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Nigeria Strengthens Business Ties With Indonesia

Nigeria Strengthens Business Ties With Indonesia

Six companies signed business agreements on Monday, during an Indonesia-Nigeria Business Forum in Lagos, as part of efforts to grow stronger economic ties between Nigeria and Indonesia. The agreements were signed between PT Kareem International with Asanita Investment Limited (bio-ethanol industry project); Indonesia Eximbank with Tolaram Group; Indonesia Eximbank with Nigeria Eximbank; PT Pertamina with […]

Microfinance: CBN, NDIC, Others Disagree With Senate Over MFBs bill

Microfinance: CBN, NDIC, Others Disagree With Senate Over MFBs bill

They faulted the Senate’s move during a public hearing by its Committee on Banking, Insurance and other Financial Institutions in Abuja on Monday. Stakeholders in the banking sector have disagreed with the Senate over its planned amendment of laws on the regulation and supervision of microfinance banks in the country, insisting that the banks need […]

Jaiz Bank Grows Capital Base To N15bn IN 5 Years

Jaiz Bank Grows Capital Base To N15bn IN 5 Years

Nigeria’s leading non-interest bank, Jaiz Bank Plc, says it has grown its capital base from the initial N5 billion it started operations with five (5) years ago, to over N15 billion, at the moment. The bank disclosed that it is growing at an annual rate of 30% which makes it one of the strong players in Nigeria’s banking industry, with plans to […]

Ghana Central Bank Cuts Interest Rates As Inflation Eases

Ghana Central Bank Cuts Interest Rates As Inflation Eases

Ghana’s central bank cut its benchmark interest rate by 150 basis points to 21.0 percent on Monday, citing a downward trend in consumer inflation and the potential for higher economic growth on increasing oil output. The cut, which economists had expected, reflected lower risks to inflation helped by a slightly stabler local currency, Central Bank […]

Naira Gains Against Dollar In Parallel Market

Naira Gains Against Dollar In Parallel Market

The Naira on Monday regained strength against the dollar at the parallel market. The Nigerian currency gained one point to exchange at N365 to the dollar at the parallel market, stronger than N366 posted on Friday, while the Pound Sterling and the Euro traded at N475 and N420, respectively. At the Bureau De Change (BDC) […]

Weaker Naira And Trade Promotions Cause Air Cargo Exports Rise

Weaker Naira And Trade Promotions Cause Air Cargo Exports Rise

We are seeing a rise in exportation and this makes us happy. Exportation of both perishable and non-perishable products from Nigeria to Europe, the US and other parts of the world, through the nation’s cargo airports has seen a double-digit growth on the back of a weaker naira, as well as the recent trade promotion […]

Banks’ Foreign Asset Holdings Rise First Time In 4 Months

Banks’ Foreign Asset Holdings Rise First Time In 4 Months

In perhaps another sign of improving dollar liquidity, banks are gradually rekindling their appetite for foreign assets, as their holdings rise for the first time in four months, after a difficult year that has seen straight declines since February. Net foreign assets of the banking system, at N8.5 trillion, rose by 17.5 per cent at […]

July 25 – Factors To Watch On African Markets

July 25 – Factors To Watch On African Markets

SOUTH AFRICA MARKETS South Africa’s rand backtracked against the dollar on Monday as forward momentum faded in the face of technical resistance levels and a lack of local data releases to drive sentiment. NIGERIA MARKETS Nigerian stocks climbed to more than two year highs on Monday, lifted by gains in Dangote Cement as investors piled […]

Keystone Bank Denies Hiding TSA Fund

Keystone Bank Denies Hiding TSA Fund

Keystone Bank Limited has denied concealing funds meant to be transferred into the Federal Government’s Treasury Single Account. The Federal High Court in Lagos had on Thursday ordered seven commercial banks to temporarily remit a total of $793.2m allegedly hidden by them in contravention of the Federal Government’s TSA policy. But Keystone Bank, in a […]

FG Commends Heritage Bank For Supporting Entertainment Industry

FG Commends Heritage Bank For Supporting Entertainment Industry

 Heritage Bank was committed to the development and growth of the entertainment industry because one of the easiest ways to solve the unemployment issue in the country is to get as many people as possible involved in the entertainment industry, because manufacturing, banking and other sectors cannot do it alone. The Federal Government has commended […]

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