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Nigeria’s Naira Problem Not Ended, Says Investors

Nigeria’s Naira Problem Not Ended, Says Investors

Nigerian officials are increasingly confident the naira’s troubles are over for good. Some investors disagree. Portfolio inflows have risen in the past three months with crude prices ,rising above $60 a barrel and money managers taking heart from a foreign-exchange trading window, where the naira has converged with the black-market rate. That prompted central bank Governor Godwin […]

Why Cutting 6,000 Bank Jobs May Be Good For Business

Why Cutting 6,000 Bank Jobs May Be Good For Business

About 30 percent of banking jobs could vanish in the next five years One week after Nordea Bank AB said it will cut 6,000 jobs in a digital bet, a key investor says the rest of the industry would do well to watch and learn. Sampo Oyj, Nordea’s biggest owner with about one-fifth of its […]

CBN Offers N5bn Max. Support For Non-oil Export Project

CBN Offers N5bn Max. Support For Non-oil Export Project

A fresh vista for the growth of the non-oil sector and exports may have been opened, as the Nigeria’s Central Bank said a maximum financing of project in the sector would now be N5 billion per project under the Non-Oil Export Stimulation Facility (NESF). The amount would represent 70 per cent of the verifiable total […]

AfDB Withdraws $400m Loan To Nigeria

AfDB Withdraws $400m Loan To Nigeria

The African Development Bank (AfDB) has called off a loan to Nigeria that would have helped fund the country’s budget, the Vice-President for Power, Energy, Climate Change and Green Growth, AfDB, Amadou Hott, said. He said the bank would likely be redirecting the money to specific projects in Nigeria rather than give to the country […]

Development Bank Releases N5bn To 3 Microfinance Banks

Development Bank Releases N5bn To 3 Microfinance Banks

The Development Bank of Nigeria (DBN), which was recently established by the Federal Government, on Monday commenced lending activities to the economy with the release of N5bn to three microfinance banks. The amount is for on-lending by the microfinance banks to 20,000 entrepreneurs operating in Micro, Small and Medium Enterprises sector of the economy. The […]

Emefiele Says Naira To Appreciate In 2018

Emefiele Says Naira To Appreciate In 2018

The market will determine the direction of the naira The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, says he expects the naira to appreciate into 2018 as oil prices trend higher and production levels remain high. At the Investor and Exporters (I&E) FX window, the naira exchanges at N360 per dollar, and on the […]

NAIC To Partner With Banks On Agro Risk Management Services

NAIC To Partner With Banks On Agro Risk Management Services

Managing Director of the Nigerian Agricultural Insurance Corporation (NAIC), Folashade Joseph, has revealed that her agency is committed to forging appropriate partnerships with Deposit Money Banks in the fulfilment of their mandate through provision of appropriate risk management services to agricultural investors being financed by the banks. She disclosed this yesterday in Kaduna during a […]

BVN: Observe Due Process In Seizure Of Bank Accounts – Expert Advises FG

BVN: Observe Due Process In Seizure Of Bank Accounts – Expert Advises FG

An economic expert, Mr. Charles Nwekeaku, has advised the Federal Government of Nigeria to follow due process in getting the forfeiture of monies in accounts without Bank Verification Numbers (BVN) to the government. Nwekeaku, an Associate Professor at the Nassarawa State University, Keffi, made the call in an interview with the News Agency of Nigeria […]

Nigeria Earns N261.9bn From Agric. Exports In Q2

Nigeria Earns N261.9bn From Agric. Exports In Q2

Nigeria’s non-oil sector is growing with N261.92 billion earnings in the second quarter of the year from agric exports, Minister of Agriculture and Rural Development Audu Ogbeh has said. Ogbeh spoke at official unveiling of the Nigeria Agribusiness Resource Centre for Agricultural Investment at the weekend in Abuja. He said agricultural export increased by 82 […]

Nigeria Is Ready For Business – Emefiele

Nigeria Is Ready For Business – Emefiele

The Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has urged investors to come over to Nigeria, declaring that the nation’s Return on Investment (ROI) in all sectors of the economy are among the best in the world. Addressing an elite gathering of capital and money market players, investment bankers, treasurers and other […]

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