (BVN) registration will still go on despite the expiration of the deadline on Saturday, October, 31, the Central Bank of Nigeria and the Nigerian Inter-bank Settlement System (NIBSS) have said. The spokesman of the CBN, Ibrahim Muazu said yesterday that the process will still go-on and the deadline means that any […]

Reps Investigates CBN Over N400bn Intervention Projects

Reps Investigates CBN Over N400bn Intervention Projects

House of Representatives yesterday directed its committee on Banking and Currency to investigate the legality of the N400 billion contractual transactions and other related matters by the Central Bank of Nigeria (CBN) for its intervention projects. The committee is to report back to the House in four weeks for further legislative action. This resolution by […]

Banks To Deactivate Unregistered Accounts – BVN

Banks To Deactivate Unregistered Accounts – BVN

Bank customers that are unable to obtain their bank verification numbers (BVNs) before the close of business this Friday would not be able to operate such accounts as the Central Bank of Nigeria (CBN) has ruled out another extension of the deadline, which expires this Friday. The Central Bank of Nigeria (CBN), in collaboration with […]

26m Bank Accounts To Be Frozen – BVN Deadline

Just 24 hours to the deadline for Bank Verification Number, BVN, less than half of the 52 million bank customers have been registered, a development that may have caused discomfort in the banking industry. Central Bank of Nigeria, CBN, had said no extension would be made while non-registered bank customers would be barred from accessing […]

BDAN To Discuss Bank’s Oversight Roles

Bank Directors Association of Nigeria (BDAN) is organising a business forum to discuss key issues facing banking. According to its President, Dr. Sunny  Kuku, the theme of this year’s forum, “Oversight Functions of the Board: Effectively Managing Key Internal and External Relationships”, is apt in view of recent challenges faced by many organisations. Dr. Kuku […]

OPS Requests BOI To Bring Down The Interest Rate On GEF To 5%

The Organised Private Sector [OPS], has hailed the Bank of Industry (BOI) for the N2 billion Graduate Entrepreneurships Fund it unveiled three weeks ago to tackle youths unemployment in the country. OPS, however, requested the bank to bring down the interest rate on the loan to five percent from the current nine percent. Speaking exclusively […]

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