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CBN ambushes Fitch report, bans banks with high NPLs from dividends pay out

CBn Emefiele

To stem continuous rise in non-performing loans (NPLs) amongst several Tier 2 banks, coupled with the urgency to stop further erosion of the capital base of banks and discount houses, ...

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It is now clear that NNPC cannot resolve the endless fuel scarcity—NASS

buhari-at-nass

Whereas experts and ordinary people on the streets in Nigeria have come to the conclusion that the multiple endless solutions to end fuel scarcity are not working, the House of ...

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Some banks (Tier-2) at risk of going down should dollar hit N450— Fitch Report

naira dollar

—UBA, Zenith, Access, 2 others strong A recent stress test conducted by leading international financial surveillance agency, Fitch Ratings has indicated that some tier-2 banks (banks with total assets less ...

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Failure to resuscitate refineries 3 years on, may embarrass FG today at NIPS

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One of the most unexplainable embarrassments to the present government among the comity of oil producing economies as Nigeria begins to host the world at the Nigeria International Petroleum Summit ...

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Fintech boosting financial inclusion across Africa—Ecobank

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Leading independent pan-African banking group and main sponsor of the 2018 Africa Tech summit in Kigali, Rwanda, Ecobank has revealed that although over 80% of Africans have mobile phones, only ...

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Shell, GE ink Multi-year Service Agreement on 650MW Afam VI cycle power plant

GE-General-Electric-Logo

Pursuant to Nigeria’s drive to steady electricity supply, General Electric (GE) on Thursday announced the sealing of a new Multi- year Service Agreement (MYA) deal with Shell Petroleum Development Company ...

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Market activities at NSE on Thursday, February, 15, 2018

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EQUITIES The domestic bourse extended yesterday’s gain, with the ASI appreciating by 1.03% to 42,604.40 points, following sustained demand across most sectors. The Month-to-Date and Year-to-Date returns improved to -3.92% ...

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Start deducting oil states’ 13% derivation immediately oil is sold—N’Delta Chief

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Barring any last minute change of mind, a consortium of Niger Delta Chiefs may be heading to a federal High Court to seek interpretation on how and when the statutory ...

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Honeywell in 2013, paid full, settled obligations to Ecobank—Otudeko affirms

ecobank-logo

At the continued hearing of the substantive suit between Ecobank Nigeria and Honeywell Group in Lagos on Wednesday, February 14, 2018, the Chairman of Honeywell Group, Oba Otudeko, confirmed that ...

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Key fines in the emerging 70 proposed amendments to the BOFIA Act, 2017

CBn Emefiele

The two-day public hearing on the proposed amendments to the Banks and Other Financial Institutions Act (BOFIA) 2017, by the House of Representatives Committee on Banking and Currency ended on ...

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