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CBN Moves To Advance Agric Loans

CBN Moves To Advance Agric Loans

As the fall in global oil prices continues to batter oil-producing economies including Nigeria, the Central Bank of Nigeria has begun moves to encourage banks to advance more loans to stakeholders in the agriculture value chain. As a result, the CBN has organised a workshop on ‘innovative agricultural insurance products’ aimed at making insurance companies […]

CBN Gov. Warns Of Possible Economic Crisis In 2016

CBN Gov. Warns Of Possible Economic Crisis In 2016

The nation is likely to face to an economic crisis in 2016 if activities in the agricultural and manufacturing sectors are not revived. These are the words of the Central Bank Governor, Mr Godwin Emefiele, who highlighted some of the observations of the Monetary Policy Committee in Abuja. Mr Emefiele said that concerted efforts must […]

W’Bank How Abacha Loot Was Spent

W’Bank How Abacha Loot Was Spent

A civil society organisation, the Socio-Economic Rights and Accountability Project, has asked the World Bank to disclose how the loot recovered from the late military dictator, Gen. Sani Abacha, was spent. The group wants the World Bank to release to it, documents detailing the projects to which the recovered loot was applied, as well as […]

W’Bank Appoints New Country Director For Nigeria

W’Bank Appoints New Country Director For Nigeria

The World Bank has announced the appointment of a new Country Director for Nigeria and Coordinating Director for West Africa Regional Integration. A statement issued by the bank in Abuja on Monday named the new director as Rachid Benmessaoud. Benmessaoud joined the World Bank in 1990 as an energy planner in the then Europe, Middle […]

Fidelity Bank Flags Off Saturday Banking

Fidelity Bank Flags Off Saturday Banking

Fidelity Bank has announced the commencement of Saturday banking services in some branches across the country,following the effective commencement of the Treasury Single Account (TSA), The TSA directives mandated the draining of all government agencies accounts domiciled in commercial banks to the Central Bank of Nigeria. In a statement from the bank, effective September 12, 2015, […]

CCIABN Changes Its Name

CCIABN Changes Its Name

The Committee of Chief Internal Auditors of Banks in Nigeria (CCIABN) has changed its name to become the Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN). The group, which doubles as a sub-committee of the Bankers’ Committee of the Central Bank of Nigeria (CBN), the decision aligns with current international practice whereby Internal Auditors […]

CBN Injects Dollars Into Banking System

CBN Injects Dollars Into Banking System

Central Bank of Nigeria, CBN, injected dollars into the market on Friday, September 18, following a lull in foreign exchange trade for a few days. The managing director of the FMDQ, Bola Onadele,who revealed this said: “The central bank intervened on Friday. It sold dollars to the banks so hopefully trade will pick up,” Nigerian firms and […]

CBN Gov. Under Fire Over Currency Controls

CBN Gov. Under Fire Over Currency Controls

Nigeria’s central bank governor is coming under fire from economists and investors as Africa’s top crude producer reels from the collapse in oil prices. Godwin Emefiele has introduced a range of currency controls in recent months to try to halt the decline of the naira, which has lost about 22 per cent of its value […]

NSIA; Funds & Assets Intact

NSIA; Funds & Assets Intact

The Nigeria Sovereign Investment Authority has said all funds and assets managed by it are intact and fully accounted for as detailed in its audited financial statement for the year ended 2014. The organisation, which manages the country’s Sovereign Wealth Fund, said in a statement on Sunday that funds in its custody had been invested […]

Young; Nigeria Can Boost E-payment

Young; Nigeria Can Boost E-payment

The Deputy Managing Director, Chams Mobile, Mr. Gavin Young, says Nigeria’s e-payment industry is one of the fastest growing in the world, but there is a need to increase the pace in the informal sector. He spoke with OYETUNJI ABIOYE. How would you assess Nigeria’s evolving e-payment system and payment card industry? It is thriving; […]

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