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Nigeria’s Mutual Fund Assets Hit N300 Billion

Nigeria’s Mutual Fund Assets Hit N300 Billion

The level of professionalism and quality of investments will be difficult to match by other mutual fund managers in Nigeria and the West African sub-region The high level of professionalism and quality of mutual funds in Nigeria has elicited increased patronage and subscription rate by individual, retail and institutional investors, a Senior Fund Manager and […]

CBN Updates Lists Of MFBs And BDCs

CBN Updates Lists Of MFBs And BDCs

Nigeria’s Central Bank (CBN) on Wednesday updated the lists of Microfinance Banks (MFBs) and Bureau De Change (BDCs). The new list show additional 19 MFBs which makes a total of 999 microfinance banks. The number of BDCs rose to 3,389 from 3,147 in January 2017

GTbank Celebrates 10 Years Of Listing On London Stock Exchange

GTbank Celebrates 10 Years Of Listing On London Stock Exchange

African Foremost financial institution, Guaranty Trust Bank plc, popularly known as GTBank, has marked its listing on the London Stock Exchange (LSE) The Bank became the first Nigerian bank to list on the LSE and the first Nigerian company to raise international capital using listed Global Depositary Receipts. To mark the 10th anniversary of this […]

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 […]

Treasury Bills: CBN Sells Above Inflation To Attract FX Flows

Treasury Bills: CBN Sells Above Inflation To Attract FX Flows

The Central Bank of Nigeria, CBN, has offered six and 12-month Treasuries at yields higher than the country’s inflation rate to lure yield-hungry investors and attract dollar inflows. Severe dollar shortages have been a hallmark of the country’s recession, now in its second year. The downturn was brought on mainly by lower prices for oil, […]

Banks Have Not Grown Branch Network In 5 Years: NBS

Banks Have Not Grown Branch Network In 5 Years: NBS

Nigerian banks have put a hold on branch network expansion in the last five years, data obtained from the National Bureau of Statistics (NBS) reveals. The NBS data shows that banks added 110 new branches between 2011 and 2012 to increase total bank branch network across the country to 5,564 in 2012 from 5,454 in […]

Dollar Drops As Investors Await Fed Policy Clues

Dollar Drops As Investors Await Fed Policy Clues

The dollar inched 0.1 percent lower to 109.98 against the yen, while the euro added 0.1 percent to $1.1217. The dollar eased on Wednesday with investors looking past an expected U.S. rate hike later in the day for clues on Federal Reserve policy for the rest of the year. The dollar index, which tracks the […]

Nigeria To Raise $3.5bn In Foreign Loans To Fund Budget

Global Markets: Global markets traded mixed this past week amidst a number of factors. The markets got off to a positive start to the week on continued recovery in oil prices from recent slide, driven by announcement that Saudi and Russia are open to extending the OPEC oil production cut. Notably, Technology & Cybersecurity stocks surged […]

BVN: We Are Working Ahead Of Deadline For Use – NAMBLAG

BVN: We Are Working Ahead Of Deadline For Use – NAMBLAG

It would be substantially achieved by July 31, if there is need for extension, we should have made some landmark improvement Ahead of the July 31 deadline for the use of Bank Verification Number (BVN) for customers of Microfinance banks in the country, National Association of Microfinance Banks Lagos State Chapter, NAMBLAG, has said that […]

W’bank Says Nigeria’s Revenue Can’t Sustain Interest Payment On Debt

W’bank Says Nigeria’s Revenue Can’t Sustain Interest Payment On Debt

Nigeria’s debt to GDP ratio is relatively low Although Nigeria’s total current debt is relatively low compared to the Gross Domestic Product, the interest rate payment is not sustainable by current revenues, the World Bank has said. Senior Economist at World Bank office in Nigeria, Yue Man Lee, said this in Abuja on Wednesday on […]

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