FinTech disrupting conventional banking models—CBN
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has warned operators in the nation’s banking system that Financial Technology (Fintech) in the industry has come to stay He said the rapid growth in FinTech is not only…
Self-financed rice farmers’ in cold war with ABP debtors’ over price crash
A serious cold war is brewing across the Nigerian rice producing enterprises between private investors’ without any form of assistance from the Central Bank of Nigeria’s (CBN) Anchor Borrowers Programme (ABP) and beneficiaries of the scheme. Whereas private investors are…
£4bn Nigeria’s Gold market holds prospects for investors, Nigerians—Heritage Bank
The MD/CEO of Heritage Bank Plc, Mr. Ifie Sekibo, has averred that Nigeria’s Gold market is worth £4 billion Pounds with high prospects of profitability for all players in the subsector. Making the assertion at the Nigeria-Canada Investment Summit, held…
Why CBN was weak in regulating exorbitant prices of local rice
Only recently, the Central Bank of Nigeria (CBN) released its third quarter report on the performance of the Commercial Agricultural Credit Scheme (CACS). The report showed that “At end-September 2019, the total amount released since inception by the CBN under…
Ecobank seals UNEP’s Finance Initiative Principles for responsible banking
Ecobank Transnational Incorporated (ETI) Wednesday announced that it has become an official Signatory to the UN Principles for Responsible Banking: a single framework for a sustainable banking industry developed through an innovative partnership between banks worldwide and United Nations Environment…
DBN explains why banks classify MSMEs as high risk businesses
…Disburses N100bn to 95,000 SMEs across sectors The Managing Director, Development Bank of Nigeria (DBN), Mr. Tony Okpanachi, has given fresh insights on why many commercial banks and even finance houses decline loan requests from operators of Micro, Small and…
AIF 2019: EIB sets up $1bn lending scheme for African female entrepreneurs
The European Investment Bank (EIB) Tuesday, announced a $1.1 billion lending programme to help women entrepreneurs on the continent under a new initiative termed SheInvest. Speaking at the ongoing African Investment Forum (AIF) due to end today in South Africa,…
Aside recent phosphate deal, Dangote plans $60m cement plant in Togo
More details have emerged on the recent intra-ECOWAS deal between Dangote Group and Government of Togo. Otherwise, beyond the understanding with the Government of Togo and Dangote to produce fertiliser from Togo’s phosphate reserves, there is the angle of setting…
Fact Check: Another look on FG’s planned borrowings ahead 2020
Apart from the fact that the 2020 budget is expected to borrow about one third of the total sum to function effectively if all targeted revenues are collected, hereunder are planned facilities to borrow between this month and end of…
Remit FG’s royalties before Dec 31st or face sanctions, NLRC tells lottery firms
Final warning was weekend handed down to all lottery operators in Nigeria to defray all debts owed to the Federal Government or face stiff sanctions which may include revocation of licenses, as well as arrests and prosecution on or before…
