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Zenith Bank notifies NSE to revalidate $500m on second tranche for operations

Banking and stock market pundits have confirmed that the coast is very clear for leading money deposit bank, Zenith Bank Plc to raise up to $500 million under its global Medium Term Notes programme established in 2014 following last week’s official notice to the Nigerian Stock Exchange (NSE). Business Hilights recalls that Zenith Bank had established a $1 billion global ...

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Lagos, 21 others improve on IGR in 2016 financial year, 13 others recorded decline

FIRS

Fresh figures from the National Bureau of Statistics (NBS) has revealed that Internally Generated Revenue (IGR) indices for 35 states in the 2016 fiscal year have shown that 22 states lead by Lagos and Rivers States were able to shore up their revenue while 13 recorded a decline in revenue performance. By performance, the report stated that Lagos State recorded ...

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CAC cert now compulsory for accessing all business deals with MDAs—Minister

cac logo

As part of consolidation new drive for ease of doing business, the Federal Government has banned ministries, departments and agencies (MDAs) from transacting business with companies and other corporate bodies that are not duly registered by the Corporate Affairs Commission (CAC). A statement issued by the Ministry of Finance and signed by the Director of Information, Mr. Salisu Dambatta, made ...

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Unprecedented cyber attacks hit nations, conglomerates weekend, Microsoft begins rescue

Cyber attacker

It was hell weekend across the world and mainly in Europe as teams of technicians worked “round the clock” Saturday to restore hospital computer systems in Britain and check bank or transport services in other nations after a global cyber attack hit dozens of countries and crippled the U.K.’s health system. The worldwide attack was so unprecedented that Microsoft quickly ...

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Eliminate 41 restricted items, if you hope to get unified exchange rate—Soludo warns CBN

soludo

Indication has emerged that the conjuncture and or dreams of the Central bank of Nigeria (CBN) to rely on the prevailing restriction of 41 items from forex window and momentary injection of dollars to the market will drive unified exchange rate regime, remains a farce. This was the submission of former CBN Governor and outspoken finance affairs analyst, Prof Chukwuma ...

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Cleric calls on Bank of Ghana to investigate spiritualists multiplying local currencies

BOG

Considering the observed unprecedented show of money multiplication powers on several TV stations in Ghana by some spiritualists, a leading cleric and Chairperson of the Upper Presbytery, Reverend Emmanuel Atami has raised alarm calling on the Bank of Ghana (BoG) to find out the real source of the money on display. According to her, there is need to find out ...

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Wema Bank sets 3m digital customer base target by 2020, upgrades systems

wema-bank-logo

To key into the trending digitization of operations which translates to branchless, paperless and boundless transactions, Wema Bank Plc has said it is targeting three million millennial customers by 2020. Giving more insights to the development in Lagos during the 72nd birthday of the bank and the launch of Alat, a digital platform that will address digital lifestyle, Managing Director, ...

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CBN sets money laundering radar on MFBs, OFIs, may revoke licences if…

Kemi Adeosun

Relying on recent revelation by the Minister of Finance, Mrs. Kemi Adeosun that looters of the treasury may have moved their illicit trade to Micro Finance Banks (MFBs) and other financial institutions (OFIs), due to the water tight blockage placed by the introduction of BVN, the Central Bank of Nigeria (CBN) has began surveillance on the sub sector on issues ...

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Adeosun, IMF, CBN hold different views on Nigeria’s economic outlook, recovery time

imf visit

Whereas the Minister of Finance, Mrs. Kemi Adeosun has claimed that Nigeria economy will grow this year by 2.5 per cent, the International Monetary Fund (IMF) and the Central Bank of Nigeria (CBN) are heading opposite directions on the projections of the Bretton Woods institution for the country’s economic outlook for 2007. Just as the Regional Economic Outlook for Sub-Saharan ...

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‘Watch your states’ govs over use of released Ecological/Natural Resources Funds’

Buhari CBN

Leading Environmental activist and head of Research and Development at Africa Environmental & Economic Peace Mission (AEEPM), Dr. Dan Agu has called on Nigerians to keep intelligent watch over the use and application of the released Ecological Fund to their respective states. In an interview, he said “The experiences of many states on how their states governor used their allocation ...

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