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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 […]

Nigeria Central Bank To Clear Backlog Of Dollar Demand For Importers

Nigeria Central Bank To Clear Backlog Of Dollar Demand For Importers

Nigeria’s central bank said on Thursday it will sell dollars via a book-building process to clear a backlog of dollar demand for companies importing machinery, airline equipment and petroleum products. Companies would be required to pay the naira equivalent for their dollar bids on the spot market on Thursday, while the dollars will be delivered […]

19 Stocks Depreciate, Market Sheds N50bn

19 Stocks Depreciate, Market Sheds N50bn

The equities market on Wednesday went down again by N50bn after 19 stocks closed in the red. At the close of trading on the floor of the Nigerian Stock Exchange, the NSE market capitalisation dropped to N8.715tn from N8.765tn, while the All-Share Index closed at 25,183.10 basis points from 25,329.06 basis points.     A total […]

$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 […]

Diamond Bank Fetes Essay/Art Winners

Diamond Bank Fetes Essay/Art Winners

Essays and artworks of winners of 2016 Vision of the Child (VoTC) were on display at the Diamond Bank headquarters in Victoria Island, Lagos, last week as entries opened for the 2017 edition of the competition.   The winners, drawn from both public and private primary and secondary schools, whose literary and visual art works […]

CBN’s Reports On PMI Indicates Decline In Economic Activities

CBN’s Reports On  PMI Indicates Decline In Economic Activities

THE Central Bank of Nigeria, CBN, yesterday, released its Purchasing Managers Index (PMI) report for February, 2017 which indicated continued decline in economic activities, coming against the backdrop of the bottoming-out of recessionary trend as reported earlier in the week by the National Bureau of Statistics, NBS. The PMI is based on survey of purchasing […]

Devt Bank’ll Catalyse SMEs’ Growth

Devt Bank’ll Catalyse SMEs’ Growth

MINISTER of Finance, Mrs. Kemi Adeosun has stated that the Development Bank of Nigeria (DBN) is being positioned to galvanise the Small and Medium Scale Enterprises, SMEs, sector for the overall development of the nation’s economy. According to her, the present administration is aware of the role of SMEs in national economy, hence the resolve […]

$530m Injection: Forex Intervention That Relieved Naira

$530m Injection: Forex Intervention That Relieved Naira

The sustained appreciation of Nigeria’s national currency since last week’s intervention by the Central Bank of Nigeria (CBN) has again rekindled the hope of most Nigerians in the ability of the apex regulator to manage the nation’s foreign exchange market against the vicissitudes of the global economy caused by collapse of commodity prices. Before that […]

Fish Farmers Want Middlemen Removed From CBN Loan Scheme

Fish Farmers Want Middlemen Removed From CBN Loan Scheme

The Federal Government has been called upon to prevail on the Central Bank of Nigeria (CBN) to dismantle the middlemen in its Anchor Borrowers’ Programme to farmers nationwide. President of United Ufuoma Fish Farmers Association, John Ihesinaulo, who made the appeal in Ekpan, Uvwie Local Council of Delta State, noted that the agents were posing […]

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