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Angola’s Net Reserves Rise To $20.89bn In February

Angola’s net foreign exchange reserves rose to $20.89 billion in February from $20.31 billion in January, data posted on the central bank’s website showed on Friday.

FG, States Owe $11.41bn To Foreign Creditors

FG, States Owe $11.41bn To Foreign Creditors

The Federal Government of Nigeria, the 36 state governments, and the Federal Capital Territory Administration currently owe foreign creditors a total of $11.41bn, the Debt Management Office said. Statistics obtained from the DMO on Monday showed that while the Federal Government’s foreign debt stood at $7.84bn as of December 31, 2016, the 36 states of […]

CBN New Forex Policy Will Limit Economic Growth – Okupe

CBN New Forex Policy Will Limit Economic Growth – Okupe

Mr. Doyin Okupe, former special adviser to ex-president Goodluck Jonathan, has said that the new Forex policy of the Central Bank of Nigeria, as directed by the federal executive recently, is not sustainable and may limit national economic growth and development of the country. Okupe who stated this in his Facebook post on Sunday afternoon, […]

March Could Mark The End To Nigeria’s Economic Crisis

March Could Mark The End To Nigeria’s Economic Crisis

The curtain appears to be drawing on the most painful economic crisis in Africa’s most populous nation, as green shoots of recovery sprout across several pockets of an economy the International Monetary Fund (IMF) has tipped to grow one percent in 2017. Declining inflation, rising external reserves on the back of higher oil volumes and […]

2017 GTBank Food And Drink Fair

2017 GTBank Food And Drink Fair

The 2017 Guaranty Trust Bank (GTbank) Food and Drink fair is set to hold on April 30 and May 1, 2017.   The bank posted the information on its twitter . See tweet below: The 2017 GTBank Food and Drink fair is set to hold on April 30 and May 1, 2017. #GTBankFoodDrink pic.twitter.com/c4tYc9fvfU — […]

Sweden’s Biggest Bank Threatens To Leave Country If Govt’s ‘Shocking’ Fee Is Passed

Sweden’s Biggest Bank Threatens To Leave Country If Govt’s ‘Shocking’ Fee Is Passed

The present Swedish government is not friendly with the private sector right now, having recently had companies like Norwegian and Spotifty threaten to move their operations from Sweden due to regulation or the lack thereof. The Swedish financial sector is now locking horns with the government as well. Advertisement: Earlier this year, the Swedish government put […]

Bank Official Testifies Against Nigerian Ex-aviation Chief Over Alleged N6.8bn Fraud

Bank Official Testifies Against Nigerian Ex-aviation Chief Over Alleged N6.8bn Fraud

A Stanbic IBTC Bank official, Ade Babatunde, on Monday told a Federal High Court, Lagos how Segun Agbolade, a former General Manager (Finance), Nigerian Airspace Management Agency, NAMA, allegedly defrauded the agency. Mr. Babatunde, while being led in evidence by the EFCC prosecutor, Rotimi Oyedepo, made the revelations at the resumed hearing of the case […]

NDIC Urges Depositors To Report Banks Indulging In Sharp Practices

NDIC Urges Depositors To Report Banks Indulging In Sharp Practices

The Nigerian Deposit Insurance Corporation (NDIC) has urged depositors to report any sharp practices by commercial banks. It also called on Nigerians to shun dubious financial schemes and wonder banks which have continued to defraud unsuspecting members of the public. Speaking at the NDIC Day at the ongoing 38th Kaduna International Trade Fair on Thursday, […]

GTBank Wins Six EPIS Awards

GTBank Wins Six EPIS Awards

Guaranty Trust Bank Plc (GTBank) said it reaffirmed its position as Nigeria’s leading financial institution on e-payments with its emergence as a multiple award winner during the 2017 Electronic Payment Incentive Scheme (EPIS) awards organised by the Central Bank of Nigeria (CBN) and the Nigeria Inter-bank Settlement System (NIBSS) recently. With six awards, GTBank took […]

$500m Loan Targets Out Of School Children – World Bank

$500m Loan Targets Out Of School Children – World Bank

Nigeria’s effort to address  the problem of out-of-school children has been boosted by World Bank’s plan to offer a $500 million loan. An official of the bank and a Senior Education Specialist, Dr Olatunde Adekola, made this known in Sokoto. Leading a five-man team to state Governor Aminu Tambuwal, Adekola explained that the loan would […]

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