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Digital Assets For National Devt Has Been Deployed By Stanbic IBTC

Digital Assets For National Devt Has Been Deployed By Stanbic IBTC

Stanbic IBTC said it is set to explore ways to harness global digital economy for Nigeria’s economic development. The bank says it intends to achieve this with the second edition of its Business Leadership Series, an annual forum designed to help create deeper connections and build a new cadre of leadership among people and businesses […]

Enugu Accesses N280bn MSMEs Fund From CBN

Enugu Accesses N280bn MSMEs Fund From CBN

Enugu State Governor, Ifeanyi Ugwuanyi, has commended Fidelity Bank Plc for staging the regional Small and Medium Enterprises (SMEs) conference for entrepreneurs in South East geopolitical zone of Nigeria in Enugu State. Ugwuanyi, who made the commendation on Monday at Nike Lake Hotel where the conference was organised, disclosed that his government has already accessed […]

Firm Secures N2bn CBN Fund To Boost Operations

The recent stoppage of sales of foreign exchange to importers of rice, private jets, textiles, tomato paste, poultry products and 35 other items by the Central Bank of Nigeria has improved the fortunes of Erisco Foods Limited, the company has said. The President of Erisco Foods Limited, Chief Eric Umeofia, stated this in Lagos during […]

MEDA Pays Out N2bn to 3,795 MSMEs In C’River

The Microfinance and Enterprise Development Agency in Cross River State said it had disbursed N2bn to 3,795 Micro, Small and Medium Enterprises in the state. The Director-General, MEDA, Mr. Ignatius Atsu, said this in Calabar at the 2015 business workshop organised by MEDA in collaboration with CUSO, a Canada-based business partner. Atsu said the N2bn […]

Access Bank, Irish Firm Improve ATM, e-banking Channels

Access Bank, Irish Firm Improve ATM, e-banking Channels

Access Bank Plc has collaborated with CR2, an Ireland-based self-service banking software provider, to modernise its Automated Teller Machines, Internet and mobile banking channels. CR2, in a statement, announced that the Nigerian lender had selected BankWorld, its omnichannel suite, to manage its self-service channels including ATMs, Internet and mobile banking platforms. The strategic alliance was […]

ETI Suspends Sale Of Stake In Ecobank

ETI Suspends Sale Of Stake In Ecobank

Ecobank Transnational Incorporated (ETI), has foreclosed the plan of selling some its stake in its Nigeria subsidiary, Ecobank Nigeria Limited, due to falling equities’ prices. The Chief Executive Officer of the bank, Mr. Ade Ayeyemi, stated this in an interview with Bloomberg. The bank had said that it would sell part of its stake in […]

Domestic Investors To Soak Up N127.07 Worth Of T-Bills By October 7

A total of N127.07 billion worth of Treasury Bills (T-Bills) are expected to be bought by local investors, as the  Central Bank of Nigeria (CBN) plans to raise the instruments with maturities of three months to one year at an auction on October 7. The success of this auction according to traders would confirm assurances […]

CBN: There Is Liquidity In Banking System

CBN: There Is Liquidity In Banking System

The Central Bank of Nigeria (CBN), want investors and the general public to believe that there is enough cash balances (liquidity) in the banking system, but Fitch Ratings, a global rating agency has insisted that there is no Foreign Currency (FC) liquidity in the system. “Nigerian banks’ foreign currency liquidity remains tight despite cutting reserve […]

CBN Governor: If We Devalue Naira Again, We Will Kill Nigerians

CBN Governor: If We Devalue Naira Again, We Will Kill Nigerians

The Central Bank governor, Mr Godwin Emefiele, has defended his decision not to further devalue the naira despite the pressure on the currency of Africa’s top oil producer amid the global price crash. Godwin Emefiele is also under pressure from foreign investors and Nigerian manufacturers, who say his policies are worsening the oil-dependent country’s economic […]

World Bank: Nigeria Lost N757bn To Others In Q1

World Bank: Nigeria Lost N757bn To Others In Q1

Nigeria lost about N757.44bn in transactions with other countries in the first quarter of the year, the World Bank has said. The bank said this in a report, Africa Pulse, which was released in Washington after a video press conference that was monitored in Abuja on Monday. According to the bank, Nigeria suffered current account […]

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